Tata Capital Financial Services Limited vs Ashwin N Sabnani

The above Company Petition is filed by Tata Capital Financial Services Limited, Petitioner herein for initiation of Insolvency Resolution Process against Ashwin N Sabnani, Respondent/Personal Guarantors of the Corporate Debtor. Notice is duly served on the Respondent/Personal Guarantors.

Learned counsel appearing for the Petitioner invited the attention of this Bench to the demand notice 11.04.2022 invoking the Guarantee against the Respondent/Personal Guarantor and also the proof of delivery of the demand notice. The Petitioner also invited the attention of this Tribunal to the letter of guarantee dated 28.08.2015 executed by the Respondent and another Personal Guarantor on behalf of Corporate Debtor in favour of the Petitioner. The Petitioner also invited the attention of this Tribunal to the written consent dated 28.05.2022 of Resolution Professional.

After hearing the submissions and upon perusing the above documents, this Bench hereby appoints Mr. Rajesh Ramnani, Insolvency Professional, Registration No: IBBI/IPA-002/IP-N00993/2020-2021/13187 as the resolution professional from the list furnished by the Insolvency and Bankruptcy Board of India (IBBI) since the name of the proposed RP was suggested by the Applicant/Financial Creditor. RP is directed to examine the petition and file his report within 10 days from the date of this order. Registry is directed to communicate this order to the Resolution Professional immediately.

List this mater on 21.03.2023 for submission of the report by the Resolution Professional.