TMI Blog2021 (10) TMI 591X X X X Extracts X X X X X X X X Extracts X X X X ..... tion to all the debts of the personal guarantor and shall cease to have effect on the date of admission of this Application. List the matter for further proceedings in the case on 17.11.2021. - IB-216 (PB)/2021 - - - Dated:- 30-9-2021 - Bhaskara Pantula Mohan, Actg. President and Hemant Kumar Sarangi, Member (T) For the Appellant : Abhishek Anand, Advocate ORDER Hemant Kumar Sarangi, Member (T) 1. This is an application filed by the Financial Creditor, M/s. Bank of India, under Section 95 of the Insolvency and Bankruptcy Code, 2016, through Resolution Professional, Mr. Anil Kohli, against Mr. Praveen Gupta, Personal Guarantor to the Corporate Debtor (CD), 'M/s. Shree Raj Mahal Jewellers Private Limited'. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Capital Consortium Agreement. As a result, the account of CD was declared as NPA on 30.06.2021. 4. It is further stated that, a section 7 application under the I B Code, 2016, bearing C.P. No. (IB)-818 (PB)/2018 was filed against the CD, for initiation of CIRP proceedings, which was admitted by the Hon'ble Tribunal on 24.04.2019. Since no Resolution Plan was approved by the CoC, the RP filed an application under section 33(1)(a) for Liquidation of the CD. The same was allowed, vide order dated 08.09.2020 and Mr. Nishant Gaurav Gupta, was appointed as the Liquidator of the CD. 5. The Ld. Counsel for the applicant further submitted that a Demand Notice in Form B, under rule 7(1) of the Insolvency and Bankruptcy (Application to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor regulator. 8. The Applicant/Creditor has proposed the name of Mr. Anil Kohli, Insolvency Professional, having registration number IBBI/IPA-001/IP-P00112/2017-18/10219, email-insolvency@arck.in, Phone- 9810071182, for appointment as the Resolution Professional. No disciplinary proceedings are stated to be pending against him. Therefore, Mr. Anil Kohli, is appointed as the Resolution Professional, in exercise of powers conferred under Section 97 of the IBC, 2016 on this Authority, subject to Regulations 4 (1) and (2) of the IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. 9. In this matter, the Resolution Professional, shall exercise all the powers, as enumerated under Section 99 o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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