JUDGMENT

1. Under consideration is a Company petition bearing CP (IB) No. 4/GB/2023 filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “IBC, 2016”) read with rule 7 (2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019 (hereinafter referred to as “IB Rules, 2019”) and regulation 4(2) of IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 (hereinafter referred to as “IB Regulations, 2019”) for initiating the Insolvency Resolution Process (hereinafter referred to as “IR Process”) against Mr. Sumit Agarwal (hereinafter called as “Personal Guarantor”). The Respondent/Personal Guarantor, herein has stood as a Guarantor in respect of the loans availed by the Principal Borrower/Corporate Debtor viz. M/s Sundaram Mahadeo Autoworld Private Limited

2. The brief facts as submitted by the Petitioner/Financial Creditor are as follows:

2.1 M/s Sundaram Mahadeo Autoworld Private Limited ("Corporate Debtor") is a private company limited by shares which was incorporated on 29.05.2015. The Corporate