ORDER

1. The present Petition has been filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as ‚Code/IBC, 2016") r/w Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 by State Bank of India (hereinafter referred to as ‚Financial Creditor‛) for initiating insolvency resolution process against Mr. Ashok (hereinafter referred to as ‚Personal Guarantor‛) of MPL Cars Private Limited (hereinafter referred to as ‚Corporate Debtor‛).

3. Part – I of the application shows the details of the SBI/ Financial Creditor. The registered address is located at SBI, Stressed Asset Management Branch, Red Cross Building, Montieh Road, Egmore, Chennai - 600 008.

5. Part – III of the application shows that the SBI/ Financial Creditor has given the value of total debt as Rs.36,50,28,970/- (Rupees Thirty six Crore fifty lakh twenty eight thousand and nine seventy only) covering Principal amount together with interest as on 07.10.2020 and the Date