Insolvency
and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution
Process for Personal Guarantors to Corporate Debtors) Rules, 2019
[Insolvency and Bankruptcy (Application to Adjudicating Authority
for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors)
Rules, 2019]
[15th November, 2019]
In exercise of the powers
conferred by sub-section (1), clauses (g), (h), (i), (m), (n) and (o) of
sub-section (2) of section 239 read with clause (e) of section 2 and
sub-section (2), clauses (c) and (e) of sub-section (14) and clause (e) of
sub-section (15) of section 79 of the Insolvency and Bankruptcy Code, 2016 (31
of 2016), the Central Government hereby makes the following rules, namely.
Rule - 1. Short title and commencement.
(1) These rules may be called
the Insolvency and Bankruptcy
(Application to Adjudicating Authority for Insolvency Resolution Process for
Personal Guarantors to Corporate Debtors) Rules, 2019.
(2) They shall come into force
from the 1st day of December, 2019.
Rule - 2. Application.
These rules shall apply to
insolvency resolution process for personal guarantors to corporate debtors.
Rule - 3. Definitions.
(1) In these rules, unless the
context otherwise requires,
(a) “Adjudicating Authority”
means.
(i) for the purpose of section
60, the National Company Law Tribunal constituted under section 408 of the
Companies Act, 2013 (18 of 2013); or
(ii) in cases other than
sub-clause (i), the Debt Recovery Tribunal established under sub-section (1A)
of section 3 of the Recovery of Debts and Bankruptcy Act, 1993 (51 of 1993);
(b) “Code” means the Insolvency
and Bankruptcy Code, 2016 (31 of 2016);
(c) “electronic form” shall
have the meaning assigned to it in clause (r) of section 2 of the Information
Technology Act, 2000 (21 of 2000);
(d) “form” means a form
appended to these rules;
(e) “guarantor” means a debtor
who is a personal guarantor to a corporate debtor and in respect of whom
guarantee has been invoked by the creditor and remains unpaid in full or part;
(f) “section” means section of
the Code;
(g) “serve” means sending any
communication by any means, including registered post, speed post, courier or
electronic form, which is capable of producing or generating an acknowledgement
of receipt of such communication:
Provided that where a
document cannot be served in any of the modes, it shall be affixed at the outer
door or some other conspicuous part of the house or building in which the
addressee ordinarily resides or carries on business or personally works for
gain;
(2) Words and expressions used
and not defined in these rules but defined in the Code shall have the meanings
respectively assigned to them in the Code.
Rule - 4. Relatives.
For the purposes of clause
(ii) of Explanation to sub-section (2) of section 79, the manner of relationship
shall mean the manner as provided in the Explanation to clause (24A) of section
5.
Rule - 5. Excluded assets.
For the purposes of sub-section
(14) of section 79,
(a) the value of unencumbered
personal ornaments under clause (c) of the said sub-section shall not exceed
one lakh rupees;
(b) the value of unencumbered
single dwelling unit owned by the debtor under clause (e) of the said
sub-section shall not exceed,
(i) in the case of dwelling
unit in an urban area, twenty lakh rupees;
(ii) in the case of dwelling unit
in rural area, ten lakh rupees.
Explanation. For the purposes of this
rule,
(a) “rural area” shall have the
same meaning as assigned to it in clause (o) of section 2 of the National Rural
Employment Guarantee Act, 2005 (42 of 2005);
(b) “urban area” means any area
other than rural area.
Rule - 6. Application by guarantor.
(1) The application under
sub-section (1) of section 94 shall be submitted in Form A, along with an
application fee of two thousand rupees.
(2) The guarantor shall serve
forthwith a copy of the application referred to in sub-rule (1) to every
financial creditor and the corporate debtor for whom the guarantor is a
personal guarantor.
Rule - 7. Application by creditor.
(1) A demand notice under
clause (b) of sub-section (4) of section 95 shall be served on the guarantor
demanding payment of the amount of default, in Form B.
