Form OF

[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.