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Judgment
ORDER
Heard the counsel appearing for the applicant. The above company petition is filed by M/s. IDBI Bank Limited who is the Financial Creditor herein for initiation of Insolvency Resolution Process against the respondent who is the Personal Guarantor of the Corporate Debtor. Notice is duly served on the Respondent/Guarantor.
Learned counsel appearing for the petitioner invited the attention of this bench to the demand notice dated 07.12.2020 invoking the Guarantee against the respondent and also invited the attention of this bench to the proof of delivery of the Demand Notice. The petitioner also invited the attention to the deed of Guarantee dated 27.05.2019 executed by respondent under which he has agreed to pay an amount of Rs. 63,71,41,818.28 crores with interest in case of a default committed by the Principal Borrower, M/s. SPG Multi Trade Pvt. Ltd. The Financial Creditor suggested the name of the Insolvency Professional.
After hearing the submissions and upon perusing the above documents, this Bench hereby appoints Mr. Surya Pratap Gupta as Resolution Professional having Registration No. IBBI/IPA-001/IP-P01060/2017-2018/11753 to examine the petition and file his report within 10 days from the date of this order. List this matter on 27.07.2022 for submission of the report by the RP.