(2) The application under
sub-section (1) of section 95 shall be submitted in Form C, along with a fee of
two thousand rupees.
(3) The creditor shall serve
forthwith a copy of the application referred to in sub-rule (2) to the
guarantor and the corporate debtor for whom the guarantor is a personal
guarantor.
(4) In case of a joint
application, the creditors may nominate one amongst themselves to act on behalf
of all the creditors.
Rule - 8. Confirmation or nomination of insolvency professional.
(1) For the purposes of
sub-section (2) of section 97 and sub-section (5) of section 98, the Board may
share the database of the insolvency professionals, including information about
disciplinary proceedings against them, with the Adjudicating Authority from
time to time.
(2) For the purposes of
sub-section (4) of section 97 and sub-section (3) of section 98, the Board may
share a panel of insolvency professionals, who may be appointed as resolution professionals,
with the Adjudicating Authority.
Rule - 9. Copy of application.
The applicant shall provide
a copy of the application filed under subsection (1) of section 94 or
sub-section (1) of section 95, as the case may be, if not provided earlier, to the
resolution professional within three days of his appointment under sub-section
(5) of section 97, and to the Board for its record.
Rule - 10. Filing of application and documents.
(1) Till such time, rules of
procedure for conduct of proceedings under the Code are notified, the
applications under rules 6 and 7 shall be filed and dealt with by the
Adjudicating Authority in accordance with.
(a) rules 20, 21, 22, 23, 24
and 26 of Part III of the National Company Law Tribunal Rules, 2016 made under
section 469 of the Companies Act, 2013 (18 of 2013); or
(b) rule 3 of the Debt Recovery
Tribunal (Procedure) Rules, 1993 made under section 36 of the Recovery of Debts
and Bankruptcy Act, 1993 (51 of 1993) and regulations 3, 4, 5 and 11 of the
Debt Recovery Tribunal Regulations, 2015 made under section 22 of the Recovery
of Debts and Bankruptcy Act, 1993, as the case may be.
(2) The application and
accompanying documents shall be filed in electronic form, as and when such
facility is made available and as directed by the Adjudicating Authority:
Provided that till such
facility is made available, the applicant may submit accompanying documents,
and wherever they are bulky, in electronic form, in scanned, legible portable
document format in a data storage device such as compact disc or a USB flash
drive acceptable to the Adjudicating Authority.
Rule - 11. Withdrawal of application.
(1) The Adjudicating Authority
may permit withdrawal of the application submitted under rule 6 or rule 7, as
the case may be,
(a) before its admission, on a request
made by the applicant;
(b) after its admission, on the
request made by the applicant, if ninety per cent. of the creditors agree to
such withdrawal.
(2) An application for
withdrawal under clause (b) of sub-rule (1) shall be in Form D.
FORM
A
[See rule 6(1)]
APPLICATION
BY GUARANTOR TO INITIATE INSOLVENCY RESOLUTION PROCESS
[Under rule 6 of the Insolvency and Bankruptcy
(Application to Adjudicating Authority for Insolvency Resolution Process for Personal
Guarantors to Corporate Debtors) Rules, 2019]
[Date]
To
The Adjudicating Authority
[Address]
From
[Name and address of the guarantor]
In the matter of [name of the guarantor]
Subject: Application to
initiate insolvency resolution process in respect of [name of the guarantor].
Madam/Sir,
I/We hereby submit this
application to initiate an insolvency resolution process in respect of [name of guarantor]. The details for
the purpose of this application are set out below.
