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 was filed on 24.03.2021 before this Adjudicating Authority on the ground that the Guarantor has defaulted to make a payment of a sum of Rs. Rs.8,94,58,478/-.

4. The details of transactions leading to the filing of this petition as averred by the Petitioner are as follows:

i. The Corporate Debtor, where the Personal Guarantor was a director, approached SFSPL f