9911796707
TMI Blog2024 (10) TMI 157X X X X Extracts X X X X X X X X Extracts X X X X ..... s. [ 2023 (1) TMI 253 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI ] has upheld the view taken by NCLT, Delhi dismissing an application filed by the Appellant under section 94. Therefore, by looking at the facts of the present case and the above case, the present application is filed without any cause and is premature. Petition dismissed. - MR. SHAMMI KHAN, HON BLE MEMBER(J) AND MR. SAMEER KAKAR, HON BLE MEMBER(T) For the Applicant: Mr. Rajesh Bohra, Advocate For the Respondent: Ms. Noopur Dalal, Advocate ORDER 1. This application has been filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016 by the Applicant/Personal Guarantor to initiate proceeding in terms of in terms of Rule 6 of the IB (AAA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Applicant in the capacity of Personal Guarantor to invoke the Personal Guarantee nor any steps have been taken by the Respondent Bank to recover the dues from the Applicant by sale of her personal assets. 7. The Hon ble NCLAT in its decision in the matter of Amanjyot Singh Vs. Navneet Kumar Jain Ors. (Company Appeal (AT) (Insolvency) No. 961 of 2022) has upheld the view taken by NCLT, Delhi dismissing an application filed by the Appellant under section 94. The relevant para of the said order is reproduced below:- 7. Notice under Section 13, sub-section (2) is issued by the Bank for enforcing the security interest. Section 13, sub-section (1) and (2) of the SARFAESI Act is as follows:- 13. Enforcement of security interest.--(1) Notwithstandi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n-2 (f) is wide enough to include a Guarantor also. Section 13 is for enforcement of security interest. The borrower within the meaning of Section 13, sub-section (2) shall obviously include the Guarantor also. ......... 12. We, thus, are satisfied that foundation which was laid down by the Appellant for initiating the CIRP against the Appellant, was not sufficient to admit Section 94 Application and initiate the CIRP against the Appellant. We may further notice that Section 10 Application against the Corporate Debtor has already been admitted and CIRP against the Corporate Debtor had been initiated. The case taken up by the Bank being categorical and clear that no steps have been taken by the Bank against the Appellant, there is no cause f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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