IN THE NATIONAL COMPANY LAW TRIBUNAL, BENGALURU BENCH

[Through Physical hearing/VC Mode (Hybrid)]

ITEM No.33

I.A.No.597/2025 in

C.P. (IB) No.132/BB/2020

IN THE MATTER OF:

M/s. Reliance Capital AIF Trustee Company Pvt. Ltd. … Petitioner

Vs.

Mr. S. Sailesh … Respondent

Petition under Section 95 (1) of IBC, 2016

Order delivered on: 24.09.2025

CORAM:

SHRI SUNIL KUMAR AGGARWAL

HON’BLE MEMBER (JUDICIAL)

SHRI RADHAKRISHNA SREEPADA

HON’BLE MEMBER (TECHNICAL)

PRESENT:

For the RP : Shri Addanki Haresh

ORDER

I.A.No.597/2025:

1. I.A.No.597/2025 is allowed vide separate Order.

2. Posting the matter for updation on 28.11.2025.

-Sd/- -Sd/-

RADHAKRISHNA SREEPADA SUNIL KUMAR AGGARWAL MEMBER (TECHNICAL) MEMBER (JUDICIAL)

Shruthi

IN THE NATIONAL COMPANY LAW TRIBUNAL, BENGALURU BENCH (Exercising powers of Adjudicating Authority under The Insolvency and Bankruptcy Code, 2016)

I.A. No. 597/2025 in C.P. (IB)No.132/BB/2020 U/s. 112 of IBC, 2016 read with Regulation 17 of IBBI (IRP for Personal Guarantors to Corporate Debtors) Regulations, 2019 and Rule 11 of NCLT Rules, 2016 IN THE MATTER OF IA 597/2025:

Shri S. Sailesh.

Personal guarantor of Fortuna Buildcon Private Limited Through his Resolution Professional Mr.Addanki Haresh No-36/1, 2" floor, Munivenkatappa Complex, Bellary Road, Ganganagar, Bangalore -560032 Applicant IN THE MAIN MATTER OF: M/s Reliance Capital AIF Trustee Company Private Limited. ..... Petitioner/ Financial Creditor Vs Shri S. Sailesh .........Respondent/Personal Guarantor Order delivered on: 24.09.2025 CORAM: Shri Sunil Kumar Aggarwal, Hon’ble Member (Judicial)

Shri Radhakrishna Sreepada, Hon’ble Member (Technical)

PARTIES/COUNSELS PRESENT:

For the Applicant : Shri Addanki Haresh, RP O R D E R

1) This Application was filed on 10.07.2025 by Shri Addanki Haresh, Resolution Professional of Mr. S. Sailesh. Personal guarantor of Fortuna Buildcon Private Limited (“Applicant”), under Section 112 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 19 of IBBI (IRP for Personal Guarantors to Corporate Debtors) Regulations, 2019 inter-alia for approval of repayment plan submitted by the Guarantor under Section 105 of the Insolvency and Bankruptcy Code, 2016 (“IBC/Code”) as follows: -

A. Approval of the Repayment Plan dated 23.06.2025 submitted by the Personal Guarantor.

B. Consider and approve the reliefs as claimed by the Personal Guarantor as listed in Para 17 of the Application which are as follows:

a. The payment by PG is based on the premise that there will be no further financial obligations towards Financial Creditor, Nippon India Group, and all other creditors, whether financial or operational, and Nippon India Group and the respective creditors shall immediately, and not later than 3 days, return the original guarantee agreement and all such negotiable instruments, including Demand Promissory Note, Cheques, etc., etc., such other agreements, and issue me a Discharge Certificate, b. Further, there shall no obligations against PG in respect of any claims/outstandings/

debt, in capacity of director and shareholder of Fortuna Urbanscape Private Limited (Corporate Debtor No.1) and Fortuna Buildcon Private Limited (Corporate Debtor No.2).

c. Any and all claims or demands in connection with or against PG and/ or any of the ex-

directors or ex-shareholders of the Fortuna Urbanscape Private Limited (Corporate Debtor No.1) and the Fortuna Buildcon Private Limited (Corporate Debtor No.2) including any demand for any losses or damages or in connection with any Third Party Claims or any investigations by any government bodies or authorities such as the Central Bureau of Investigation (CBI), Serious Fraud Investigation Office (SFIO), Enforcement Directorate (ED), or any other Govt. agency by or to any other stakeholder (including any other actual or potential creditor, if any or any counter-party including any subsidiary, joint venture or associate) whether under applicable Law, equity or contract whether admitted or not, due or contingent crystalized or uncrystalli