# In the matter of Shalini Subodh kumar Jain, (Personal Guarantor) of Eternal Motors Pvt Ltd., CP (IB) No. 170 (AHM)/2021

> NCLT judgment dated 2021-10-05. Citation: TCN-2021-NCLT-00862. This case involves an application filed by a personal guarantor, Shalini Subodh Kumar Jain,…

- **Court:** NCLT
- **Order date:** 5 Oct 2021
- **Citation:** TCN-2021-NCLT-00862
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shalini-subodh-kumar-jain-personal-guarantor-of-eternal-motors-pvt-ltd-cp-ib-no-067e1f59

## Summary

### Background

This case involves an application filed by a personal guarantor, Shalini Subodh Kumar Jain, under Section 94 of the IB Code. The application proposes a resolution professional. The order directs the registry to send a copy to IBBI and include the named person as the resolution professional for the personal guarantor, as per Section 97(3) of the IB Code.

## Facts

Shalini Subodh Kumar Jain, as a personal guarantor of Eternal Motors Pvt Ltd, filed an application under Section 94 of the IB Code. The application included the name of a proposed resolution professional, Mr. Ashish Shah. The court considered the application and issued an order to appoint Mr. Ashish Shah as the resolution professional. The order also directed the registry to send a copy to IBBI and include this person as resolution professional of the personal guarantor as per provisions of Section 97 (3) of the IB Code. The resolution professional is required to submit a report within 10 days of the communication of the order of IBBI appointing him as the resolution professional.

## Issues and analysis

### Issue 1: Whether the application filed by the personal …

**Ratio:** Section 94 of the IB Code allows a personal guarantor to file an application for

…

**Reasoning:** The court considered the application filed by the personal guarantor under Section 94 of

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**Interpretation:** Section 94 provides the legal basis for a personal guarantor to initiate

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**Application:** The application was filed by Shalini Subodh Kumar Jain, a personal guarantor,

…

## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Shalini Subodh…
- **Respondents:** Eternal Motors…
- **Advocates:** Pratik Th…

## Timeline

- **2021-10-05 — Order Del…**: Order delivered appointing a resolution…
- **2021-11-29 — Matter L…**: The matter is listed…

## 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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