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Judgment
O R D E R
This is an application filed by the Financial Creditor for the Resolution Professional for closure of the proceedings in CP (IB) No. 105/95/HDB/2022 and grant leave to file Petition to declare the Personal Guarantor as bankrupt. Heard.
This Tribunal order dated 09.01.2023 in IA 1583/2022 had recorded that despite giving sufficient opportunity to the Personal Guarantor to submit the Repayment Plan, the Personal Guarantor failed to submit any repayment plan. Today the Resolution Professional who appeared in person reiterated that no repayment plan is received from the Personal Guarantor and prayed to initiate the proceedings against the Personal Guarantor by declaring him as bankrupt. Having heard the financial creditor, on perusal of the record, besides taking into consideration the facts and circumstances of the case, we hereby allow the CP. The Financial Creditor is at liberty to take necessary steps under law to declare the Personal Guarantor as bankrupt.