# In the matter of Axis Bank Ltd Vs. Manoj Jiwatram Lalwani, CP (IB)/325(MB)/2023

> NCLT judgment dated 2023-06-23. Citation: TCN-2023-NCLT-02819. This case involves a Company Petition filed by Axis Bank, the Financial Creditor, under Section…

- **Court:** NCLT
- **Order date:** 23 Jun 2023
- **Citation:** TCN-2023-NCLT-02819
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/axis-bank-ltd-vs-manoj-jiwatram-lalwani-cp-937b8fed

## Summary

### Background

This case involves a Company Petition filed by Axis Bank, the Financial Creditor, under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Mr. Manoj Jiwatram Lalwani, the Personal Guarantor. The Financial Creditor claims that the demand notice was successfully delivered to the Personal Guarantor and the Corporate Debtor. However, the Personal Guarantor refused to take delivery of the Court Notice.

## Facts

Axis Bank filed a Company Petition under Section 95 of the Insolvency & Bankruptcy Code, 2016, to initiate Personal Insolvency Resolution Process (CIRP) against Mr. Manoj Jiwatram Lalwani, the Personal Guarantor. The Financial Creditor claims that a demand notice dated 01.02.2023 was successfully delivered to the Personal Guarantor and the Corporate Debtor on 04.02.2023, and a copy of the petition was delivered via email on 12.04.2023. The Personal Guarantor refused to take delivery of the Court Notice dated 16.06.2023. The court considered this refusal as deemed service of notice.

## Issues and analysis

### Issue 1: Whether the refusal of the Personal Guarantor to take delivery of the Court Notice constitutes a …

**Ratio:** Refusal to accept a notice dispatched through proper channels (RPAD and courier)

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**Reasoning:** The bench reasoned that the Personal Guarantor's refusal to accept the Court Notice,

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**Interpretation:** The interpretation of Section 95 of the Code allows for deemed service when the

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**Application:** The court applied the principle of deemed service to the facts of the case,

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Axis Ban…
- **Respondents:** Manoj Jiwatram…
- **Advocates:** Alok D. M…

## Timeline

- **2023-02-01 — Demand Noti…**: Date of the Demand Notice…
- **2023-02-04 — Delivery of Demand…**: Demand Notice successfully delivered to the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95 — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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