State Bank of India (Financial Creditor), through its Resolution Professional Mr. Indrajit Mukherjee, filed an application under Section 95(1) of the IBC against Mr. Rajesh GaurishankarPoddar (Personal Guarantor) to initiate insolvency resolution. The Corporate Debtor, M/s Loha Ispaat Limited, had availed various credit facilities from SBI, which were secured by personal guarantees from Mr. Poddar. The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on 28.08.2014, and the date of default was stated as 28.02.2017. The Financial Creditor invoked the guarantee and issued a demand notice on 28.06.2021, but the Personal Guarantor failed to make payments, leading to the application being filed.
State Bank of India (Financial Creditor), through Resolution Professional Mr. Indrajit Mukherjee, filed an application under Section 95 of the IBC, 2016.
The application was filed against Mr. Rajesh GaurishankarPoddar (Respondent/Personal Guarantor) to initiate the insolvency resolution process.
The Corporate Debtor, M/s Loha Ispaat Limited, availed various credit facilities from the Financial Creditor.
Mr. Rajesh GaurishankarPoddar executed a deed of Personal Guarantee to secure the credit facilities availed by the Corporate Debtor.
The Financial Creditor classified the Corporate Debtor's account as a Non-Performing Asset (NPA) on 28.08.2014.
The date of default, as stated in Part III of the application, is 28.02.2017.
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The Financial Creditor classified the…
The Financial Creditor,…
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State Bank of India (Financial Creditor), through its Resolution Professional Mr. Indrajit Mukherjee, filed an application under Section 95(1) of the IBC against Mr. Rajesh GaurishankarPoddar (Personal Guarantor) to initiate insolvency resolution. The Corporate Debtor, M/s Loha Ispaat Limited, had availed various credit facilities from SBI, which were secured by personal guarantees from Mr. Poddar. The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on 28.08.2014, and the date of default was stated as 28.02.2017. The Financial Creditor invoked the guarantee and issued a demand notice on 28.06.2021, but the Personal Guarantor failed to make payments, leading to the application being filed.
State Bank of India (Financial Creditor), through Resolution Professional Mr. Indrajit Mukherjee, filed an application under Section 95 of the IBC, 2016.
The application was filed against Mr. Rajesh GaurishankarPoddar (Respondent/Personal Guarantor) to initiate the insolvency resolution process.
The Corporate Debtor, M/s Loha Ispaat Limited, availed various credit facilities from the Financial Creditor.
Mr. Rajesh GaurishankarPoddar executed a deed of Personal Guarantee to secure the credit facilities availed by the Corporate Debtor.
The Financial Creditor classified the Corporate Debtor's account as a Non-Performing Asset (NPA) on 28.08.2014.
The date of default, as stated in Part III of the application, is 28.02.2017.
…The Financial Creditor classified the…
The Financial Creditor,…
Sign in to view related legal provisions.