ORDER

1. The applicant/Financial Creditor has filed this application under Section 121 of Insolvency and Bankruptcy Code, 2016 read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtor) Rules, 2019 to initiate Bankruptcy Process against Respondent, the Personal Guarantor of M/s. Totem Infrastructure Limited.

2. The averments in brief of the Application are that

2.1 It is averred that the Corporate Debtor namely M/s Totem Infrastructure Limited has availed the Credit facilities sanctioned by the Creditor (who is the applicant) and its Associate Banks i.e., erstwhile State Bank of Hyderabad, erstwhile State Bank of Mysore, erstwhile State Bank of Bikaner and Jaipur.

2.2 It is averred that the Corporate Debtor account slipped to NPA category on account of the default committed by the Corporate Debtor in repayment of the debt due to the Financial Creditors including the Applicant.

2.3 It is averred that, due to non-payment of the outstanding amounts by the Respondent No.2/ Corporate Debtor and the Respondent No.1/Personal Guarantor, the Financial Creditor and its Associate Banks have filed O.A