# In the matter of Premjit Singh Chadha Vs. Bank of Baroda Company Appeal (AT) (Insolvency) No. 289 of 2022

> NCLAT judgment dated 2022-05-27. Citation: TCN-2022-NCLAT-00687. This appeal challenges the order dated 15/02/2022 passed by the National Company Law…

- **Court:** NCLAT
- **Order date:** 27 May 2022
- **Citation:** TCN-2022-NCLAT-00687
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/premjit-singh-chadha-vs-bank-of-baroda-company-appeal-2752c8b1

## Summary

### Background

This appeal challenges the order dated 15/02/2022 passed by the National Company Law Tribunal, New Delhi, Bench III, which declared an Interim Moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016.

## Facts

The Appellant is the Personal Guarantor of M/s. ANG Companies Ltd., which is currently undergoing Liquidation.

The Appellant received summons dated 15/10/2020 issued by the DRT Tribunal, Delhi, filed by the Respondent Bank for recovery of Rs.55,54,37,926/-.

The Respondent Bank issued a Demand Notice dated 06/10/2021 claiming a total debt of Rs.44,94,73,343.31/-.

The Appellant replied on 24/10/21 stating that the Bank failed to attach the necessary documents to the Demand Notice.

An Application under Section 95 of the Code dated 03/01/2022 was filed by the Bank initiating Personal Insolvency against the Appellant.

The Appellant was served with the complete set of the Application under Section 95 of the Code on 12/01/2022.

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## Issues and analysis

### Issue 1: Whether the Order of the Adjudicating Authority has to be set aside on the ground that limited …

**Ratio:** Section 95(5) requires the Creditor to provide a copy of the application under

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**Reasoning:** The Tribunal relied on its previous decision in ‘Mr. Ravi Ajeet Kulkarni Vs. State Bank

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**Interpretation:** The Tribunal interpreted Section 95(5) and Rule 3(1)(g) to mean that the

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**Application:** The Tribunal found that the Appellant was represented and aware of the

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## Parties

- **Judges:** Ashok Bh…; Shreesha…
- **Appellants:** Premjit Singh…
- **Respondents:** ANG Industries…; Bank of B…
- **Other parties:** Deepak M…
- **Advocates:** Simarpal Singh…; Sidhant…; +2 more

## Timeline

- **2022-02-15 — Impugned Ord…**: Order passed by the National Company Law Tribunal, New Delhi, Bench III, declaring an…
- **2020-10-15 — Summons…**: Appellant received summons…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 96 — Interim- moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-96)

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