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2021 (9) TMI 1323 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - personal guarantor - existence of debt and default or not - HELD THAT:- The Bench has no doubt in its mind that there is a ‘default’ on the part of the Personal Guarantor by not fulfilling the debt owed to the Corporate Debtor, i.e., Anoushka Medicare & Diagnostics Private Limited as per the Deed of Personal Guarantee entered between the parties through the Deed of Personal Guarantee dated 01.08.2017. This Bench “Allows” the Application filed by Sudha Bhushan, Insolvency Resolution Professional on behalf of Finquest Financial Solutions Private Limited, the Financial Creditor, under Section 95 of the Insolvency & Bankruptcy Code, 2016 read with Rule 7 of the IBC Rules 2019 against Mrs. Kanchan Nanubhai Desai, the Personal Guarantor of the Corporate Debtor, Anoushka Medicare & Diagnostics Private Limited in CP No. 457/2020. The Bench makes it clear that from the date of filing this Application i.e. 31.01.2020 by the Petitioner, Interim Moratorium commences as stipulated under Section 96(1) of the Code in relation to all the debts of the Personal Guarantor - List the matter for further hearing along with IA 2495 of 2020 on 02.11.2021.
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