2022 (2) TMI 96

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....The Resolution Professional has been proposed by the Financial Creditor, M/s. State Bank of India, to file the present Application, under Section 95 of the Code, seeking to initiate Insolvency Resolution Process against Personal Guarantor of CD, in respect of the Outstanding debt of Rs. 1169,37,87,061 (Rupees One Thousand One Hundred Sixty Nine Crore Thirty Seven Lakhs Eighty Seven Thousand Sixty One Only), as on 28.07.2017, due from the Corporate Debtor, under rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors), Rules, 2019. 2. The Ld. Counsel for the Applicant states that, the CD, M/s. Metenere Limited, in order to meet its financia....

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....hi, vide order dated 25.09.2020 in C.P. (IB) No. 639 (PB)/2018. 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 Adjudicating Authority for Insolvency Resolution Process of Personal Guarantors to Corporate Debtor) Rules, 2019, was issued on 01.02.2021, to the Personal Guarantor, in respect of the unpaid debt due from M/s. Metenere Limited (Corporate Debtor), under rule 7(1) of the IBC, Rules 2019. 6. It is pertinent to mention that as per part-III of Form-C, the total debt from the personal guarantor, by way of personal guarantee given to M/s. State Bank of India, including interest as on 17.05.2021, amounts to Rs. 1169,37,87,061 (Rupees ....