Canara Bank Limited filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Saral Sunil Verma, the Personal Guarantor, for a default of Rs. 671,56,76,843.68.
Canara Bank Limited filed a petition under Section 95(1) of the IBC against Saral Sunil Verma, a personal guarantor.
The default amount is Rs. 671,56,76,843.68, with the date of default specified as 17.04.2018.
Saral Sunil Verma is the personal guarantor for Frost International Limited.
The Financial Creditor sanctioned credit facilities to Frost International Limited on 07.01.2014 and 21.07.2014.
A supplemental working capital consortium agreement and a supplemental joint deed of hypothecation were executed on 12.05.2014.
The personal guarantors executed a deed of guarantee dated 12.05.2014.
A notice dated 21.09.2019 under Section 13(2) of the SARFAESI Act was issued to the Corporate Debtor and Personal Guarantors.
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Financial Creditor sanctioned credit…
Supplemental working capital consortium…
Canara Bank Limited filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Saral Sunil Verma, the Personal Guarantor, for a default of Rs. 671,56,76,843.68.
Canara Bank Limited filed a petition under Section 95(1) of the IBC against Saral Sunil Verma, a personal guarantor.
The default amount is Rs. 671,56,76,843.68, with the date of default specified as 17.04.2018.
Saral Sunil Verma is the personal guarantor for Frost International Limited.
The Financial Creditor sanctioned credit facilities to Frost International Limited on 07.01.2014 and 21.07.2014.
A supplemental working capital consortium agreement and a supplemental joint deed of hypothecation were executed on 12.05.2014.
The personal guarantors executed a deed of guarantee dated 12.05.2014.
A notice dated 21.09.2019 under Section 13(2) of the SARFAESI Act was issued to the Corporate Debtor and Personal Guarantors.
…Financial Creditor sanctioned credit…
Supplemental working capital consortium…