# In the matter of Vijender Antil ((PG of Jungrele Info Solutions Pvt. Ltd.) vs. Phoenix ARC Pvt. Ltd. & Ors.

> NCLAT judgment dated 2025-01-02. Citation: TCN-2025-NCLAT-00295. The appeal was filed against the order dated 10.09.2024 passed by the National Company Law…

- **Court:** NCLAT
- **Order date:** 2 Jan 2025
- **Citation:** TCN-2025-NCLAT-00295
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vijender-antil-pg-of-jungrele-info-solutions-pvt-ltd-vs-phoenix-arc-pvt-ltd-ors-0b40375f

## Summary

### Background

The appeal was filed against the order dated 10.09.2024 passed by the National Company Law Tribunal (NCLT), New Delhi Bench, Court-IV. The NCLT order allowed IA No. 6697/ND/2023 and rejected CP (IB) No. 1129 (ND)/2020 and IA No. 5335/ND/2022. The appellant stood as a personal guarantor for Jungrele Info Solutions Pvt. Ltd. (Corporate Debtor) concerning an unsecured loan of Rs. 10,00,000/- availed from Barclays Bank on 09.08.2008. The bank assigned the loan to Phoenix ARC Pvt. Ltd. on 06.11.2012.

## Facts

Vijender Antil, the appellant, acted as a personal guarantor for Jungrele Info Solutions Pvt. Ltd. (Corporate Debtor). The Corporate Debtor had availed an unsecured loan of Rs. 10,00,000/- from Barclays Bank on 09.08.2008. Barclays Bank assigned this loan to Phoenix ARC Pvt. Ltd. on 06.11.2012. Phoenix ARC Pvt. Ltd., the assignee/respondent, filed O.A. No. 36/2016 before the DRT, which fixed the Corporate Debtor's liability at Rs. 13,68,593/- with 13% interest p.a. The appellant then filed an application under Section 94 of the IBC, 2016, which was assigned CP (IB) No. 1129(ND)/2020. The Resolution Professional (RP) submitted reports indicating the debtor's inability to bear the expenses of the insolvency resolution process and the creditor's unwillingness to bear

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## Issues and analysis

### Issue 1: Whether the NCLT was correct in rejecting the application filed by the appellant under Section 94 …

**Ratio:** The Adjudicating Authority can reject an application under Section 94 and 95 of the IBC

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**Reasoning:** The Tribunal relied on the RP's report, which indicated that the appellant was not in a

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**Interpretation:** Section 94 allows an individual debtor to apply for a fresh start process.

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**Application:** In this case, the RP's report clearly stated the appellant's inability to bear

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## Parties

- **Judges:** Rakesh Kuma…; Naresh Sa…
- **Appellants:** Vijender…
- **Respondents:** Jungrele Info…; Phoenix ARC Pvt.…

## Timeline

- **2008-08-09 — Loan Ava…**: Jungrele Info Solutions Pvt. Ltd. availed an unsecured loan of Rs. 10,00,000/- from…
- **2012-11-06 — Loan Assi…**: Barclays Bank assigned the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 94 — Application by debtor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-94)

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