COMMON ORDER

(Hearing through hybrid mode Brief Facts

1. The present petition , is filed by the Financial Creditor namely, RKJ Enterprises (hereinafter referred as ‘Petitioner/ FC’) against Mr. Sanjeevi (hereinafter referred as ‘PG’), who has given Personal Guarantor of Sri Venkatramana Paper Mills Private Limited (hereinafter referred as ‘CD’) under Section 95 (1) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as ‚Code/IBC, 2016") r/w Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, for initiating personal insolvency resolution process on 10.01.2023.

2. It is stated that, Section 7 Petition was instituted before this Tribunal against the above said CD, Sri Venkatramana Paper Mills Private Limited by the same Petitioner herein, which had been numbered as CP(IB)/107(CHE)/2022.

However, the said Petition was withdrawn on the basis of settlement.

3. It is stated that, after withdrawing the said Section 7 petition by the FC, the PG failed to honour the settlement and thus the present petition against the PG has been instituted.

4. Part – I of th