Tata Motors Finance Limited filed petitions against Mr. Rajwanth Ben and Mrs. Molly G, who are personal guarantors to Malayalam Vehicles India Private Limited, the Corporate Debtor, for a debt of Rs. 2,56,37,953.21/-. The petitions were filed under Section 95 of the IBC, 2016.
Tata Motors Finance Limited filed petitions against Mr. Rajwanth Ben and Mrs. Molly G as personal guarantors.
The Corporate Debtor is Malayalam Vehicles India Private Limited.
The debt amount is Rs. 2,56,37,953.21/-.
The petitions were filed under Section 95 of the IBC, 2016.
The respondents argued that the application was premature due to the ongoing CIRP of the Corporate Debtor.
The respondents claimed the debt was secured and the securities should be exhausted first.
The petitioner argued that proceedings against personal guarantors are independent of the CIRP of the Corporate Debtor.
The NCLT admitted the petitions and initiated the Insolvency Resolution Process against the personal guarantors.
A moratorium was declared.
Sign in to view the parties.
Channel Finance Facility of Rs. Four Crores…
Respondents ex…
Tata Motors Finance Limited filed petitions against Mr. Rajwanth Ben and Mrs. Molly G, who are personal guarantors to Malayalam Vehicles India Private Limited, the Corporate Debtor, for a debt of Rs. 2,56,37,953.21/-. The petitions were filed under Section 95 of the IBC, 2016.
Tata Motors Finance Limited filed petitions against Mr. Rajwanth Ben and Mrs. Molly G as personal guarantors.
The Corporate Debtor is Malayalam Vehicles India Private Limited.
The debt amount is Rs. 2,56,37,953.21/-.
The petitions were filed under Section 95 of the IBC, 2016.
The respondents argued that the application was premature due to the ongoing CIRP of the Corporate Debtor.
The respondents claimed the debt was secured and the securities should be exhausted first.
The petitioner argued that proceedings against personal guarantors are independent of the CIRP of the Corporate Debtor.
The NCLT admitted the petitions and initiated the Insolvency Resolution Process against the personal guarantors.
A moratorium was declared.
Channel Finance Facility of Rs. Four Crores…
Respondents ex…