# In the matter of S. Srinivasan vs. State Bank of India

> NCLAT judgment dated 2025-04-25. Citation: TCN-2025-NCLAT-00082. The State Bank of India initiated proceedings under Section 95 of the I&B Code, 2016 against…

- **Court:** NCLAT
- **Order date:** 25 Apr 2025
- **Citation:** TCN-2025-NCLAT-00082
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/s-srinivasan-vs-state-bank-of-india-bda8f668

## Summary

### Background

The State Bank of India initiated proceedings under Section 95 of the I&B Code, 2016 against the Personal Guarantor, S. Srinivasan, before the NCLT. Subsequently, the State Bank of India filed an application for withdrawal of the Company Petition under Section 95 of the Code. The Ld. Tribunal passed an order permitting the withdrawal of the Company Petition, with the liberty to file a fresh application. The Appellant, S. Srinivasan, challenged the order permitting the withdrawal.

## Facts

The State Bank of India initiated insolvency proceedings against S. Srinivasan, the Personal Guarantor of M/s. Sri Venkatram Spinners Pvt. Ltd., under Section 95 of the Insolvency and Bankruptcy Code, 2016. The proceedings were filed before the NCLT. Subsequently, the State Bank of India filed an application to withdraw the insolvency petition. The NCLT allowed the withdrawal. S. Srinivasan, being the personal guarantor and the opposite party in the insolvency proceedings, appealed against the NCLT's order allowing the withdrawal. The appellant argued that the withdrawal was not in accordance with Rule 10 & 11 of the Insolvency and Bankruptcy Rules, 2019. The State Bank of India argued that as the applicant to the proceedings, they had the right to withdraw the

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## Issues and analysis

### Issue 1: Whether the principles of 'Dominus Litus' can be overridden, allowing an opposite party to dictate …

**Ratio:** The principle of 'Dominus Litus' grants the applicant the prerogative to continue or

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**Reasoning:** The court reasoned that the applicant, being the master of their own case, has the right

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**Interpretation:** The principle of 'Dominus Litus' allows the initiator of legal proceedings to

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**Application:** The court applied the principle by stating that State Bank of India, as the

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## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** S. Srini…
- **Respondents:** M/s. Sri Venkatram…; State Bank of…
- **Advocates:** V. Arvind…; R.Sugum…

## Timeline

- **2024-03-22 — Initiation of…**: State Bank of India initiated proceedings under Section 95 of I & B Code, 2016 before Ld.…
- **2024-05-31 — Application for…**: State Bank of India filed an application for withdrawal of the Company Petition under…

## 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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