# In the matter of Manoj Kumar Mathur & Smita Mathur vs. Mohit Singh

> NCLT judgment dated 2024-01-25. Citation: TCN-2024-NCLT-02896. The application was filed under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016…

- **Court:** NCLT
- **Order date:** 25 Jan 2024
- **Citation:** TCN-2024-NCLT-02896
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/manoj-kumar-mathur-smita-mathur-vs-mohit-singh-ae21a4be

## Summary

### Background

The application was filed under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016 read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. The applicants, Manoj Kumar Mathur & Anr., are the Financial Creditors. The application is against Mr. Mohit Singh, the Personal Guarantor to M/s. Shipra Estate Limited (‘Corporate Debtor'). The applicants seek to initiate the Insolvency Resolution (IR) process and pass consequent orders.

## Facts

Manoj Kumar Mathur & Anr. ('Financial Creditors') filed an application under Section 95(1) of the IBC, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, against Mr. Mohit Singh, who is the Personal Guarantor to M/s. Shipra Estate Limited ('Corporate Debtor'). The application seeks to initiate the Insolvency Resolution (IR) process. A demand notice dated 2023-02-13 was issued to the personal guarantor under Section 95(4)(b) of the IBC, demanding payment of the default amount. Upon filing the application, an interim moratorium under Section 96(1)(a) of the IBC commenced. The court appointed Mr. Gaurav Katiyar as the Resolution

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## Issues and analysis

### Issue 1: Whether the application under Section 95(1) of the IBC, 2016, for initiating the Insolvency …

**Ratio:** Section 95(1) of the IBC, 2016, read with Rule 7 of the Insolvency and Bankruptcy

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**Reasoning:** The court considered the legislative intent behind Section 95(1) of the IBC and Rule 7,

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**Interpretation:** Section 95(1) and Rule 7 are interpreted to mean that an application can be

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**Application:** The court applied the ratio to the facts of the case, noting that the

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## Parties

- **Judges:** MANNI SANKARIAH…; Sanjeev R…
- **Appellants:** Manoj Kumar…
- **Respondents:** M/s. Shipra…; Mohit S…

## Timeline

- **2023-02-13 — Demand Noti…**: Demand Notice issued to Mr. Mohit Singh under…
- **N/A — Application…**: Filing of application under…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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