9911796707
TMI Blog2021 (9) TMI 584X X X X Extracts X X X X X X X X Extracts X X X X ..... Debtor, 'M/s. Hitech Grain Processing Pvt. Ltd'. The Authorized Person has been appointed by the Financial Creditor, State Bank of India, to file the present Application under Section 95 of the Code seeking to initiate Insolvency resolution process against personal Guarantor of Corporate Debtor (M/s. Hitech Grain Processing Pvt. Ltd.), Mrs. Asha Mittal, in respect of the Outstanding debt of Rs. 209,61,09,614 (Rupees Two Hundred Nine Crore Sixty-One Lakh Nine Thousand Six Hundred Fourteen) as on 31.08.2020, due from the Corporate Debtor, under rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors), Rules, 2019. 2. That the Ld. Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process of Personal Guarantors to Corporate Debtor) Rules, 2019, was issued by the Financial Creditor, i.e., State Bank of India on 31.08.2020 to the Personal Guarantor, in respect of the unpaid debt due from M/s. Hitech Grain Processing Pvt. Ltd. (Corporate Debtor) under rule 7(1) of the IBC, 2016. Further, the Applicant has satisfactorily produced proof of evidence that the said notice was delivered to the Personal Guarantors on 05.04.2021, along with computation of the amount of default and other particulars. The proof of delivery has been annexed by the applicant. The Ld. Counsel for the Applicant mentioned that there has been no response from the Res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Corporate Debtor, i.e., M/s. Hitech Grain Processing Pvt. Ltd. as per the Deed of Guarantee entered between the parties through the Deed of Guarantee dated 06.06.2017. 10. This Tribunal "Allows" the Present Application filed by Mr. S.V. Saravanan, Authorized Person on behalf of State Bank of India, the Financial Creditor, under Section 95 of the Insolvency & Bankruptcy Code, 2016 read with Rule 7 of the IBC Rules 2019, against Mrs. Asha Mittal, the Personal Guarantor of the Corporate Debtor, (M/s. Hitech Grain processing Pvt. Ltd.). The Interim Moratorium as per Section 96(1) of the Code has commenced from the date of filing of Application by the Financial Creditor, i.e., 14.07.2021. 11. The Tribunal makes it clear that from the date ..... X X X X Extracts X X X X X X X X Extracts X X X X
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