# In the matter of Krishan Kumar Basia
Vs. 
State Bank of India Company Appeal (AT) (Insolvency) No 721 of 2022

> NCLAT judgment dated 2022-07-14. Citation: TCN-2022-NCLAT-00363. The case involves three appeals against the order dated 06.06.2022 passed by the National…

- **Court:** NCLAT
- **Order date:** 14 Jul 2022
- **Citation:** TCN-2022-NCLAT-00363
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/krishan-kumar-basia-vs-state-bank-of-india-company-appeal-f6c2dc62

## Summary

### Background

The case involves three appeals against the order dated 06.06.2022 passed by the National Company Law Tribunal (NCLT), New Delhi, Special Bench (Court-II), concerning three different applications filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The NCLT appointed a Resolution Professional to submit a report under Section 99 of the IBC. The appeals arise from similar facts and circumstances, raising similar issues, and are decided by a common judgment. The core issue revolves around the timing of filing an application under Section 94 and 95 of the IBC and its impact on the commencement of moratorium under Section 96.

## Facts

State Bank of India (SBI) filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC) on October 1, 2021. This application was later numbered as Case No. CP-IB 111 of 2022. Krishan Kumar Basia, the Guarantor of M/s. Gee Ispat Private Limited, filed an application under Section 94 of the IBC on October 25, 2021, which was registered as CP-IB 788/2021. SBI's application was filed earlier, but the Guarantor's application was registered earlier. The Guarantor argued that their Section 94 application was effectively filed earlier because it was numbered before SBI's application. The Adjudicating Authority ruled that SBI's application was filed earlier and appointed a Resolution Professional. The key point of contention is whether the date of filing

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## Issues and analysis

### Issue 1: Whether the date of filing an application under Section 94 and 95 of the Insolvency and Bankruptcy …

**Ratio:** The date of filing is the date when the application is presented to the Registry,

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**Reasoning:** The court reasoned that with the availability of electronic filing, the act of filing is

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**Interpretation:** The court interpreted the relevant rules, including Rule 10 of the Insolvency

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**Application:** The court applied this ratio to the facts of the case, noting that State Bank

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## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** Krishan Kumar…
- **Respondents:** Gee Ispat Private…; State Bank of…

## Timeline

- **2021-10-01 — Application by State…**: State Bank of India filed an…
- **2021-10-25 — Application by Krishan…**: Krishan Kumar Basia, the Guarantor, filed an…

## 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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