# In the matter of Tata Capital Financial Services Ltd Vs. Mr. Sanjay Mehra, CP (IB)/499/ND/2022

> NCLT judgment dated 2022-06-09. Citation: TCN-2022-NCLT-02311. The case involves an application filed by the Resolution Professional under Section 95 of the…

- **Court:** NCLT
- **Order date:** 9 Jun 2022
- **Citation:** TCN-2022-NCLT-02311
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tata-capital-financial-services-ltd-vs-mr-sanjay-mehra-cp-ac6fd51d

## Summary

### Background

The case involves an application filed by the Resolution Professional under Section 95 of the Code against the personal guarantor, Mr. Sanjay Mehra. The applicant's counsel stated that the Demand Notice in Form-B has already been served to the personal guarantor.

## Facts

The Resolution Professional filed an application under Section 95 of the Code against Mr. Sanjay Mehra, the personal guarantor. The applicant's counsel submitted that the Demand Notice in Form-B had already been served to Mr. Mehra. The counsel sought an order as required under Sections 96 & 97 of the IBC. The court then ordered the initiation of an Interim Moratorium under section 96 of the Code and appointed Mr. Sunder Khatri as the Insolvency Resolution Professional. Mr. Khatri is required to submit his report within 4 weeks. A notice was issued to the Personal Guarantor, and the case was listed for further proceedings on 18.07.2022. The key facts are the application against the personal guarantor, service of demand notice, and the request for an order under IBC.

## Issues and analysis

### Issue 1: Whether to initiate an Interim Moratorium under Section 96 of the Code against the personal …

**Ratio:** Section 96 of the Code allows for the initiation of an Interim Moratorium upon the filing

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**Reasoning:** The court considered the application filed under Section 95 and the submission that the

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**Interpretation:** Section 96 provides a mechanism for a temporary suspension of legal proceedings

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**Application:** Given the application against Mr. Sanjay Mehra as the personal guarantor and

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## Parties

- **Judges:** DHARMINDER…; SUMITAPURKA…
- **Appellants:** Tata Capital…
- **Respondents:** Sanjay…

## Timeline

- **2022-06-09 — Order Del…**: Order delivered under…
- **2022-07-18 — Further Proc…**: Case listed for further…

## Legal provisions

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

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