501 IN THE NATIONAL COMPANY LAW TRIBUNAL DIVISION BENCH (COURT– I) CHENNAI ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON 13.02.2026 THROUGH VIDEO CONFERENCING ----------------------------------------------------------------------------------------------------------------

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

HON’BLE SHRI. VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL ----------------------------------------------------------------------------------------------------------------

IN THE MATTER OF : Shareef Sehuribas Vs Axis Bank Ltd MAIN PETITION NUMBER : CP(IBC)/289(CHE)/2025 (IA/MA) APPLICATION NUMBERS IA(IBC)/1850(CHE)/2025 ----------------------------------------------------------------------------------------------------------------

ORDER Present: None for the Petitioner. None for the Financial Creditor.

Vide separate order pronounced in Open Court, petition is admitted.

Insolvency proceedings are initiated against the Petitioner / Personal Guarantor.

Shri. M. Govindarajan is appointed as the RP.

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

MG Date: 13.02.2026 IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – I, CHENNAI CP(IB)/289/CHE/2025 [filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, R/w Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019]

In the matter of Shareef Sehuribas Vs Axis Bank

1. Mr. Shareef Sehuribas, Present Address:

c/o Fourth Dimension Pipeline LLC, Office No. 1, Mezzanine Floor, City Plaza 4 Building, Almajaz 2, Jamal Abdelnassar, Sharjah, UAE Permanent Address:

No. 3, 3rd Pandian Street, Rajivgandhi Nagar, Thathankuppam, Villivakkam, Chennai – 600 049 E-mail: shareef@swengg.com . . . Petitioner / Guarantor Vs.

1. Axis Bank Limited Legal and Support Team, 2nd Floor, Door No. 31, Old No. 14, South Mada Street, Mylapore, Chennai – 600 004 . . . Respondent / Financial Creditor Present:

For Petitioner : A.S. Sathish Kumar, Advocate For Respondent : V.V. Sivakumar, Advocate Chethan Sagar, Advocate for Axis Bank.

Along with IA(IBC)/1850(CHE)/2025 IN CP(IB)/289/CHE/2025 [filed under Section 99(1) of the Insolvency and Bankruptcy Code, 2016]

In the matter of Shareef Sehuribas Vs Axis Bank

1. M. Govindarajan, IBBI/IPA-003/IP-N00293/2020-2021/13290, 55 Rajaram Street, Jawahar Nagar, Tirumangalam – 625706 Madurai District.

. . . Applicant / Interim Resolution Professional Present:

For Applicant : J. Akilan, Advocate CORAM:

SANJIV JAIN, MEMBER (JUDICIAL)

VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

Order Pronounced on 13th February, 2026 ORDER (Heard through Hybrid Mode)

This petition under Section 94 of IBC r/w Rule 6 (1) 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 Shareef Sehuribas (Personal Guarantor).

The prayer made in the petition is to initiate insolvency resolution process against the Personal Guarantor / Corporate Debtor SW Engineering Private Limited, Chennai. The total debt outstanding with interest is Rs. 4,81,35,784/-. The date of default as specified in Part – III of the petition is 18.10.2023.

2. Part – I of the petition sets out the details of the Petitioner / Personal Guarantor having address at 3rd Pandian Street, Rajiv Gandhi Nagar, Thathankuppam, Villivakkam, Chennai – 600 049. He has two properties at Anna Nagar, Chennai and Vellore District which have been mortgaged with Axis Bank Limited. Part – III of the petition provides the particulars of debt pertaining to Axis Bank amounting to Rs. 4,81,35,784/- with date of default as 18.10.2023.

3. It is stated that the Corporate Debtor SW Engineering Private Limited had availed financial facilities from the Axis Bank. It defaulted in meeting its repayment obligations. As a result of default, the Axis Bank classified the Corporate Debto