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NATIONAL COMPANY LAW TRIBUNAL COURT NO. 1 ITEM No.203 CP(IB)/7(MP)2025 Order under Section 95 IBC IN THE MATTER OF:

Sukhkarta Medicose ........Applicant V/s Anil Bandi ........Respondent Coram:

Hon’ble Shri Brajendra Mani Tripathi, Member (J)

Hon’ble Shri Man Mohan Gupta Member (T)

PRONOUNCEMENT OF ORDER Delivered on 10/09/2026 The case is fixed for pronouncement of the order.

The order is pronounced in open Court vide separate sheet.

Sd/- Sd/-

MAN MOHAN GUPTA BRAJENDRA MANI TRIPATHI MEMBER (TECHNICAL) MEMBER (JUDICIAL)

Tomar

IN THE NATIONAL COMPANY LAW TRIBUNAL BENCH AT INDORE Sukhkarta Medicose Acting through its partner Mr. Punit Harbans Lal (HUF)

Through its Karta Mr. Punit Lal Shop No. 1, 11 Old Palasia Indore - 452018, Madhya Pradesh …Applicant/Creditor Versus Mr. Anil Bandi, 4, Lad Colony, Opposite Tukoganj Police Station, Indore - 452003, Madhya Pradesh …Respondent/PG C O R A M:

HON’BLE SH. BRAJENDRA MANI TRIPATHI, MEMBER (J)

HON’BLE SH. MAN MOHAN GUPTA, MEMBER (T)

Pronounced on: 10.09.2026 Appearance:

For the Applicant : Mr. Prashant Gawali, Adv a.w.

Mr. Gaurav Devdhekar, Adv a.w.

Mr. Madhav Khandelwal, Adv a.w.

For the RP : Mr. Rohit Dubey, Adv a.w.

Mr. Harsh Firoda (RP-in-Person)

For the Respondent : None

O R D E R

The present Company Petition bearing CP (IB) No. 7(MP) of 2025 (“Petition”) has been filed by Sukhkarta Medicose (“Applicant”/“Creditor”), a partnership firm, acting through its partner Punit Harbans Lal (HUF), through its Karta, under Section 95 of the Insolvency and Bankruptcy Code, 2016 (“IBC”/“Code”) read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 (“Personal Guarantors Rules”), seeking initiation of the Personal Insolvency Resolution Process (“PIRP”) against Dr. Anil Kumar Bandi (“Personal Guarantor”/“Respondent”), who, along with Dr. Radhika Bandi, is a director of and personal guarantor to M/s Greater Kailash Hospitals Private Limited (“Corporate Debtor”).

BRIEF FACTS OF THE CASE:

a) The Corporate Debtor, M/s Greater Kailash Hospitals Private Limited, was incorporated on 07.11.2008, bearing CIN U85110MP2008PTC021307, having its registered office at 11/2 Old Palasia, Greater Kailash, Indore – 452001, Madhya Pradesh, and operates a hospital under the name and style “Greater Kailash Hospitals”. The Respondent and Dr. Radhika Bandi are the directors of the Corporate Debtor.

b) By an agreement dated 25.12.2017, the Applicant was granted the right to use shop premises owned by the Corporate Debtor for running its pharmacy and medicine business. Pursuant thereto, the Applicant deposited a sum of Rs. 2,10,00,000/- with the Corporate Debtor as an interest-free security deposit, refundable upon termination of the agreement.

c) On becoming aware that the Corporate Debtor was facing financial difficulties, the Applicant terminated the agreement and, by notice dated 31.01.2023, called upon the Corporate Debtor to refund the security deposit.

d) The Corporate Debtor, by its reply dated 15.02.2023, stated that the deposited amount had been utilised towards the hospital’s commercial operations and repayment of its lenders, and sought time for repayment. Upon expiry of the time sought, the Applicant issued a further notice dated 03.03.2023 reiterating its demand.

e) By its reply dated 31.03.2023, the Corporate Debtor proposed that the security deposit be treated as an unsecured loan repayable in instalments with interest, and a Board Resolution dated 31.03.2023 was passed authorising the respondent/ Dr. Anil Bandi to negotiate and execute the terms of such restructuring.

f) In pursuance thereof, a Modification Agreement dated 02.04.2023 was executed between the Applicant and the Corporate Debtor, whereby the sum of Rs. 2,10,00,000/- held as security deposit was converted into an unsecured loan, repayable in three quarterly instalments of Rs. 70,00,000/- each, falling