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TMI Blog2021 (3) TMI 1351X X X X Extracts X X X X X X X X Extracts X X X X ..... dents : R. Maheswari, Advocate ORDER Sameer Kakar, Member (T) 1. This application has been filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against the Personal Guarantors of Coastal Energy Private Limited, the Corporate Debtor which is under CIRP. 2. In so far Coastal Energy Private Limited is concerned, an order was passed initiating Corporate Insolvency Resolution Proce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ersonal Guarantors to Corporate Debtors) Rules, 2019 to the Personal Guarantor on 22.10.2020 is also placed on record at Pg. Nos. 188 to 189 at Annexure 1(14). 6. The date of default as mentioned in the application is 08.03.2019. Hence, on this term, the present Petition is filed to initiate proceeding in terms of Section 95 (1) of the IBC, 2016, against the Respondent herein. 7. The Respondent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... available to the borrower which is not maintainable. In this case, the borrower's liability has been adjudicated and he is made liable. In addition to that, the Personal Guarantor has not preferred any appeal against the decree passed by Hon'ble DRT and the said decree has become final. Further, the CIRP proceedings against the said Corporate Debtor is pending in IBA/624/2019 before this T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Section 96 and subsequently proceed to the next stage of appointing Resolution Professional as per Section 97 read with attendant Rules and Regulations. 11. Accordingly, we hereby appoint Mr. Prasanna Kumar Rath having Registration No. : IBBI/IPA-003/IP-N000140/2017-2018/11512 as the Interim Resolution Professional in respect of the Personal Guarantor. 12. The Financial Creditor is also dire ..... X X X X Extracts X X X X X X X X Extracts X X X X
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