An application under Section 95(1) of the Insolvency and Bankruptcy

Code, 2016.

In the matter of:

State Bank of India …Financial Creditor

Versus

Nikunj Bothra

…Personal Guarantor

And

Neeraj Kumar Sureka

…Applicant/Resolution Professional

Date of pronouncement:07.01.2025

CORAM:

SMT. BIDISHA BANERJEE, HON’BLE MEMBER (JUDICIAL)

SHRI D. ARVIND, HON’BLE MEMBER (TECHNICAL)

Appearance (via video conferencing/physically)

Mr. Uttiyo Mallick, Adv. ] For the Financial Creditor

Ms. Payal Saha, Adv. ] Ms. Vedika Sureka, Adv. ]

Mr. Saurav Jain, Adv. ] For the Resolution Professional

Mr. Anuj Singh, Adv. ] For the Personal Guarantor

Ms. Ankita Baid, Adv. ] Ms. Trinisha De, Adv. ]

O R D E R

Per: Bidisha Banerjee, Member (Judicial)

1. The Court Convened in a hybrid mode.

2. This C.P.(IB)/262(KB)2022 has been preferred by the Financial Creditor to seek initiation of Insolvency Regulation Process against the Respondent Personal Guarantor to Corporate Debtor Rule, 2019 (“Personal Guarantors Rules”) and Regulation 4(2) of IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 (‘Personal Guarantors Regulations’) in terms of Section 99 (1) of the Insolvency and Bankruptcy Code, 201