IA(I.B.C)/1988(KB)2024

in

C.P.(IB)/285(KB)2024

AnApplication under Section 95(1) of theInsolvency andBankruptcy Code,2016read with

Rule7(2) of theInsolvency andBankruptcy (Application toAdjudicating Authorityfor

Insolvency ResolutionProcess for Personal GuarantorstoCorporateDebtors)Rules, 2019

In thematter of:

UCOBank

…FINANCIAL CREDITOR

Versus

Rahul Gupta

…RESPONDENT/PERSONALGUARANTOR

Dateofpronouncement: 08/01/2025

CORAM:

Smt. BidishaBanerjee, Member (Judicial)

ShriD.Arvind, Member (Technical)

Appearance(via videoconferencing/physically)

Forthe Financial Creditor

Ms.Pallavi Ray, Adv.

Mr. Rahul Sharma, Adv.

OR DE R

Per:Bidisha Banerjee,Member (Judicial)

1. TheCourt Convened in a hybrid mode.

2. This C.P. (IB)/ 285 (KB)2024 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, 2016 read with applicable

Regulation of the Insolvency and Bankr