IN THE NATIONAL COMPANY LAW TRIBUNAL

MUMBAI BENCH COURT III

Under Section 95 of the Insolvency and

Bankruptcy Code, 2016

Bank of Baroda

Having registered address at:

Stressed Assets Management Branch, Dena Building, 1st Floor, 17-B, Homji

Street, Horniman Circle, Fort,

Mumbai 400023

… Financial Creditor/ Petitioner

Vs.

Mr. Pawan V Kikavat

Personal Guarantor of M/s Mahavir Roads

and Infrastructure Pvt Ltd.

Having address at:

Plot 168, Neelkanth Jyot, 90 Feet Road,

Ghatkopar E, Mumbai - 400077

… Personal Guarantor/ Respondent

Order pronounced on: 05.12.2025

Coram:

SMT. LAKSHMI GURUNG, MEMBER (JUDICIAL)

SHRI. HARIHARAN NEELAKANTA IYER, MEMBER (TECHNICAL)

Appearances:

For the Petitioner: Adv. Kairav Trivedi (VC)

For the Respondent: Adv. Khushi Nandu (VC) a/w Adv. Mahima Shah

Adv. Rishabh Dhanuka i/b Agarwal and Dhanuka Legal

Per: Smt. Lakshmi Gurung, Member (Judicial

ORDER

1. The Company Petition No. 140 of 2022 was filed by Bank of Baroda (‘Financial Creditor’) under section 95 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as ‘Code’) seeking to initiate Insolvency Resolution Process against Mr. Pawan V Kikavat (‘Personal Guarantor’ ) being the Personal Guarantor to M/s Mahavir Roads and Infr