# In the matter of Rishi Pal Ruhil, CP (IB) No. 74/ND/2022

> NCLT judgment dated 2022-02-07. Citation: TCN-2022-NCLT-04241. The case pertains to an application IB-74/ND/2022 filed under Section 94(1) of the IB Code by a…

- **Court:** NCLT
- **Order date:** 7 Feb 2022
- **Citation:** TCN-2022-NCLT-04241
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/rishi-pal-ruhil-cp-ib-no-74nd2022-008219e7

## Summary

### Background

The case pertains to an application IB-74/ND/2022 filed under Section 94(1) of the IB Code by a Personal Guarantor. Mr. Vijay Kumar Narang, holding Registration No. IBBI/IPA-001/IP-P-02064/2020-2021/13300, has been appointed as the Resolution Professional (RP). His declaration is on record.

## Facts

An application, IB-74/ND/2022, was filed by a Personal Guarantor under Section 94(1) of the IB Code. Mr. Vijay Kumar Narang, registered as IBBI/IPA-001/IP-P-02064/2020-2021/13300, was appointed as the Resolution Professional (RP). His declaration is on record. The interim-moratorium period was initiated from 19.01.12022, the date the application was filed. The case is listed for further hearing on 14.04.2022. The order was delivered on 07.02.2022.

## Issues and analysis

### Issue 1: Whether the application filed by the Personal …

**Ratio:** Section 94(1) of the IB Code allows a personal guarantor to initiate insolvency

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**Reasoning:** The order acknowledges the filing of the application under Section 94(1) of the IB Code,

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**Interpretation:** Section 94(1) provides a legal avenue for personal guarantors to seek

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**Application:** The application was filed under Section 94(1). The court's acceptance of the

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## Parties

- **Judges:** DHARMINDER…; SUMITAPURKA…
- **Appellants:** Rishi Pal…
- **Advocates:** Pulkit…; Arnav Vid…; +1 more

## Timeline

- **2022-01-19 — Interim-moratorium…**: Interim-moratorium period deemed to have been initiated from the date of filing of the…
- **2022-02-07 — Order Del…**: Order delivered on…

## 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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