IN

C.P. (IB)/142(KB)2022

An application under Section 95 read with Section 60(2) of the

Insolvency and Bankruptcy Code, 2016 read with Insolvency and

Bankruptcy (Application to Adjudicating Authority for Insolvency

Resolution Process for Personal Guarantors to Corporate Debtors) Rules,

2019

In the matter of: Bank of Baroda

…Financial Creditor

Versus

Arup Thakur

…Personal Guarantor

And

Jaishree Kannan

…Resolution Professional

Date of pronouncement: 05.06.2024

CORAM:

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

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

Appearance (via video conferencing/physically)

Ms. Sanjana Nandi, Adv. ] For the Financial Creditor

Mr. Avik Chaudhuri, Adv. ] For the Resolution Professional

O R D E R

IN C.P. (IB)/142(KB)2022 Per: D. Arvind, Member (Technical)

1. The Court Convened in a hybrid mode.

2. This I.A.(IB)No.506/KB/2024 in C.P.(IB)/142(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 Guar