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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 ..... iled by Sudha Bhushan, Insolvency Resolution Professional on behalf of Finquest Financial Solutions Private Limited, the Financial Creditor, under Section 95 of the Insolvency Bankruptcy Code, 2016 read with Rule 7 of the IBC Rules 2019 against Mrs. Kanchan Nanubhai Desai, the Personal Guarantor of the Corporate Debtor, Anoushka Medicare Diagnostics Private Limited in CP No. 457/2020. The Bench makes 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 - List the matter for further hearing along with IA 2495 of 2020 on 02.11.2021. - I.A. 2495/2020 in C.P.(IB)-457(MB) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioner had enclosed a copy of the Deed of Personal Guarantee dated 01.08.2017 and the Bench observes that Para (2), (3) and (4) of the Deed of Guarantee mentions as under: 2. The GUARANTOR Nos. 2 and 3 are respectively the Director and Authorised Signatory of the Borrower and are empowered to execute this Guarantee for the due performance and for the compliance of the terms and conditions of both the Deed of English Mortgage dated 4th August, 2017 entered between the Borrower and the Lenders; One of the conditions for the Lenders agreeing to grant the said Loan to the Borrower was that all the GUARANTORS herein should execute an unconditional and irrevocable Guarantee in favour of the Lenders guaranteeing the due payment of the amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rocess of CIRP and returns the business back of the Corporate Debtor. The Bench finds their argument preposterous and therefore rejects it completely. Based on the submissions made by the Applicant and the documents produced and placed on record before this Bench, the Bench has no doubt in its mind that there is a default on the part of the Personal Guarantor by not fulfilling the debt owed to the Corporate Debtor, i.e., Anoushka Medicare Diagnostics Private Limited as per the Deed of Personal Guarantee entered between the parties through the Deed of Personal Guarantee dated 01.08.2017. This Bench Allows the Application filed by Sudha Bhushan, Insolvency Resolution Professional on behalf of Finquest Financial Solutions Private L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . IBBI/IPA-001/IP-P01519/2018-19/12305, this Bench confirms the appointment of the Resolution Professional in the matter. In this matter, the Resolution Professional, Sudha Bhushan, shall exercise all the powers as enumerated under Section 99 of the Code read with Rules made there under. She is directed to make the recommendations with reasons in writing for acceptance or rejection of this Application within the stipulated time as envisaged under the provisions of Section 99 of the Code. The Resolution Professional shall provide a copy of the report under sub-section 7 of Section 99 to the Creditor as soon as the same is filed before this Authority. List the matter for further hearing along with IA 2495 of 2020 on 02.11.2021. - - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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