Part-I
|
PARTICULARS OF THE GUARANTOR
|
|
1.
|
Title and full name
|
|
|
2.
|
Date of birth and e-mail address
|
|
|
3.
|
Any other name, if any, by which the guarantor is
or has been known
|
|
|
4.
|
Address:
(i)
Present
(ii)
Permanent
(iii)
Business
|
|
|
5.
|
Occupation/Business/Profession
|
|
|
6.
|
Annual income in the preceding financial year (in
Rs.)
|
|
|
7.
|
List of associates of the guarantor, including
relatives, who are its creditors
|
Name
|
Age
|
Address
|
|
|
|
|
|
8.
|
Bank account details (Joint and Several)
|
Account number
|
IFSC code
|
Name of Bank and Branch address
|
|
|
|
|
|
9.
|
Identification number
|
Aadhaar number
|
Passport number
|
PAN
|
GSTIN
|
|
|
|
|
|
|
10.
|
Contact No.(s)
|
Home
|
Mobile
|
Business
|
|
|
|
|
|
11.
|
List of assets of guarantor and
immediate family as on the application date.
Note: This will
include all assets of guarantor, irrespective of them being excluded assets.
Please mention which assets may be excluded assets.
|
Immovable
|
Description
|
Estimated value
|
Excluded asset or not
|
|
|
|
|
|
|
Movable
|
Description
|
Estimated value
|
Excluded asset or not
|
|
Vehicles
|
|
|
|
|
Shares in listed companies
|
|
|
|
|
Shares in other companies
|
|
|
|
|
Life insurance policy
|
|
|
|
|
Jewellery
|
|
|
|
|
Pension policy
|
|
|
|
|
Investment in mutual funds
|
|
|
|
|
|
Investment in other funds
|
|
|
|
|
Investment in partnerships and other business
concerns
|
|
|
|
|
Any other movable property
|
|
|
|
|
12
|
Number of directorships held in the last three
preceding years (along with name of company in which directorship is held)
and CIN of such companies
|
|
|
13
|
Marital status (single, married, divorced,
widowed, cohabiting, separated, or specify if any other)
|
|
|
14
|
Details regarding guarantee(s) given by guarantor
(in addition to information in serial numbers 1-13 of this part)—
|
|
Name of corporate debtor for which guarantee is
given
|
|
|
Any current or past position held in the
corporate debtor
|
|
|
Identification number of corporate debtor
|
|
|
Whether corporate debtor is an associate
|
|
|
Any securities held in corporate debtor for whom
guarantee is given
|
|
|
Whether the guarantee has been invoked and proof
thereof.
|
|
|
15
|
Where the guarantor is not a resident in India,
the name and address of the person authorised to accept the service of
process on guarantor's behalf, along with the authority letter.
|
|
Part
- II
[Please
complete this part if you have been self-employed, or a partner in a firm. If
not, go to part III]
|
BUSINESS PARTICULARS OF GUARANTOR
|
|
1.
|
Name of business and form of business
|
|
|
2.
|
Details of registration, if any
|
|
|
3.
|
Description of business
|
|
|
4.
|
Business address
|
|
|
5.
|
Annual income of guarantor
|
|
|
6.
|
If business organisation is a firm, mention the
details below.
|
|
|
(i)
|
Date of joining firm
|
|
|
(ii)
|
Capital subscription as per latest balance sheet
|
|
|
(iii)
|
Profit sharing as per latest balance sheet
|
|
|
(iv)
|
Name, address and authority of person submitting application
on behalf of the firm
|
|
Part
- III
|
PARTICULARS OF DEBT [CREDITOR WISE, AS
APPLICABLE]
|
|
1
|
Name(s) of creditor(s)
|
|
|
2
|
Address
|
Present
|
Permanent
|
Business
|
|
|
|
|
|
3
|
Total debt (including any interest or penalties)
|
|
|
4
|
Amount of debt in default
|
|
|
5
|
Interest or penalties, if any
|
|
|
6
|
Date when the debt was due
|
|
|
7
|
Date when the default occurred
|
|
|
8
|
Nature of the debt
|
|
|
9
|
Name, address and other particulars of corporate
debtor
|
|
|
10
|
Secured debt including particulars of security
held, the date of its creation, estimated value of security as per the
creditor and details of security
|
|
|
11
|
Unsecured debt
|
|
|
12
|
Details of retention of title arrangements (if
any) in respect of goods to which the debt refers
|
|
|
13
|
Record of default with the information utility,
if any
|
|
|
14
|
List of documents attached to this application in
order to prove the existence of debt and the amount in default
|
|
|
15
|
Statement by guarantor in respect of excluded
debts
|
I [guarantor] hereby
state that the debt(s) for which the insolvency resolution process
application is filed does not include any—
(i)
liability to pay fine imposed by a court or tribunal;
(ii)
liability to pay damages for negligence, nuisance or breach of a statutory,
contractual or other legal obligation;
(iii)
liability to pay maintenance to any person under any law for the time being
in force;
(iv)
liability in relation to a student loan;
(v)
any other debt prescribed under section 79(15)(e) of the Code.
