STCI Finance Limited (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. Sanjay Laxmichand Karani (Personal Guarantor) for a default on a corporate term loan granted to M/s. Himadri Foods Limited (Corporate Debtor). Mr. Karani had executed a Deed of Personal Guarantee. The Corporate Debtor's account was classified as a Non-Performing Asset (NPA), and a Corporate Insolvency Resolution Process (CIRP) had already been initiated and concluded against the Corporate Debtor.
STCI Finance Limited (Petitioner/Financial Creditor) filed a petition under Section 95 of the IBC, 2016, against Mr. Sanjay Laxmichand Karani (Respondent/Personal Guarantor).
The petition seeks initiation of Insolvency Resolution Process against Mr. Sanjay Laxmichand Karani, being the Personal Guarantor of M/s. Himadri Foods Limited (Corporate Debtor).
The default amount is Rs. 22,74,77,780/- as of 20.07.2021, with the date of default being 06.07.2021.
The Corporate Debtor applied for a Corporate Term Loan on 27.10.2017, and STCI Finance Limited sanctioned a loan of Rs. 25 Crores.
A Loan Agreement was executed between STCI Finance Limited and Himadri Foods Limited on 02.02.2018.
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Corporate Debtor…
STCI Finance Limited…
STCI Finance Limited (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. Sanjay Laxmichand Karani (Personal Guarantor) for a default on a corporate term loan granted to M/s. Himadri Foods Limited (Corporate Debtor). Mr. Karani had executed a Deed of Personal Guarantee. The Corporate Debtor's account was classified as a Non-Performing Asset (NPA), and a Corporate Insolvency Resolution Process (CIRP) had already been initiated and concluded against the Corporate Debtor.
STCI Finance Limited (Petitioner/Financial Creditor) filed a petition under Section 95 of the IBC, 2016, against Mr. Sanjay Laxmichand Karani (Respondent/Personal Guarantor).
The petition seeks initiation of Insolvency Resolution Process against Mr. Sanjay Laxmichand Karani, being the Personal Guarantor of M/s. Himadri Foods Limited (Corporate Debtor).
The default amount is Rs. 22,74,77,780/- as of 20.07.2021, with the date of default being 06.07.2021.
The Corporate Debtor applied for a Corporate Term Loan on 27.10.2017, and STCI Finance Limited sanctioned a loan of Rs. 25 Crores.
A Loan Agreement was executed between STCI Finance Limited and Himadri Foods Limited on 02.02.2018.
…Corporate Debtor…
STCI Finance Limited…