511 IN THE NATIONAL COMPANY LAW TRIBUNAL DIVISION BENCH (COURT– I) CHENNAI ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON 12.01.2026 THROUGH VIDEO CONFERENCE ---------------------------------------------------------------------------------------------------------------------------------

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

HON'BLE SHRI VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

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Application No :

Petition No : CP(IBC)/257(CHE)/2025 Name of Petitioner : Krithika Subramanian & Vs Name of Respondent : Indian Bank Section : Sec 94(1) of IBC, 2016 ---------------------------------------------------------------------------------------------------------------------------------

ORDER Present: Shri. A.S. Satish Kumar, Ld. Counsel for the Petitioner.

Shri. Pravin Kumar, Ld. Counsel for Indian Bank.

Ms. Santhanalakshmi, Ld. Counsel for the RP Vide separate order pronounced in Open Court, Personal Insolvency Resolution Process is initiated against Ms. Krithika Subramanian and Ms. Ramela Rangasamy is appointed as the RP.

Sd/- Sd/-

[VENKATARAMAN SUBRAMANIAM] [SANJIV JAIN]

MEMBER (TECHNICAL) MEMBER (JUDICIAL)

MG

Date: 12.01.2026

IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – I, CHENNAI CP(IB)/257(CHE)/2025 (under Section 94 of the Insolvency and Bankruptcy Code, 2016 Krithika Subramanian, No.20, Urur Olcott Kuppam Road, Beasant Nagar, Chennai – 600 090.

...Personal Guarantor / Petitioner Vs Indian Bank, Anna Salai Branch, No.41, Anna Theatre Building, Anna Salai, Chennai – 600 002.

...Financial Creditor / Respondent … Interim Resolution Professional / Petitioner Order pronounced on 12th January, 2026 CORAM SHRI. SANJIV JAIN, MEMBER (JUDICIAL)

SHRI. VENKATARAMAN SUBRAMANIAN, MEMBER (TECHNICAL)

For Petitioner : Mr. A.S. Sathish Kumar, PCS For IRP : Mr. M. Arjun, Advocate For Respondent : Mr. Pravin Kumar, Advocate

O R D E R

(Hearing through hybrid mode

1. This Petition under Section 94 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “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 has been filed by Krithika Subramanian (“Personal Guarantor”). The prayer made in the petition is to initiate insolvency resolution process against the Personal Guarantor of the Corporate Debtor, (SKS Hotel and Holding Private Limited, “Corporate Debtor”). The total debt outstanding for the Respondent is Rs.8,67,07,416/- (Rupees Eight Crores Sixty-Seven Lakhs Seven Thousand and Four Hundred and Sixteen Only). The Date of Default, as specified in Part-III of the Petition is

08.05.2025. This Petition has been filed on 30.07.2025.

2. Part – I of the Petition sets out the details of the Petitioner / Personal Guarantor having address at No.20, Urur Olcott Kuppam Road, Besant Nagar, Chennai – 600 090. Part – III of the petition provides the particulars of the debt as Rs.8,67,07,416/- with date of default as 08.05.2025.

3. It is stated that the Corporate Debtor viz., SKS Hotel and Holding Private Limited had availed various credit facilities from the Financial Creditor. Till date, no Corporate Insolvency Resolution Process has been initiated against the Corporate Debtor.

4. It is stated that the Personal Guarantor and Mr. Sumanth Subramanian in their personal capacity, irrevocably and unconditionally guaranteed the due repayment of the amounts in respect of its loan availed, by executing an agreement of guarantee dated 14.11.2022. The Corporate Debtor defaulted in repaying the amount. As a result, the Corporate Debtor’s account was declared NPA and the personal guarantee was invoked by a demand notice dated 09.05.2025.

5. It is stated that term loan agreement dated 14.11.2022, agreement of hypothecation dated 14.11.2022, personal guarantee agreement dated 14.11.2022 and additional