# In the matter of Sumeet Juneja vs. Stressed Assets Stabilisation Fund (SASF),

> NCLAT judgment dated 2025-08-25. Citation: TCN-2025-NCLAT-00466. The appeal arises from an order by NCLT, Chandigarh, admitting an application under Section…

- **Court:** NCLAT
- **Order date:** 25 Aug 2025
- **Citation:** TCN-2025-NCLAT-00466
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sumeet-juneja-vs-stressed-assets-stabilisation-fund-bec59d35

## Summary

### Background

The appeal arises from an order by NCLT, Chandigarh, admitting an application under Section 95 of IBC, 2016 against the Appellant/Personal Guarantor, Sumeet Juneja, for M/s Krishan Engineering Works Ltd. The appellant claims he was unaware of the proceedings and that no demand notice was served.

## Facts

The NCLT admitted an application under Section 95 of IBC against Sumeet Juneja, a personal guarantor for M/s Krishan Engineering Works Ltd.

Sumeet Juneja claimed he was unaware of the proceedings and no notice was served.

The creditor, Stressed Assets Stabilisation Fund (SASF), filed the application based on a guarantee agreement dated 28.10.1994.

The borrower company defaulted, and the account was declared NPA on 31.10.1998.

SASF filed OA No. 2777 of 2017 before DRT-I, Chandigarh, which was allowed, and a recovery certificate was issued on 23.01.2019.

The NCLT appointed a Resolution Professional (RP) who attempted to serve notices and seek information from the Appellant.

SASF assigned the debt to Omkara Asset Reconstruction Private Limited on 31.08.2024.

…

## Issues and analysis

### Issue 1: Whether the Appellant was duly served with the …

**Ratio:** Service was duly affected through multiple permissible modes, including email, postal

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**Reasoning:** The Resolution Professional attempted service at the addresses and emails available on

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**Interpretation:** The court interpreted that the efforts made by the Resolution Professional to

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**Application:** The court applied this interpretation to conclude that the Appellant was aware

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## Parties

- **Judges:** N. Sesha…; Arun Ba…
- **Appellants:** Sumeet J…
- **Respondents:** Krishna Engineerin…; Stressed Assets…; +1 more
- **Advocates:** Pulkit…; Nitin Kant…; +2 more

## Timeline

- **2024-09-12 — Impugned…**: NCLT admitted the Petition and passed…
- **2024-08-31 — Assignment…**: Assignment of Debt by…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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