Section 94 IBC petition by personal guarantor admissible on proof of debt and default alone; no assessment of repayment capacity or assets required at admission stage; IRP role facilitative, not investigative.

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 S. Senthil Kumar (“Personal Guarantor”). The prayer made in the petition is to initiate insolvency resolution process against the Personal Guarantor of the Corporate Debtor i.e., Biogen Fertilizers India Private Limited. The total debt outstanding together with interest is Rs.11,63,02,343/- (Rupees Eleven Crores Sixty-Three Lakhs Two Thousand Three Hundred and Forty-Three Only). The Date of Default, as specified in Part-III of the Petition is 13.09.2025. This Petition has been filed on 20.10.2025.

2. Part – I of the Petition sets out the details of the Petitioner / Personal Guarantor having address at No. 23-C-E, Cherarajan Street, Palace Towers, Salem TN 636 001. Part – III of the Petition provides the particulars of the date of default as 13.09.2025. The particulars of the Debt is extracted hereunder:

3. It is stated that the Corporate Debtor viz., Biogen Fertilizers India Private Limited had availed various credit facilities from the Respondent/ Financial Creditor between August 2018 and March 2023. The facilities are secured by the assets of the corporate debtor and the personal assets of the Guarantors (including that of the Applicant). In March 2019, the Corporate Debtor also availed loans from the Technology Development Board (TBD).

4. It is stated that the Corporate Debtor defaulted in meeting its repayment obligations to the Respondent and as a result of this default, the Respondent classified the Corporate Debtor's accounts as Non-Performing Assets (NPA) on 13.09.2025. The Respondent invoked the personal guarantee of the Applicant through a Demand Notice dated 15.09.2025 issued under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("SARFAESI Act").

5. It is stated that the Corporate Debtor and the Petitioner were engaged in continuous discussions with the Respondent and the Petitioner had made unstinted efforts to regularise the account. Since no response was forthcoming from the Respondent, the Petitioner is forced to file the present Petition under Section 94 of the IBC, 2016 to resolve his guarantee obligations.

6. It is stated the Corporate Debtor has not been undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016.

7. On presentation of this petition, this Tribunal vide an order dated 18.11.2025, appointed CA S. Prabhu as the Interim Resolution Professional (“IRP”) to examine the petition and recommend for acceptance / rejection of the petition as contemplated under Section 99(1) of IBC, 2016.

8. Pursuant to the order, IRP submitted his report dated 10.12.2025 in 9. It is stated in the Report, that the petition filed herein complies with the statutory requirements, including the submission of Form A, payment of the prescribed fee, and provision of supporting documents. The debts listed in the application do not fall under the excluded debts as defined in Section 79(15) of the IBC. Furthermore, the petiti