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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Rakesh Kumar Jain, J
Vinod Kumar Agarwal – Appellant
Versus
State Bank of India – Respondent
| Table of Content |
|---|
| 1. initiation of insolvency resolution (Para 1 , 2 , 3 , 4) |
| 2. consideration of limitation and acknowledgment (Para 6 , 7 , 8) |
| 3. arguments on notice and guarantee invocation (Para 9 , 11 , 12 , 14) |
| 4. ruling on acknowledgment resets limitation (Para 20 , 30) |
ORDER
(Hybrid Mode)
Per: Justice Rakesh Kumar Jain (Oral) 29.08.2024:
This order shall decide two appeals bearing Company Appeal (AT) (Ins) No. 1245 of 2023, filed by Vinod Kumar Agarwal (hereinafter referred to as the first appeal) and Company Appeal (AT)
2. In brief, ‘Vandana Vidhyut Limited’ secured loan from a consortium of six banks (including Respondent No.1) in which the PNB was the lead bank. The said loan was secured by present appellants in both the appeals along with others as guarantors by executing a deed of guarantee on 27.10.2010.
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