# State Bank of India vs. Anopsingh Kiritsinh Sarvaiya & Ors.

> NCLAT judgment dated 16 Apr 2026. Citation: TCN-2026-NCLAT-00029. The State Bank of India (SBI) sanctioned credit facilities to M/s Yogiraj Ginning and Oil…

- **Court:** NCLAT
- **Order date:** 16 Apr 2026
- **Citation:** TCN-2026-NCLAT-00029
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/state-bank-of-india-vs-anopsingh-kiritsinh-sarvaiya-ors-5gdu8

## Summary

### Background

The State Bank of India (SBI) sanctioned credit facilities to M/s Yogiraj Ginning and Oil Industries Pvt. Ltd. (Corporate Debtor), for which the Respondents served as Personal Guarantors. Upon the Corporate Debtor's default on 13.06.2018 and subsequent declaration as an NPA on 27.09.2018, SBI issued demand notices under Section 13(2) of the SARFAESI Act, 2002, to both the Corporate Debtor and the Personal Guarantors, demanding outstanding liabilities. Subsequently, SBI filed applications under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC), against the Personal Guarantors. The Adjudicating Authority (National Company Law Tribunal, Ahmedabad) dismissed these applications by separate orders dated 07.03.2024, prompting SBI to file multiple Company Appeals

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## Facts

The State Bank of India (SBI) sanctioned credit facilities to M/s Yogiraj Ginning and Oil Industries Pvt. Ltd. (Corporate Debtor) in 2012.

The credit facilities were renewed and enhanced on 26.04.2017 and 06.06.2018.

Personal Guarantors, the respondents, executed personal guarantees for credit facilities aggregating to Rs.19.65 crores, with the last guarantee issued on 24.03.2015.

The Personal Guarantors claimed to have issued a revival letter on 19.09.2017.

The Corporate Debtor defaulted in repayment on 13.06.2018, leading to the account being declared as a Non-Performing Asset (NPA) on 27.09.2018.

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## Issues and analysis

### Issue 1: Whether the applications filed by SBI under Section 95 of the IBC against the personal guarantors …

**Ratio:** The limitation period for initiating proceedings against personal guarantors under

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**Reasoning:** The Adjudicating Authority concluded the applications were time-barred based on a default

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**Interpretation:** The NCLAT interpreted that the limitation period for personal guarantors starts

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**Application:** Given that the personal guarantee was invoked on 25.10.2019, leading to a

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## Parties

- **Judges:** Ashok Bh…; Indevar P…
- **Appellants:** State Bank of…
- **Respondents:** M/s Yogiraj…; Anopsingh…; +8 more
- **Other parties:** Insolvency and…; Personal Gu…; +7 more

## Timeline

- **2012 — Credit Facilities…**: State Bank of India sanctioned credit facilities to M/s Yogiraj Ginning and Oil…
- **2015-03-24 — Personal Guarantees…**: Personal Guarantors executed personal guarantees for credit facilities aggregating to…

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