# In the matter of Mohan Sajandas Chawla vs. Punjab National Bank

> NCLT judgment dated 2024-02-27. Citation: TCN-2024-NCLT-02378. The case involves an application filed by Mohan Sajandas Chawla under Section 94(1) of the…

- **Court:** NCLT
- **Order date:** 27 Feb 2024
- **Citation:** TCN-2024-NCLT-02378
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mohan-sajandas-chawla-vs-punjab-national-bank-ad320752

## Summary

### Background

The case involves an application filed by Mohan Sajandas Chawla under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, seeking to initiate insolvency proceedings as a personal guarantor. The applicant had previously filed a similar application, CP(IB)/79(AHM)2024, which was dismissed due to being incomplete and defective. The current application is the fourth attempt by the applicant to initiate proceedings before the Tribunal.

## Facts

Mohan Sajandas Chawla, residing at G/14, Galaxy Tower, Behind Grand Bhagwati, Bodakdev, Ahmedabad-380054, filed an application under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, to initiate insolvency proceedings as a personal guarantor. Punjab National Bank is the respondent in the case. The applicant had previously filed a similar application, CP(IB)/79(AHM)2024, which was dismissed on 16.02.2024 for being incomplete and defective due to a lack of declaration in terms of Section 94 (4) & (5) of the IBC, 2016. The applicant had also filed two prior petitions that were declined registration. The current application is the fourth attempt by the applicant. The Deed of Guarantee was not annexed to the present application.

## Issues and analysis

### Issue 1: Whether the application filed by the applicant under Section 94(1) of the Insolvency and Bankruptcy …

**Ratio:** An application under Section 94(1) of the IBC must be complete and include all necessary

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**Reasoning:** The court observed that the Deed of Guarantee was not annexed to the present application,

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**Interpretation:** Section 94(1) of the IBC requires the applicant to provide all necessary

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**Application:** In this case, the applicant failed to annex the Deed of Guarantee to the

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** Mohan Sajandas…
- **Respondents:** Punjab National…

## Timeline

- **2023-01-20 — First E-f…**: First petition filed with…
- **2023-09-18 — First E-filing…**: First petition declined…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 94 — Application by debtor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-94)

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