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TMI Blog2021 (9) TMI 1323X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 95 of the I & B Code through the Resolution Professional (RP), Sudha Bhushan, bearing IBBI Registration No. IBBI/IPA-001/IP-P01519/2018-19/12305 against Mrs. Kanchan Nanubhai Desai, Personal Guarantor to the Corporate Debtor, Anoushka Medicare & Diagnostics Private Limited. The RP has been appointed by the Creditor, Finquest Financial Solutions Private Limited, to file the present Petition under Section 95 of the Code. As per the submissions made by the Ld. Counsel for the Applicant, the Corporate Debtor Company (Anoushka Medicare & Diagnostics Private Limited) was admitted under Corporate Insolvency Resolution Process by an NCLT Mumbai Order dated 11.12.2019 vide CP No. 1929/I&BP/MB/2019. It has been placed on record by the Petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on between the parties hereto." The Bench notes that a Demand Notice was issued by the Financial Creditor, i.e., Finquest Financial Solutions Private Limited on 26.12.2019 to the Personal Guarantor in respect of the unpaid debt due from Anoushka Medicare & Diagnostics Private Limited (Corporate Debtor) under rule 7(1) of the IBC, 2016. The Bench notes that as required under the I&B Code, after 14 days from the date of service of the demand notice, the Petition under Section 95 in prescribed Form 'C' was filed on 27.01.2020. The Bench notes that as per Form 'C' of the Petition, the total debt from the Personal Guarantor by way of personal guarantee given to Anoushka Medicare & Diagnostics Private Limited, the Corporate Debtor, including i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es 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. During the Interim Moratorium period: (i)any pending legal action or proceedings in respect of any debt shall be deemed to have been stayed; and (ii) the creditors of the debtor shall not initiate any legal action or proceedings in respect of any debt. As per Section 96(3) of the Code, the provisions of sub-section 96(1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. The Bench notes that the appointment of Resolution Professional und ..... X X X X Extracts X X X X X X X X Extracts X X X X
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