# In the matter of JM Financial Asset Reconstruction Co Ltd Vs. Susan Zachariah, CP (IBC)/14/KOB/2021

> NCLT judgment dated 2022-04-06. Citation: TCN-2022-NCLT-03340. The case pertains to CP(IBC)/14/KOB/2021 before the National Company Law Tribunal, Kochi Bench.…

- **Court:** NCLT
- **Order date:** 6 Apr 2022
- **Citation:** TCN-2022-NCLT-03340
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jm-financial-asset-reconstruction-co-ltd-vs-susan-zachariah-cp-038633fd

## Summary

### Background

The case pertains to CP(IBC)/14/KOB/2021 before the National Company Law Tribunal, Kochi Bench. The hearing was held on April 8, 2022. The petitioner's counsel, Shri Unnikrishnan S, appeared through video conference. During the hearing on February 24, 2022, both parties submitted that the Respondent/Personal Guarantor in the petition had expired.

## Facts

The petition CP(IBC)/14/KOB/2021 was filed before the NCLT Kochi Bench. The respondent was a personal guarantor. The personal guarantor expired. The petitioner filed an IA to implead the legal heirs of the deceased personal guarantor as respondents. The IA was dismissed on 2022-03-17. Because the personal guarantor had expired and the IA to implead the legal heirs was dismissed, the court deemed the main petition infructuous. The hearing was held on 2022-02-24, where both parties acknowledged the guarantor's death.

## Issues and analysis

### Issue 1: Whether the death of the personal guarantor, who is the respondent in the petition, renders the …

**Ratio:** A legal proceeding cannot continue against a deceased party unless their legal

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**Reasoning:** The court reasoned that since the personal guarantor had expired and the IA to implead

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**Interpretation:** This issue involves the interpretation of procedural law regarding the

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**Application:** In this specific case, the death of the personal guarantor and the subsequent

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## Parties

- **Judges:** Ashok Kumar…; Anil Ku…
- **Appellants:** JM Financial…
- **Respondents:** SUSAN ZAC…
- **Advocates:** Unnikrish…

## Timeline

- **2022-02-24 — Hearing…**: Hearing held where both parties submitted that the Respondent/Personal Guarantor in this…
- **2022-03-17 — Order Da…**: Order dated where the IA filed by the Petitioner to implead the legal heirs of the…

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