# In the matter of Anu Gupta.

> NCLT judgment dated 2023-12-12. Citation: TCN-2023-NCLT-00278. The case pertains to an application filed under Section 94(1) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 12 Dec 2023
- **Citation:** TCN-2023-NCLT-00278
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/anu-gupta-0bee3ae5

## Summary

### Background

The case pertains to an application filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution process for Personal Guarantors to Corporate Debtor) Rules, 2019, and regulation 4(2) of IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. The application was filed by Ms. Anu Gupta, the Personal Guarantor of M/s MSGI Metatrae Private Limited (Corporate Debtor), seeking initiation of the Insolvency Resolution Process.

## Facts

Ms. Anu Gupta, acting as the Personal Guarantor for M/s MSGI Metatrae Private Limited (Corporate Debtor), filed an application under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process against herself. The application was filed in accordance with the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution process for Personal Guarantors to Corporate Debtor) Rules, 2019, and IBBI regulations. The applicant has served a copy of the application to the Financial Creditor and the Corporate Debtor. Mr. Manoj Kumar Anand was proposed as the Resolution Professional. The authorization for assignment is valid until 2024-11-21.

## Issues and analysis

### Issue 1: Whether the application filed by the Personal Guarantor under Section 94(1) of the Insolvency and …

**Ratio:** Section 94(1) of the Insolvency and Bankruptcy Code, 2016, allows a debtor to apply for

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**Reasoning:** The court observed that the applicant has filed the present petition seeking insolvency

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**Interpretation:** Section 94(1) provides the legal basis for a debtor, including a personal

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**Application:** The court acknowledged the application filed by Ms. Anu Gupta, the Personal

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; RAHUL BHA…
- **Appellants:** Anu G…
- **Respondents:** M/s MSGI Metatrae…

## Timeline

- **2023-12-12 — Order Del…**: Order delivered appointing Mr. Manoj…
- **2024-02-08 — Next Hearin…**: Matter listed for perusal of the Report…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 94(1) — Application by debtor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-94)

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