# In the matter of Deepa Mukherjee

> NCLT judgment dated 2024-02-19. Citation: TCN-2024-NCLT-02527. This case involves an application filed under Section 94(1) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 19 Feb 2024
- **Citation:** TCN-2024-NCLT-02527
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/deepa-mukherjee-150ce7ec

## Summary

### Background

This case involves 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 Debtors) Rules, 2019. Ms. Deepa Mukherjee, the applicant and personal guarantor, seeks to initiate the Insolvency Resolution Process. Metriken Integrated Business Private Limited, the corporate debtor, had taken credit facilities from Indian Bank, for which Ms. Mukherjee provided a personal guarantee. The corporate debtor defaulted on the loan, leading to the present application.

## Facts

Ms. Deepa Mukherjee, residing in Kancheepuram, TN, filed an application as a personal guarantor under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process. She is the personal guarantor for credit facilities availed by Metriken Integrated Business Private Limited ('Corporate Debtor') from Indian Bank. The Corporate Debtor defaulted on a debt of Rs. 1,23,18,594/- with the date of default being 31.12.2020. A demand notice dated 25.11.2022 was issued by Indian Bank under Section 13(2) of the SARFAESI Act, 2022. Ms. Mukherjee also filed a statement of affairs as on 10.12.2023. She served copies of the application to the Financial Creditor and the Corporate Debtor. The relevance of these facts lies in establishing

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## Issues and analysis

### Issue 1: Whether the application filed by Ms. Deepa Mukherjee 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 considered the averments made in the application, including the fact that Ms.

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

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**Application:** In this case, Ms. Mukherjee, being a personal guarantor for a defaulting

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** Deepa Muk…
- **Respondents:** Metriken Integrate…

## Timeline

- **2020-12-31 — Date of D…**: The Corporate Debtor…
- **2022-11-25 — Demand N…**: Indian Bank issued a demand notice under…

## 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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