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NATIONAL COMPANY LAW TRIBUNAL
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED – Appellant
Versus
Ravi kumar jain – Respondent
| Table of Content |
|---|
| 1. filing of personal insolvency petition. (Para 1 , 2 , 3 , 4) |
| 2. objections raised by personal guarantor. (Para 6 , 7) |
| 3. description of the auction purchase and prior loan agreements. (Para 10 , 11 , 12) |
| 4. determination of maintainability of section 95 petition. (Para 18 , 22) |
| 5. final judgment and dismissal of petition. (Para 23 , 24 , 25) |
JUDGMENT
I.A. No. 2026 of 2024, I.A. No. 2027 of 2024 and C.P.(IB) No.178/Chd/Hry/2021 are taken up together for discussion and adjudication, being inter-related and interconnected.
C.P.(IB) No.178/Chd/Hry/2021:
The present petition has been filed by Siemens Financial Services Private Limited, (hereinafter referred to as the “Petitioner” or “SFSPL”), under Section 95 of the Insolvency and Bankruptcy Code, 2016, (hereinafter referred to as the “Code” or “IBC”) to initiate Personal Insolvency Resolution Process (hereinafter referred to as the “PIRP”) against Ravi Kumar Jain, (hereinafter referred to as the “Personal Guarantor”).
2. The registered office/address of the Corporate Debtor and the Personal Guarantor is situated in the State of Haryana, falling under the jurisdiction of this Adjudicating Authority.
3. The present application w
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