ORDER

(Hearing through hybrid mode

This application has been filed under Section 94 (1) of the Insolvency and Bankruptcy Code, 2016 (’Code’/ ’IBC’) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019 (’Rules’) by the Applicant/ Personal Guarantor " K M Panneerselvam", to initiate the Insolvency Resolution Process in respect of "K M Panneerselvam", being the Personal Guarantor for KMP Spinners Private Limited (’Corporate Debtor"). SUBMISSIONS OF THE APPLICANT

2. The Applicant has given the particulars of debt in Part-III of the application, including interest for Indian Overseas Bank as Rs.24,31,81,344/- (Rupees Twenty Four Crores Thirty One Lakhs Eighty One Thousand Three Hundred and Forty Four only), amount of default as Rs.24,31,81,344/- (Rupees Twenty Four Crores Thirty One Lakhs Eighty One Thousand Three Hundred and Forty Four only) and the date of default as 30.06.2019. Particulars of Debt for Aditya Birla Finance Limited as Rs.6,94,34,457/- (Rupees six crores ninety four lakhs thirty four thousand four hundred and fifty seven only), amount of default a