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TMI Blog2021 (3) TMI 1246X X X X Extracts X X X X X X X X Extracts X X X X ..... sonal Guarantors to Corporate Debtor) Rules, 2019. The present Application is filed for initiating the Insolvency Resolution Process (the "IR Process") against Mr. Vinod Sehwag (hereinafter, referred as Personal Guarantor/Debtor), who is the Guarantor of M/s. Xalta Food & Beverages Private Limited (the 'Corporate Debtor'). 2. The factual matrix of the case is that the Applicant/Creditor viz., Siemens Financial Services Pvt. Ltd. is (a Company incorporated under the erstwhile Companies Act, 1956) a Non-Banking financial Company duly registered with the Reserve Bank of India, which is primarily engaged in the business of granting loans and other financial facilities. 3. It is stated by the Applicant that it had granted a loan facili ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Ltd. 9. That during the course of hearing on 24.02.2021, this Bench had asked the Applicant to place on record the facts as to when did it file the claim before the RP in the matter in which CIRP has been initiated against the Corporate Debtor. 10. That the Applicant in compliance to the same has filed an Affidavit dated 06.03.2021, wherein the proof of filing of claim is enclosed and it is submitted that the claim was filed before the IRP of the Corporate Debtor on 18.08.2018 by filing the Form C. 11. It is averred by the Applicant that it had sent a Notice vide Speed Post dated 22.10.2020 in Form B under Rule 7(1) of Insolvency & Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process of Personal Guarantor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd declared that he is eligible to be appointed and that no disciplinary proceedings are pending against him. Therefore, Mr. Amit Ojha is appointed as the Resolution Professional in exercise of the powers conferred under Section 97 of the IBC, 2016 on this Authority subject to the Regulation 4(1) and (2) of the Insolvency and bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. The details of the Resolution Professional are as under: 15. The Resolution Professional shall exercise all the powers as enumerated under Section 99 of the IBC, 2016 r/w the Rules made there under. He is directed to examine the Application and make recommendations along with the reasons in writing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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