|
Part
IV
|
PARTICULARS OF & DECLARATION BY RESOLUTION
PROFESSIONAL (IF APPLICATION FILED THROUGH RESOLUTION PROFESSIONAL)
|
|
1
|
Title and full name
|
|
|
2
|
Address
|
Present
|
Permanent
|
Business
|
|
|
|
|
|
3
|
E-mail address(es)
|
|
|
4.
|
Contact number
|
Home
|
Mobile
|
Business
|
|
|
|
|
|
5.
|
Declaration by resolution professional
|
I, [name
of insolvency professional], an insolvency professional enrolled with
[name of insolvency professional
agency] having registration number [registration number] have been proposed as the resolution professional
by [name of applicant guarantor]
in connection with the proposed insolvency resolution process of [name of the guarantor].
I hereby:
(i)
agree to accept appointment as the resolution professional if an order of
appointment is passed by the Adjudicating Authority;
(ii)
state that the registration number allotted to me by the Board is [insert registration number] and
that I am currently qualified to practice as an insolvency professional;
(iii)
disclose that I am currently serving as an insolvency professional/resolution
professional/liquidator/bankruptcy trustee in [insert number and details of the proceedings];
(iv)
certify that there are no disciplinary proceedings pending against me with
the Board or [name of the insolvency
professional agency he is a member of];
(v)
affirm that I am eligible to be appointed as a resolution professional in
respect of the guarantor in accordance with the Insolvency and Bankruptcy
Board of India (Insolvency Resolution Process for Personal Guarantors to
Corporate Debtors) Regulations, 2019;
(vi)
make the following disclosures in accordance with the code of conduct for
insolvency professionals as set out in the Insolvency and Bankruptcy Board of
India (Insolvency Professionals) Regulations, 2016 [insert disclosures, if any].
(Signature of the insolvency professional)
(Name in block letters)
|
[Name of the guarantor] has paid the requisite fee for this
application through [state means of
payment] on [date].
Yours sincerely,
DECLARATION
|
Signature of guarantor/person authorised to act
on behalf of the guarantor [Please
enclose the authorisation document if this application is being submitted on
behalf of the guarantor]
|
|
Name in block letters
|
|
Address of person signing
|
I, [Name of applicant], currently residing at [insert address],
hereby declare and state as follows.
(1) In respect of this
application for insolvency resolution process, I have relied on the documents
specified below: [Please list the
documents relied on].
(2) The contents of the said
application along with the said documents are true, valid and genuine to the
best of my knowledge, information and belief and nothing material facts have
been concealed therefrom.
Date:
Place:
(Signature of the
applicant)
VERIFICATION
I, [name of applicant], do hereby verify that the contents of this
application are true and correct to my knowledge and belief. Nothing is false
and no material has been concealed therefrom.
Verified at _______ on this
____ day of _______ 201__
________
(Signature of the
Applicant)
ATTACHMENTS: List of
documents to be appended to the application:
(1) All documents mentioned in
serial number 14 of Part III of this form.
