# In the matter of Hemant Goyal

> NCLT judgment dated 2024-02-12. Citation: TCN-2024-NCLT-02628. The case originates from an application filed under Section 94(1) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 12 Feb 2024
- **Citation:** TCN-2024-NCLT-02628
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/hemant-goyal-1ce7a783

## Summary

### Background

The case originates from an application filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, by Mr. Hemant Goyal, the personal guarantor of M/s Sangrur Autos Private Limited, seeking initiation of the insolvency resolution process. The application was filed before the National Company Law Tribunal (NCLT), New Delhi, Bench VI. The applicant has already served a copy of the application to the Financial Creditor and the Corporate Debtor (Principal Borrower).

## Facts

Mr. Hemant Goyal, acting as the personal guarantor for M/s Sangrur Autos Private Limited (the 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 filed with the NCLT, New Delhi. A copy of the application was served to the Financial Creditor and the Corporate Debtor. The applicant proposed the name of Mr. Ashok Malik as the Resolution Professional. The NCLT considered the Supreme Court's judgment in Dilip B Jiwrajka vs Union of India & Ors. regarding the constitutional validity of Sections 95-100 of the IBC and the absence of judicial adjudication at the initial stages. The relevance of these facts lies in establishing the grounds for

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## 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 considered the Supreme Court's judgment in Dilip B Jiwrajka vs Union of India

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

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**Application:** Mr. Hemant Goyal, as the personal guarantor, is eligible to file an application

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; RAHUL BHA…
- **Appellants:** HEMANT…
- **Respondents:** M/s Sangrur Autos…

## Timeline

- **2024-02-12 — Date of Prono…**: The order was…
- **2024-03-20 — Matter L…**: The matter is listed on 20/03/2024 for the perusal of the Report of the RP and further…

## 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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