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Judgment
ORDER
Adv. Nidhi Mistry appeared for the petitioner. None has appeared for the Respondent.
Heard the Counsel appearing for the Petitioner. The above Company Petition is filed by Tata Capital Limited for initiation of the Insolvency Resolution Process against Mr. Custodio Sebastiao Fernandes who is the personal guarantor of Muktar Automobiles Private Limited.
The Financial Creditor invited attention to the copy of the Loan cum Guarantee Agreement executed by the Respondent in favour of the Petitioner dated 23.03.2019. Learned counsel appearing for the Financial Creditor further invited the attention of this Bench to the demand notice (Form-B) dated 18.02.2022 thereby calling upon the Personal Guarantor to pay an outstanding amount of Rs. 1,81,81,167.33/- (Rupees One Crore Eighty-One Lakhs One Hundred Sixty-Seven and Thirty-Three Paise) as on 27.11.2020 and also invited the attention of this Bench to the proof of the demand notice.
After hearing the submissions upon perusing the above documents, this Bench appoints Mr. Rajesh Ramnani, having IBBI Registration No. IBBI/IPA-002/IP-N00993/2020-2021/13187 having its registered address at D-44, Second Floor, Naraina Vihar, New Delhi -110028, email ID:[email protected] to examine the petition and file his report within 10 days from the date of the uploading the order. A copy of the report be served upon the personal guarantor. List this matter on 06.02.2025 for submission of the report and reply/objection, if any, on behalf of the Respondent.