(2) Copy of the income tax
returns with detailed computation of the income of the guarantor, or the firm,
as the case may be, for the previous three years.
(3) Copy of the personal
guarantee contract.
(4) Copies of entries in a
bankers' book in accordance with the Bankers Books Evidence Act, 1891 (18 of
1891)
(5) The latest and complete
copy of the financial contract reflecting all amendments and waivers to date.
(6) Copies of relevant
ownership and title documents for all assets.
(7) Copy of the authorisation,
wherever required under this form.
(8) Proof that the application
fee has been paid.
(9) Documentary evidence of all
information sought in each entry for each Part of the form.
(10) A statement of affairs of
the guarantor made up to a date not earlier than seven days from the date of
the application including the following information and supporting documents,
namely.
(i) guarantor's assets
(inclusive of assets which may be excluded assets) and liabilities for the
previous three years;
(ii) secured and unsecured debts
(inclusive of excluded debts mentioned in serial number 15 of Part III of the
form) with names of the creditors, and all requisite details for the previous
three years;
(iii) particulars of debt owed by
guarantor to associates of the corporate debtor for the previous three years;
(iv) guarantees given in
relation to any of the debts of the corporate debtor, and if any of the
guarantors is an associate of the corporate debtor;
(v) financial statements with
all annexures and schedules for the business owned by the guarantor, or of the
firm in which the guarantor is a partner, as the case may be, for the previous
three years, if applicable;
(vi) wealth tax statements, if
any, filed by the guarantor, for the previous five years;
(vii) income statement of the
guarantor, for the previous three years;
(viii) payment of indirect taxes
including GST for the previous three years.
FORM
B
[See rule 7(1)]
FORM
OF DEMAND NOTICE
[Under rule 7(1) of the Insolvency and
Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution
Process of Personal Guarantors to Corporate Debtors) Rules, 2019]
[Date]
To
[Name and address of the guarantor]
From
[Name and address of the creditor]
Subject: Demand notice in
respect of unpaid debt in default due from [corporate debtor] under the Code.
Madam/Sir,
(1) This letter is a demand
notice of unpaid debt in default due from [name of corporate debtor].
(2) Please find particulars of
the unpaid debt in default below:
|
PARTICULARS OF DEBT
|
|
1
|
Total outstanding debt (including any interest or
penalties)
|
|
|
2
|
Amount of debt in default
|
|
|
3
|
Date when the debt was due
|
|
|
4
|
Date when the default occurred
|
|
|
5
|
Nature of the debt
|
|
|
6
|
Secured debt including particulars of security
held, the date of its creation, its estimated value as per the creditor (as
applicable), and details of securities
|
|
|
7
|
Unsecured debt (as applicable)
|
|
|
8
|
Details of retention of title arrangements (if
any) in respect of goods to which the debt refers (attach a copy)
|
|
|
9
|
Particulars of an order of a court, tribunal or
arbitral panel adjudicating on the default, if any (attach a copy of the
order)
|
|
|
10
|
Record of default with the information utility,
if any (attach a copy)
|
|
|
11
|
Details of succession certificate, or probate of
a WILL, or letter of administration, or court decree (as may be applicable),
under the Indian Succession Act, 1925 (10 of 1925) (attach a copy)
|
|
|
12
|
Provision of law, contract or other document
under which debt has become due (attach a copy)
|
|
|
13
|
A statement of bank account where deposits are
made or credits received normally by the creditor in respect of the debt of
the corporate debtor, from the date on which the debt was incurred
|
|
|
14
|
List of documents attached to this notice in
order to prove the existence of debt and the amount in default
|
|
(3) If you believe that the
debt has been repaid before the receipt of this notice, please demonstrate such
repayment by sending to us, within fourteen days of receipt of this notice, the
following.
(a) an attested copy of the
record of electronic transfer of the unpaid amount from the bank account of the
guarantor; or
(b) evidence of encashment of
cheque for the unpaid amount issued by the guarantor; or
(c) an attested copy of any
record that [name of the creditor]
has received the payment.
