Central Bank of India (Financial Creditor) filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. Sanjay Tanaji Bhade (Personal Guarantor) of M/s. Innoventive Industries Limited (Corporate Debtor). The petition sought to initiate the Insolvency Resolution Process against the personal guarantor for a debt of Rs. 188,98,55,733.00. The debt arose from fund-based and non-fund-based credit facilities sanctioned to the Corporate Debtor, which were later restructured under a Master Restructuring Agreement (MRA) dated 09.09.2014. The repayment of these facilities was secured by a Deed of Personal Guarantee dated 30.06.2014 and an Agreement of Guarantee dated 09.09.2014, executed by the Respondent and others. The Corporate Debtor
…Central Bank of India (Petitioner/Financial Creditor) filed a petition under Section 95(1) of the IBC against Mr. Sanjay Tanaji Bhade (Respondent/Personal Guarantor).
The petition seeks initiation of the Insolvency Resolution Process against Mr. Sanjay Tanaji Bhade, Personal Guarantor of M/s. Innoventive Industries Limited (Corporate Debtor).
The debt amounts to Rs. 188,98,55,733.00 as on 08.12.2017, the date of commencement of liquidation of the Principal Borrower.
The Petitioner had sanctioned various fund-based and non-fund-based credit facilities to the Principal Borrower from time to time since 23.11.2009.
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Petitioner sanctioned various fund-based and…
Petitioner's sanction letter for Corporate…
Central Bank of India (Financial Creditor) filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. Sanjay Tanaji Bhade (Personal Guarantor) of M/s. Innoventive Industries Limited (Corporate Debtor). The petition sought to initiate the Insolvency Resolution Process against the personal guarantor for a debt of Rs. 188,98,55,733.00. The debt arose from fund-based and non-fund-based credit facilities sanctioned to the Corporate Debtor, which were later restructured under a Master Restructuring Agreement (MRA) dated 09.09.2014. The repayment of these facilities was secured by a Deed of Personal Guarantee dated 30.06.2014 and an Agreement of Guarantee dated 09.09.2014, executed by the Respondent and others. The Corporate Debtor
…Central Bank of India (Petitioner/Financial Creditor) filed a petition under Section 95(1) of the IBC against Mr. Sanjay Tanaji Bhade (Respondent/Personal Guarantor).
The petition seeks initiation of the Insolvency Resolution Process against Mr. Sanjay Tanaji Bhade, Personal Guarantor of M/s. Innoventive Industries Limited (Corporate Debtor).
The debt amounts to Rs. 188,98,55,733.00 as on 08.12.2017, the date of commencement of liquidation of the Principal Borrower.
The Petitioner had sanctioned various fund-based and non-fund-based credit facilities to the Principal Borrower from time to time since 23.11.2009.
…Petitioner sanctioned various fund-based and…
Petitioner's sanction letter for Corporate…