State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) seeking initiation of the Interim Resolution Process against Shri Sanjay Maheshwari, the Personal Guarantor of the Corporate Debtor, M/s Saga Automotive (I) Private Limited, for an amount of Rs. 28,36,04,727.55/-.
State Bank of India filed an application seeking initiation of Interim Resolution Process against Shri Sanjay Maheshwari, the Personal Guarantor of M/s Saga Automotive (I) Private Limited.
The application was filed under Section 95 of the Insolvency and Bankruptcy Code (IBC).
The amount claimed was Rs. 28,36,04,727.55/-.
Mr. Sandeep Mahajan was appointed as the Resolution Professional.
The Personal Guarantor was served with a demand notice dated 29.06.2020 but failed to repay the debt.
The Resolution Professional submitted a report under Section 99 of the IBC recommending the admission of the application.
The Personal Guarantor admitted to making a payment of Rs. 7.25 Crores in 2017 but no further payments were made.
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Demand notice dated…
Order dated 01.09.2021 appointed Mr. Sandeep…
State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) seeking initiation of the Interim Resolution Process against Shri Sanjay Maheshwari, the Personal Guarantor of the Corporate Debtor, M/s Saga Automotive (I) Private Limited, for an amount of Rs. 28,36,04,727.55/-.
State Bank of India filed an application seeking initiation of Interim Resolution Process against Shri Sanjay Maheshwari, the Personal Guarantor of M/s Saga Automotive (I) Private Limited.
The application was filed under Section 95 of the Insolvency and Bankruptcy Code (IBC).
The amount claimed was Rs. 28,36,04,727.55/-.
Mr. Sandeep Mahajan was appointed as the Resolution Professional.
The Personal Guarantor was served with a demand notice dated 29.06.2020 but failed to repay the debt.
The Resolution Professional submitted a report under Section 99 of the IBC recommending the admission of the application.
The Personal Guarantor admitted to making a payment of Rs. 7.25 Crores in 2017 but no further payments were made.
…Demand notice dated…
Order dated 01.09.2021 appointed Mr. Sandeep…