(4) The undersigned request you
to unconditionally pay the unpaid debt in default in full within fourteen days
from the receipt of this letter failing which insolvency resolution process,
under the Code, shall be initiated against you
Yours sincerely,
|
Signature of creditor/person authorised to act on
behalf of the creditor [Please
enclose the authorisation document if this notice is being issued on behalf
of the creditor]
|
|
Name in block letters
|
|
Address of person signing
|
Instructions
(1) Please serve a copy of this
notice on the guarantor, fourteen days in advance of filing an application
under section 95 of the Code.
(2) Please attach a copy of
such served notice with the application made by the creditor to the
Adjudicating Authority.
FORM
C
[See rule 7(2)]
APPLICATION
BY CREDITOR TO INITIATE INSOLVENCY RESOLUTION PROCESS
[Under rule 7(2) of the Insolvency and
Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution
Process for Personal Guarantors to Corporate Debtors) Rules, 2019]
[Date]
To
The Adjudicating Authority
[Address]
From
[Name and address of the creditor]
In the matter of [name of the guarantor]
Subject: Application to
initiate insolvency resolution process in respect of [name of the guarantor] under the Code.
Madam/Sir,
[Name of the creditor], hereby submits this application to
initiate an insolvency resolution process in the case of [name of guarantor].
The details for the purpose
of this application are set out below:
Part
- I
|
PARTICULARS OF APPLICANT
|
|
1.
|
Title and full name
|
|
|
2.
|
Date of birth and e-mail address
|
|
|
3.
|
Contact number(s)
|
Home
|
Mobile
|
Business
|
|
|
|
|
|
4.
|
Identification number
|
Aadhaar number
|
CIN
|
PAN
|
GSTIN
|
|
|
|
|
|
|
5.
|
Address
|
Present
|
Permanent
|
Business
|
|
|
|
|
|
|
6.
|
Bank Account details (Joint and Several)
|
Account number
|
IFSC Code
|
Name of the Bank and Branch Address
|
|
|
|
|
Part
- II
|
PARTICULARS OF THE GUARANTOR
|
|
1.
|
Title and full name
|
|
|
2.
|
Date of birth and e-mail address (to the extent
known)
|
|
|
3.
|
Any other name by which the guarantor is or has
been known (as applicable) (to the extent known)
|
|
|
4.
|
Address
|
Present
|
Permanent
|
Business
|
|
|
|
|
|
5.
|
Occupation/Business/Profession
|
|
|
6.
|
Annual income (to the extent known)
|
|
|
7.
|
List of associates of the guarantor, including
relatives, who may be creditors (to the extent known)
|
Name
|
Age
|
Address
|
|
|
|
|
|
8.
|
Bank account details (Joint and Several)
|
Account number
|
IFSC Code
|
Name of the bank and Branch address
|
|
|
|
|
|
9.
|
Identification number
|
Aadhaar number
|
Passport number
|
PAN
|
GSTIN
|
|
|
|
|
|
|
10.
|
Contact number(s)
|
Home
|
Mobile
|
Business
|
|
|
|
|
|
11.
|
List of assets of guarantor as on the
application date (to the extent known)
Note: this will include all assets of
guarantor, irrespective of them being excluded assets.
|
Immovable
|
Description
|
Estimated value
|
Excluded asset or not
|
|
|
|
|
|
|
Movable
|
Description
|
Estimated value
|
Excluded asset or not
|
|
Vehicles
|
|
|
|
|
Shares in listed companies
|
|
|
|
|
|
Shares in other companies
|
|
|
|
|
Life insurance policy
|
|
|
|
|
Jewellery
|
|
|
|
|
Pension policy
|
|
|
|
|
Investment in mutual funds
|
|
|
|
|
Investment in other funds
|
|
|
|
|
Investment in partnerships and other business
concerns
|
|
|
|
|
Any other movable property
|
|
|
|
|
12.
