504

IN THE NATIONAL COMPANY LAW TRIBUNAL

DIVISION BENCH–I, CHENNAI

ATTENDANCE CUM ORDER SHEET OF THE HEARING

HELD ON 18.11.2025 THROUGH VIDEO CONFERENCING

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CORAM: HON’BLE SHRI. SANJIV JAIN, MEMBER (JUDICIAL)

HON’BLE SHRI. VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL

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IN THE MATTER OF : Aditya Birla Capital Ltd.

Vs

Vijayalakshmi Subburaj

MAIN PETITION NUMBER : CP(IBC)/13/CHE/2024

(IA/MA) APPLICATION NUMBERS

IA(IBC)/1636(CHE)/2025

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ORDER IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – I, CHENNAI IA(IB)/1636(CHE)/2025 in CP(IBC)/13(CHE)/2024 (filed under Section 112,114,115 of Insolvency and Bankruptcy Code, 2016, read with Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019)

Present: Shri. Ullasa BC, Ld. PCS for the RP,

Vide separate order pronounced in the Open Court, the resolution process

against the personal Guarantor is closed condoning the delay.

Liberty is granted to the creditors/debtor to initiate bankruptcy proceedings

against the Personal Guarantor.

Sd/- Sd/-

VENKATARAMAN SUBRAMANIAM SANJIV JAIN MEMBER (TECHNICAL) MEMBER (JUDICIAL)

VS

Date: 18.11.2025

In the matter of Mrs. Vijayalakshmi Subburaj Ravindra Beleyur IBBI/PA-001/IP-00189/2017-18/10368 Resolution Professional of Mrs. Vijayalakshmi Subburaj 'Shreevathsa', No 428, 19th B Cross Road, Jayanagar, 03rd Block, Bengaluru - 560 011 Ph No:- 9448146963 Email id:- ravi@beleyur.com AFA-AA1/10368/02/311225/107375 …Applicant/Resolution Professional Order pronounced on 18th November, 2025 CORAM :

SANJIV JAIN, MEMBER (JUDICIAL)

VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

For Petitioner: Mr. Sri Ullasa B.C ,PCS ORDER

1. This application has been filed under Section 112 of Insolvency and Bankruptcy Code, 2016 read with Regulations 19 of IRP for Personal Guarantor to Corporate Debtors Regulations, 2019, seeking the following reliefs:

I. to take on record the report of meeting of the creditors submitted by the Resolution Professional, II. to permit the creditors to submit a bankruptcy Application under Chapter IV of IBC, 2016.

III. Codone the delay of 46 days (from 23.08.2025 to 08.10.2025) in submitting the report of the Applicant, which is unintentional.

2. Briefly the facts are that the insolvency resolution process against Mrs.

Vijayalakshmi Subburaj, Personal Guarantor to Velohar Infra Private Limited was initiated on an application under Section 95 of the IBC, 2016, filed by Aditya Birla Capital Limited (The Financial creditor) vide an order dated 25.04.2025 in IA(IBC)/647(CHE)/2024. Mr. Ravindra Beleyur was appointed as the Resolution Professional.

3. The Resolution Professional made the Public Announcement on 5th May 2025 in The Times of India (English) Tamil Nadu Edition, and The Hindu (Tamil) - Tamil Nadu Edition in accordance with section 102 of IBC, 2016. The last date for submission of claims was 26th May 2025. The Resolution Professional received claims from two Creditors namely, Bank of India amounting to Rs. 87,54,792/- and from Aditya Birla Capital Limited amounting to Rs. 6,85,93,573/-. Subsequently, Bank of India vide letter dated 25th August 2025 conveyed that it does not wish to continue with the Individual Insolvency Resolution Process of the Personal Guarantor under the IBC, 2016, and accordingly withdrew its claim.

4. Section 106 of the Code mandates the RP to submit the repayment plan under Section 105, along with his report on such plan to the Adjudicating Authority within 21 days from the last date of receipt of the Claim. Accordingly, the RP filed the report under section 106 on 5th July 2025 in IA(IBC)/1127 (CHE)/2025. The report was taken on record on 1st