Samata Nagari Sahkari Patsanstha Maryadit (Financial Creditor) filed a petition under Section 95(1) of the IBC, 2016, against Shri Satish Suresh Sawai (Personal Guarantor) for a default of Rs. 1,98,07,160/-. The default stemmed from a Working Capital Cash Credit Facility extended to SS Cott Gin Private Limited (Corporate Debtor), for which Shri Satish Suresh Sawai had provided a personal guarantee. The debt became due and default occurred on May 23, 2024.
The Company Petition was filed on 16.03.2026 under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019.
The Applicant, Samata Nagari Sahkari Patsanstha Maryadit, is a Financial Creditor.
The Respondent, Shri Satish Suresh Sawai, is the Personal Guarantor.
The default amount is Rs. 1,98,07,160/- as on 23.05.2024.
The default amount comprises principal outstanding, interest (Rs. 12,33,052/-), accrued interest (Rs. 1,62,190/-), penalty interest (Rs. 23,170/-), and legal expenses (Rs. 3,790/-).
The debt became due and the default occurred on 23.05.2024.
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Samata Nagari Sahkari Patsanstha Maryadit…
SS Cott Gin Private Limited (Corporate Debtor)…
Samata Nagari Sahkari Patsanstha Maryadit (Financial Creditor) filed a petition under Section 95(1) of the IBC, 2016, against Shri Satish Suresh Sawai (Personal Guarantor) for a default of Rs. 1,98,07,160/-. The default stemmed from a Working Capital Cash Credit Facility extended to SS Cott Gin Private Limited (Corporate Debtor), for which Shri Satish Suresh Sawai had provided a personal guarantee. The debt became due and default occurred on May 23, 2024.
The Company Petition was filed on 16.03.2026 under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019.
The Applicant, Samata Nagari Sahkari Patsanstha Maryadit, is a Financial Creditor.
The Respondent, Shri Satish Suresh Sawai, is the Personal Guarantor.
The default amount is Rs. 1,98,07,160/- as on 23.05.2024.
The default amount comprises principal outstanding, interest (Rs. 12,33,052/-), accrued interest (Rs. 1,62,190/-), penalty interest (Rs. 23,170/-), and legal expenses (Rs. 3,790/-).
The debt became due and the default occurred on 23.05.2024.
…Samata Nagari Sahkari Patsanstha Maryadit…
SS Cott Gin Private Limited (Corporate Debtor)…