The Appellant, Venkata Chalam Varanasi (Bankruptcy Trustee), initiated an application IA (IBC) No 951/2025 in CP (IB) / 246 / 95 / HDB/2021 before the Ld. Adjudicating Authority. The application sought a direction against the Respondent, Mr. Upender Kumar Agarwal, to provide a statement of his financial position as mandated by Section 129 of the Code, read with Regulation 12 of the IBBI (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. The Ld. Adjudicating Authority subsequently issued an order on 23.06.2025, directing the Respondent to provide the necessary assistance and financial statements, with a warning of appropriate action for non-compliance. Alleging non-compliance with this order, the Appellant then filed a Contempt Petition

The Appellant, Venkata Chalam Varanasi (Bankruptcy Trustee), initiated an application IA (IBC) No 951/2025 in CP (IB) / 246 / 95 / HDB/2021 before the Ld. Adjudicating Authority. The application sought a direction against the Respondent, Mr. Upender Kumar Agarwal, to provide a statement of his financial position as mandated by Section 129 of the Code, read with Regulation 12 of the IBBI (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. The Ld. Adjudicating Authority subsequently issued an order on 23.06.2025, directing the Respondent to provide the necessary assistance and financial statements, with a warning of appropriate action for non-compliance. Alleging non-compliance with this order, the Appellant then filed a Contempt Petition