|
Number of directorships held in the preceding
three years (along with name of company in which directorship is held) and
CIN of such companies
|
|
|
13.
|
Marital status (single, married, divorced,
widowed, co-habiting, separated, or specify any other) (to the extent known)
|
|
|
14.
|
Details regarding personal guarantor (in addition
to information in serial numbers 1-13 of this part)—
|
|
Name of corporate debtor for which guarantee is
given
|
|
|
Any current or past position held in the
corporate debtor (to the extent known)
|
|
|
Identification number of the corporate debtor
|
|
|
Whether corporate debtor is an associate (to the
extent known)
|
|
|
Any securities held in corporate debtor for whom
guarantee is given
|
|
|
15.
|
Where the guarantor is not resident in India, the
name and address of person resident in India authorised to accept the service
of process on guarantor's behalf
|
|
|
|
|
Part-III
|
PARTICULARS OF DEBT
|
|
1.
|
Total debt (including any interest or penalties)
|
|
|
2.
|
Amount in default
|
|
|
3.
|
Date on which debt was due
|
|
|
4.
|
Date on which default occurred
|
|
|
5.
|
Nature of the debt
|
|
|
5.
|
Secured debt including particulars of security
held, the date of its creation, its estimated value as per the creditor (as
applicable)
|
|
|
6.
|
Unsecured debt (as applicable)
|
|
7.
|
Details of retention of title arrangements (if
any) in respect of goods to which the debt refers (attach a copy)
|
|
|
8.
|
Details of any mutual credit, mutual debts, or
other mutual dealings between the guarantor and the creditor, which may be
set-off against the claim (attach proof)
|
|
|
9.
|
Particulars of an order of a court, tribunal or
arbitral panel adjudicating on the default, if any (attach a copy of the
order)
|
|
|
10.
|
Record of default with the information utility,
if any (attach a copy)
|
|
|
11.
|
Details of succession certificate, or probate of
a will, or letter of administration, or court decree (as may be applicable),
under the Indian Succession Act, 1925 (10 of 1925) (attach a copy)
|
|
|
12.
|
Provision of law, contract or other document
under which debt has become due (attach a copy)
|
|
|
13.
|
A statement of bank account where deposits are
made or credits received normally by the creditor in respect of the debt of
the corporate debtor, from the date on which the debt was incurred (attach a
copy)
|
|
|
14.
|
List of documents attached to this application in
order to prove the existence of debt and the amount in default
|
|
|
15.
|
Statement by creditor in respect of excluded
debts
|
I [creditor] hereby
state that the debt(s) for which the insolvency resolution process
application is filed does not include any—
(i)
liability to pay fine imposed by a court or tribunal;
(ii)
liability to pay damages for negligence, nuisance or breach of a statutory,
contractual or other legal obligation;
(iii)
liability to pay maintenance to any personb under any law for the time being
in force;
(iv)
liability in relation to a student loan;
|
|
16.
|
|
(v)
any other debt prescribed under section 79(15)(e) of the Code.
|
|
17.
|
If you are a secured creditor, tick the applicable
box in the right column relating to forfeiture of right to enforce security
during the period of the repayment plan, which will determine the voting
share as per section 110 of the Code
|
□ I agree to forfeit my right to
enforce my security [insert
description] during the period of the repayment plan.
|
|
□ I do not agree to forfeit my right to enforce
my security [insert
description] during the period of the repayment plan.
|
Part-IV
|
PARTICULARS OF & DECLARATION BY INSOLVENCY
PROFESSIONAL (IF APPLICATION FILED THROUGH INSOLVENCY PROFESSIONAL)
|
|
1.
|
Title and full name
|
|
|
2.
|
Address
|
Present
|
Permanent
|
Business
|
|
|
|
|
|
3.
|
E-mail address(es)
|
|
|
4.
|
Contact number
|
Home
|
Mobile
|
Business
|
|
|
|
|
|
5.
|
Declaration by insolvency professional
|
I, [name
of insolvency professional], an insolvency professional enrolled with
[name of insolvency professional
agency] having registration number [registration number.] have been proposed as the resolution
professional by [name of applicant
guarantor] in connection with the proposed insolvency resolution
process of [name of the guarantor].
