2022 (6) TMI 557

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.... : K. Chandrasekaran and Lekha Chandrasekar, Advocates ORDER S. Ramathilagam, J. (Member (J)) 1. Under Consideration is an Application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against the personal guarantor Nathella Sampath Chetty & Co. of Nathella Sampath Jewellery Private Limited, the Corporate Debtor which is under CIRP. In so far Nathella Sampath Jewellery....

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....cy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, was mentioned in the index of the typed set filed along with the application but not there in the application. Hence, on this term, the present Petition is filed to initiate a proceeding in terms of Section 95(1) of the IBC, 2016, against the Respondent herein. ....

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....iled against the partnership firm, here it is needful to refer relevant provision of the Insolvency and Bankruptcy Code, 2016 Section 60. Adjudicating authority for corporate persons.-- (1) The Adjudicating Authority, in relation to insolvency resolution and liquidation for corporate persons including corporate debtors and personal guarantors thereof shall be the National Company....

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....ebtor] pending in any court or tribunal shall stand transferred to the Adjudicating Authority dealing with insolvency resolution process or liquidation proceeding of such corporate debtor. ... Section 5: Definitions: ... (22) "personal guarantor" means an individual who is the surety in a contract of guarantee to a corporate debtor; ... Section....