NCLT Ahmedabad Division Bench dismissed an application under Section 94 of the IBC filed by a personal guarantor. The court held the petition defective due to absence of mandatory declarations under Sections 94(4) and 94(5) and prior rejected applications.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE NATIONAL COMPANY LAW TRIBUNAL AHMEDABAD DIVISION BENCH COURT - I
ITEM No.5 CP(IB)/81(AHM)2024
Proceedings under Section 94 IBC
IN THE MATTER OF:
Sita Sajandas Chawla Vs Punjab National Bank
........Applicant
........Respondent
Order delivered on 16/02/2024
Coram:
Mr. Shammi Khan, Hon’ble Member(J) Mr. Sameer Kakar, Hon,ble Member(T)
PRESENT:
For the Applicant :Ms. Yashree Kaushalkumar Dixit, PCS a. w. Ms. Noopur Dalal, Adv. For the PNB :Mr. Jaimin R Dave, Adv.
ORDER
This is an application filed under Section 94 of the IB Code, 2016 seeking by the Applicant/personal guarantor for initiation of Insolvency Resolution Process. On perusal of the application, it is seen that there is no declaration in terms of Section 94 (4) & (5) of the IBC, 2016.
Further, it has been apprised by the learned counsel for the Respondent/PNB Bank that in the past, two petitions were filed by the same Applicant Guarantor on two different dates. First was filed on 02.02.2023 bearing e-filing no. 2401105002572023 which was declined to be registered on 18.09.2023 and second was filed on 27.10.2023 bearing e-filing no. 2401105019492023 and was declined to be registered on 07.12.2023 by the Joint Registrar of this Tribunal in terms of Rule 28 of the NCLT Rules, 2016.
The memorandum of appearance filed along with this application is by one Ms. Yashree Kaushalkumar Dixit, the same is not properly stamped.
In view of the above, CP(IB)/81(AHM)2024 is incomplete and defective. Hence, this petition stands dismissed.
A copy of this order be sent by the Applicant to the Financial Creditor by RPAD / Speed Post within 7 days from the date of this order.
-Sd- -Sd-
SAMEER KAKAR SHAMMI KHAN MEMBER (TECHNICAL) MEMBER (JUDICIAL)
Swetambary
2 issues framed by the court
Whether an application under Section 94 of the IBC filed by a personal guarantor without requisite declarations and containing incomplete documentation is maintainable.
Whether multiplicity of defaulting applications for the same guarantor precludes registration of a fresh application.
3 provisions across 2 enactments
Sita Sajandas Chawla
Punjab National Bank
Shammi Khan
Sameer Kakar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
