# In the matter of Sunil Kumar Agrawal vs. Navin Kumar Tayal

> NCLT judgment dated 2024-08-01. Citation: TCN-2024-NCLT-00897. The case involves two applications, IA/730(AHM)2024 and IA/816(AHM)2024, related to the…

- **Court:** NCLT
- **Order date:** 1 Aug 2024
- **Citation:** TCN-2024-NCLT-00897
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sunil-kumar-agrawal-vs-navin-kumar-tayal-450a9068

## Summary

### Background

The case involves two applications, IA/730(AHM)2024 and IA/816(AHM)2024, related to the insolvency resolution process of Mr. Navin Kumar Tayal, the personal guarantor of Krishna Knitwear Technology Ltd. IA/816(AHM)2024 was filed by the Resolution Professional (RP), Mr. Sunil Kumar Agarwal, seeking discharge and appropriate permission under Section 123(1)(b) of the IBC, 2016, due to the non-cooperation of the Personal Guarantor and the rejection of the repayment plan by the creditors. IA/730(AHM)2024 was filed by the RP under Regulation 22 of the IBBI Regulations, seeking directions for the Personal Guarantor to cooperate with the RP.

## Facts

Mr. Navin Kumar Tayal is the personal guarantor of Krishna Knitwear Technology Ltd. An insolvency resolution process was initiated against him. The Resolution Professional (RP), Mr. Sunil Kumar Agarwal, filed IA/816(AHM)2024 seeking discharge and permission to proceed under Section 123(1)(b) of the IBC, 2016, due to the personal guarantor's non-cooperation and the rejection of the repayment plan by the creditors. The RP also filed IA/730(AHM)2024 seeking directions for the personal guarantor to cooperate. The RP made a public announcement of the insolvency process. Creditors filed claims amounting to Rs. 69,98,45,18,916.55. The RP convened several meetings of the Committee of Creditors (CoC). The personal guarantor failed to disclose properties, hindering valuation.

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## Issues and analysis

### Issue 1: Whether the delay of 7 days in filing …

**Ratio:** The court has the discretion to condone delays in filing applications if sufficient cause

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**Reasoning:** The court considered the reasons for the delay and found it appropriate to condone the

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**Interpretation:** This relates to the court's procedural power to overlook minor delays in filing

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**Application:** The court condoned the 7-day delay in filing the application, allowing the

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** Sunil Kumar…
- **Respondents:** Krishna Knitwear…; Navin Kumar…
- **Advocates:** Nipun Si…; Mayur Jug…; +2 more

## Timeline

- **2024-01-03 — Tribunal Admits…**: The Tribunal admitted the insolvency…
- **2021-01-03 — Moratorium D…**: The Tribunal declared a moratorium in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 106 — Report of resolution professional on repayment…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-106)

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