IA(IBC)/320/KOB/2025 IN CP(IBC)/44/KOB/2024

&

IA(IBC)/321/KOB/2025 IN CP(IBC)/42/KOB/2024

&

IA(IBC)/322/KOB/2025 IN CP(IBC)/51/KOB/2024

&

IA(IBC)/323/KOB/2025 IN CP(IBC)/53/KOB/2024

&

IA(IBC)/324/KOB/2025 IN CP(IBC)/52/KOB/2024

(Under Section 112 read with Sections 114(1) and

115(2) of the IBC, 2016,)

1. IA(IBC)/320/KOB/2025 in CP(IBC)/44/KOB/2024

In the matter of:

M/s. Tata Capital Ltd. v. Mr. Joby Varghese

MEMO OF PARTIES:

Mr. Jasin Jose, Resolution Professional,

Ponmattam, Madasserry, Mookkannoor

683 577.

–

…Applicant/Resolution Professional

2. IA(IBC)/321/KOB/2025 in CP(IBC)/42/KOB/2024

In the matter of:

M/s. Tata Capital Ltd. v. Mr. Bobby Abraham

MEMO OF PARTIES:

Mr. Jasin Jose, Resolution Professional,

Ponmattam, Madasserry, Mookkannoor

683 577.

–

…Applicant/Resolution Professional

3. IA(IBC)/322/KOB/2025 in CP(IBC)/51/KOB/2024 In the matter of:

M/s. Tata Capital Ltd. v. Mr. Shinekumar Krishnan Nair.

MEMO OF PARTIES:

Mr. Jasin Jose, Resolution Professional, Ponmattam, Madasserry, Mookkannoor

683 577.

–

…Applicant/Resolution Professional

4. IA(IBC)/323/KOB/2025 in CP(IBC)/53/KOB/2024 In the matter of:

M/s. Tata Capital Ltd. v. Mrs. Jasmine Varghese MEMO OF PARTIES:

Mr. Jasin Jose, Resolution Professional, Ponmattam, Madasserry, Mookkannoor

683 577.

–

…Applicant/Resolution Professional

5. IA(IBC)/324/KOB/2025 in CP(IBC)/52/KOB/2024 In the matter of:

M/s. Tata Capital Ltd. v. Mr. Jossan Varghese MEMO OF PARTIES:

Mr. Jasin Jose, Resolution Professional, Ponmattam, Madasserry, Mookkannoor

683 577.

–

…Applicant/Resolution Professional Order delivered on: 28.08.2025 Coram:

HON’BLE MEMBER (JUDICIAL) SHRI. VINAY GOEL HON’BLE MEMBER (TECHNICAL) SMT. MADHU SINHA Appearances:

For theApplicant :Mr.Akhil Suresh, Advocate : Mr. Jasin Jose, Resolution Professional.

O R D E R

Per Coram:

1. All these Applications arise from the Insolvency resolution process of Personal Guarantors of M/s. Simtel Trading Corporation Private Limited, the Corporate Debtor (CD). Therefore, all these applications have been taken together to avoid repetition and common order is being passed.

2. The instant applications arose from the Insolvency resolution process of Mr. Joby Varghese, Mr. Bobby Abraham, Mr. Shinekumar Krishnan Nair, Mrs. Jasmine Varghese & Mr. Jossan Varghese,Personal Guarantors of M/s. Simtel Trading Corporation Private Limited, the Corporate Debtor. These applications have been filed by CA Mr. Jasin Jose, the Resolution Professional appointed by this Tribunal in the matter of M/s. Simtel Trading Corporation Private Limited, inter-alia seeking an order of this Adjudicating Authority to take on record the report of RP, reporting that the Personal Guarantors failed to submit repayment plan, accordingly, the Insolvency Resolution Process against the Personal Guarantors herein be concluded and Bankruptcy of the Personal Guarantor can be initiated. The prayers sought in these applicationsare asunder: -

a. To take the Report of the Resolution Professional on the meeting of the creditors as per Regulation 17(B) of IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 on record under Sec. 112 of IBC;

b. Pass an order Non submission of Repayment Plan is as good as rejecting the plan under Section 114(1) of IBC on the basis of the Report of the meeting of the creditors;

c. Pass an order under Section 115(2) of IBC declaring that the creditors shall be entitled to file an application for bankruptcy; and d. Pass such other orders that this Hon’ble Tribunal deems fit in the interest of justice.

3. The insolvency resolution process against Mr. Joby Varghese, Mr. Bobby Abraham, Mr. Shinekumar Krishnan Nair, Mrs. Personal Guaran ere initiated by way of applicationsfiled Jasmine Varghese & Mr. Jossan Varghese, (hereinafter ‘these under Section 95 by M/s.Tata Capital Limited.

tors’) w

4. These applications were admitted by this Adjudicating Authority by way of an order dated 06.05.2025 passed in CP(IBC)/42/KOB/2024,CP(IBC)/44/KOB/2024,CP(IBC)/51/KOB /2024,CP(IBC)/52/KOB/2