# In the matter of Anu Gupta.

> NCLT judgment dated 2023-12-12. Citation: TCN-2023-NCLT-00289. 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-00289
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/anu-gupta-0bfbc374

## Summary

### Background

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

## 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 to initiate the Insolvency Resolution Process. The application was made in accordance with the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution process for Personal Guarantors to Corporate Debtor) Rules, 2019. The applicant proposed Mr. Manoj Kumar Anand as the Resolution Professional. The court noted that the application had been served to the Financial Creditor and the Corporate Debtor. The authorization for assignment of the Resolution Professional is valid until 21.11.2024.

## 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 application was filed by the Personal Guarantor, Ms. Anu

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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 applied Section 94(1) to the facts of the case, where the applicant,

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## Parties

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

## Timeline

- **2022-01-01 — Filing of P…**: CP IB No. 476/ND/2022 is filed under section 94(1) of the Insolvency and Bankruptcy Code,…
- **2023-12-12 — Order Del…**: Order delivered appointing Mr. Manoj Kumar…

## 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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