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IN THE NATIONAL COMPANY LAW TRIBUNAL

DIVISION BENCH (COURT– I) CHENNAI

ATTENDANCE CUM ORDER SHEET OF THE HEARING

HELD ON 24.01.2025 THROUGH VIDEO CONFERENCING

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PRESENT: HON’BLE SHRI. SANJIV JAIN, MEMBER (JUDICIAL)

HON’BLE SHRI. VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL

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IN THE MATTER OF : Ganesh Kumar Patwari MAIN PETITION NUMBER : CP(IB)/105(CHE)2024

(IA/MA) APPLICATION NUMBERS

IA/1526(CHE)/2024

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ORDER IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – I, CHENNAI CP(IB)/105(CHE)/2024 (Under Section 100 of the Insolvency and Bankruptcy Code, 2016)

Present: Ld. Counsel Shri. A. S. Satish Kumar for the Petitioner.

None for the Financial Creditor.

Ms. Satyadevi Alamuri, IRP in person.

Vide separate order pronounced in Open Court, the petition is admitted.

Insolvency proceedings is initiated against the Personal Guarantor / Petitioner.

Ms. Satyadevi Alamuri is appointed as the RP. The report filed by the IRP is taken on record.

IA/1526(CHE)/2024 is disposed of.

Sd/- Sd/-

(VENKATARAMAN SUBRAMANIAM) (SANJIV JAIN) MEMBER (TECHNICAL) MEMBER (JUDICIAL)

MG

In the matter of Mr. Ganesh Kumar Patwari

1, Chittaranjan Road, Teynampet, Chennai Tamil Nadu 600 018 ...Applicant/Financial Creditor Versus ICCI Bank Ltd., No.1, Cenetoph Road, Teynampet, Chennai – 600 018 Rep.by Mr. Abhijit Vellanki, Legal Manager – Retail Litigation Group ...Respondent/Personal Guarantor Along with IA(IB)/1526(CHE)/2024 In CP(IB)/105(CHE)/2024 Satyadevi Alamuri IP.Reg. IBBI/IPA – 002/IP-N00071/2017-18/10205 Email Id: satyadevifcs@gmail.com …Resolution Professional CORAM :

SANJIV JAIN, MEMBER (JUDICIAL)

VENKATARAMAN SUBRAMANIAN, MEMBER (TECHNICAL)

For Applicant : A.S.Sathish Kumar, PCS For Respondent : S.Vasudevan, K.Krishnaswamy, R.Vetrivel, M.Deepthadevi, L.Sai Prashanth, V.Velvizhi, Advocates For IRP : SatyadeviAlamuri, RP in person Order pronounced on 24th January, 2025

COMMON ORDER

(Hearing through hybrid mode

1. The present Application (CP(IB)/105/CHE/2024) has been filed u/s. 94 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “IBC, 2016") r/w. Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 by Ganesh Kumar Patwari (“Personal Guarantor”) for initiating insolvency resolution process in respect of default amount of INR 9,18,10,306/-(Rupees Nine Crores Eighteen Lakhs Ten Thousand three Hundred and Six Only) together with interest. The Date of Default, as specified in Part-III of the present Application is 21.02.2024.

This Application has been filed before this Tribunal on 21.02.2024.

2. Part – I of the application sets out the details of the Personal Guarantor. Address is mentioned as No1, Chittaranjan Road, Teynampet, Chennai, Tamil Nadu – 600 018. Part-III of the application sets out the details of Creditor, Corporate Debtor, debt amount and default amount. It is stated that, ICICI Bank Limited is the Creditor. The debt amount is stated as Rs.9,18,10,306/- (Rupees Nine Crores Eighteen Lakhs Ten thousand Three Hundred and Six only). Date of default is stated as 21.02.2024. It is stated that, the Applicant stood as the Personal Guarantor for the loans availed by Swiftmail communications Limited (Corporate Debtor).

3. It is stated that the Corporate Debtor had availed credit facilities from ICICI Bank Limited.

4. It is stated that the Applicant, Ganesh Kumar Patwari guaranteed the payment on demand of all moneys and discharge of all obligations and liabilities owing or incurred to the bank, the secured creditor by the borrower company.

5. It is stated that the Corporate Debtor defaulted in the payment and therefo