The petitioners, R.Malliga and V.Ramakrishnan, were the promoters/directors of M/s.Veesons Energy Systems Private Limited. They stood as personal guarantors for a loan advanced by the State Bank of India (first respondent). The company defaulted on the loan repayment. Consequently, the first respondent declared the petitioners as willful defaulters via an order dated 27.11.2018. The petitioners challenged this order through a writ petition. The first respondent argued that the matter was under consideration by the NCLT, and a moratorium order had been passed under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petitioners contended that they were not given an opportunity by the Review Committee before being declared willful defaulters.

The petitioners, R.Malliga and V.Ramakrishnan, were the promoters/directors of M/s.Veesons Energy Systems Private Limited. They stood as personal guarantors for a loan advanced by the State Bank of India (first respondent). The company defaulted on the loan repayment. Consequently, the first respondent declared the petitioners as willful defaulters via an order dated 27.11.2018. The petitioners challenged this order through a writ petition. The first respondent argued that the matter was under consideration by the NCLT, and a moratorium order had been passed under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petitioners contended that they were not given an opportunity by the Review Committee before being declared willful defaulters.