I hereby:
(i)
agree to accept appointment as the resolution professional if an order of
appointment is passed by the Adjudicating Authority;
(ii)
state that the registration number allotted to me by the Board is [insert registration number] and
that I am currently qualified to practice as an insolvency professional;
(iii)
disclose that I am currently serving as an interim resolution
professional/resolution professional/authorized representative/liquidator/bankruptcy
trustee in [insert number and
details of the proceedings];
(iv)
certify that there are no disciplinary proceedings pending against me with
the Board or [name of the insolvency
professional agency he is a member of];
(v)
affirm that I am eligible to be appointed as a resolution professional in
respect of the guarantor in accordance with the Insolvency and Bankruptcy
Board of India (Insolvency Resolution Process for Personal Guarantors to
Corporate Debtors) Regulations, 2019;
(vi)
make the following disclosures in accordance with the code of conduct for
insolvency professionals as set out in the Insolvency and Bankruptcy Board of
India (Insolvency Professionals) Regulations, 2016 [insert disclosures, if any].
(Signature of the insolvency professional)
|
[Name of the creditor] has paid the requisite fee for this
application through [state means of
payment] on [date].
Yours sincerely,
|
Signature of creditor/person authorised to act on
behalf of the creditor [Please
enclose the authorisation document if this application is being submitted on
behalf of the creditor]
|
|
Name in block letters
|
|
Address of person signing
|
List of documents to be
attached to the application:
(1) All documents mentioned in
serial number. 15 of Part III of this form.
(2) Copy of the demand notice
served on the guarantor in Form B.
(3) Copy of the income tax
returns with detailed computation of the income of the guarantor, or the firm,
as the case may be, for the previous three years, if available.
(4) Copy of the personal
guarantee contract.
(5) Copy of the authorisation,
wherever required under this form.
(6) Proof that the application
fee has been paid.
(7) Documents evidencing the
debt and the default in relation to the debt, as may have been provided by the
guarantor at any point in time, if available.
(8) Documents evidencing the
assets, liabilities, income and any other relevant information as may have been
provided by the guarantor at any point in time, if available.
(9) Documentary evidence of all
information sought in each entry for each Part of the form.
Form
D
[See rule 11(2)]
APPLICATION
FOR WITHDRAWAL OF INSOLVENCY RESOLUTION PROCESS
[Under
rule 11(2) of the Insolvency and Bankruptcy (Application to Adjudicating
Authority for Insolvency Resolution Process for Personal Guarantors) Rules,
2019]
[Date]
To
The Adjudicating Authority
[Address]
From
[Name and address of applicant]
In the matter of [name of guarantor]
Subject: Withdrawal of
application for insolvency resolution process of [name of guarantor] admitted on …….
(1) [Name of applicant], had filed an application bearing [particulars of application, i.e, diary
number/case number] on [date of
filing] before the Adjudicating Authority under [Section 94/Section 95] of the Code. The said application was
admitted by the Adjudicating Authority on [date] bearing [case
number].
(2) I hereby withdraw the
application bearing [particulars of
application i.e, diary number/case number] filed by [name of applicant] before the
Adjudicating Authority under [Section
94/Section 95] of the Code.
(3) The creditor(s) have
approved the request for withdrawal of the application under rule 11.
(4) I have been authorised by
the applicant to file this application of withdrawal with the Adjudicating
Authority.(strike out if not
applicable)
(5) The required bank guarantee
towards estimated cost incurred in the process by the resolution professional
is attached.
(Signature of the applicant
or person authorised by the applicant)
Date:
Place: