The application was filed by Mr. Hemant Kumar Bohra, the personal guarantor of M/s Bohra Industries Limited, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, challenging the admission of the claim of State Bank of India (SBI) by the Resolution Professional, Mr. Manohar Lal Vij.
Mr. Hemant Kumar Bohra, the personal guarantor of M/s Bohra Industries Limited, filed an application challenging the admission of SBI's claim.
SBI filed a petition bearing CP No. (IB)-19/95(1)/JPR/2021 under Section 95 of the Code read with Rule 7 of the Insolvency and Bankruptcy Rules, 2019.
The Resolution Professional admitted SBI's claim to the tune of Rs. 1,33,43,05,513.
The applicant contended that SBI's claim should be limited to Rs. 68.50 crore as per the supplemental deed of guarantee.
SBI had filed a claim of Rs. 70,72,42,964.68 in the CIRP of the Corporate Debtor.
The Resolution Professional argued that SBI was entitled to levy interest till the date of initiation of the insolvency resolution process.
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Insolvency Resolution Process of the…
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The application was filed by Mr. Hemant Kumar Bohra, the personal guarantor of M/s Bohra Industries Limited, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, challenging the admission of the claim of State Bank of India (SBI) by the Resolution Professional, Mr. Manohar Lal Vij.
Mr. Hemant Kumar Bohra, the personal guarantor of M/s Bohra Industries Limited, filed an application challenging the admission of SBI's claim.
SBI filed a petition bearing CP No. (IB)-19/95(1)/JPR/2021 under Section 95 of the Code read with Rule 7 of the Insolvency and Bankruptcy Rules, 2019.
The Resolution Professional admitted SBI's claim to the tune of Rs. 1,33,43,05,513.
The applicant contended that SBI's claim should be limited to Rs. 68.50 crore as per the supplemental deed of guarantee.
SBI had filed a claim of Rs. 70,72,42,964.68 in the CIRP of the Corporate Debtor.
The Resolution Professional argued that SBI was entitled to levy interest till the date of initiation of the insolvency resolution process.
…Insolvency Resolution Process of the…
Order Pronoun…