9911796707
TMI Blog2021 (9) TMI 584X X X X Extracts X X X X X X X X Extracts X X X X ..... erments made in the application as well as the documents enclosed with the application. Further, the Respondent has not filed any submissions and on the date of hearing there was no representation from the side of the Respondent i.e., the Personal Guarantor. Based on the documents produced and placed on record before this Tribunal and on the submissions made by the Applicant, it can be concluded that there is a 'default' on the part of the Personal Guarantor, by not fulfilling the debt owed to the Corporate Debtor, i.e., M/s. Hitech Grain Processing Pvt. Ltd. as per the Deed of Guarantee entered between the parties through the Deed of Guarantee dated 06.06.2017. The Tribunal Allows the Present Application filed by Mr. S.V. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore Sixty-One Lakh Nine Thousand Six Hundred Fourteen) as on 31.08.2020, 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. That the Ld. Counsel for the Applicant submitted that the Corporate Debtor i.e., M/s. Hitech Grain Processing Pvt. Ltd. was admitted under Corporate Insolvency Resolution Process by an NCLT, New Delhi order dated 31.10.2019 vide IB No. 2158/(ND)/2019. 3. The Ld. Counsel for the applicant submitted that a Personal Guarantee by the suspended Director, Mrs. Asha Mittal, of the Corporate Debtor Company M/s. Hitech Grain Processing Pvt. Ltd., was given to Sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uced proof of evidence that the said notice was delivered to the Personal Guarantors on 05.04.2021, along with computation of the amount of default and other particulars. The proof of delivery has been annexed by the applicant. The Ld. Counsel for the Applicant mentioned that there has been no response from the Respondent side to the demand notice. 5. The applicant in, Part-III of Form-C has submitted that the Record of Default by Information Utility, recording of debt committed by the Corporate Debtor M/s. Hitech Grain Processing Pvt. Ltd. has also been annexed with the application. 6. That the Applicant, in Part IV of the Form-C, has proposed the name of Mr. Sunil Kumar Kabra, having registration number IBBI/IPA-001/IP-P01011/2017-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ules 2019, against Mrs. Asha Mittal, the Personal Guarantor of the Corporate Debtor, (M/s. Hitech Grain processing Pvt. Ltd.). The Interim Moratorium as per Section 96(1) of the Code has commenced from the date of filing of Application by the Financial Creditor, i.e., 14.07.2021. 11. The Tribunal makes it clear that from the date of filing this Application i.e., 14.07.2021 by the Applicant, 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 proc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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