# In the matter of State Bank of India vs. Shri Bernard John,

> NCLAT judgment dated 2025-10-17. Citation: TCN-2025-NCLAT-00528. The appeal was filed by State Bank of India (Financial Creditor) against the order dated…

- **Court:** NCLAT
- **Order date:** 17 Oct 2025
- **Citation:** TCN-2025-NCLAT-00528
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/state-bank-of-india-vs-shri-bernard-john-188a4981

## Summary

### Background

The appeal was filed by State Bank of India (Financial Creditor) against the order dated 16.07.2024 passed by the National Company Law Tribunal, Indore Bench-I, which dismissed the application for initiation of insolvency resolution process against the personal guarantor, Shri Bernard John.

## Facts

M/s GEI Industrial Systems Ltd., (Corporate Debtor) was incorporated on 28.12.1993.

The Corporate Debtor approached State Bank of India and other consortium banks for credit facilities.

On 24.03.2009 a loan agreement was executed between the Corporate Debtor and the Appellant.

Shri Bernard John, along with the Managing Director, Mr. C.E. Fernandes, executed a deed of guarantee in favor of the Appellant.

The account of the Corporate Debtor was classified as a Non-Performing Asset (NPA) on 28.05.2016.

The Appellant issued a demand-cum-recall notice dated 30.09.2016.

The ICICI Bank filed a recovery suit on 14.03.2017 before the Debts Recovery Tribunal.

Insolvency proceedings were initiated against the Corporate Debtor by M/s Beeta Kone Tools, an Operational Creditor.

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## Issues and analysis

### Issue 1: Whether the application filed under Section 95 of the Insolvency and Bankruptcy Code, 2016, by the …

**Ratio:** The Adjudicating Authority's finding that the petition was time-barred suffers from a

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**Reasoning:** The Corporate Debtor's balance sheets for FY 2016–17 to FY 2019–20 contained clear and

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**Interpretation:** Acknowledgment of liability in a company's balance sheet constitutes

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**Application:** The acknowledgment of liability made by the Corporate Debtor in its financial

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## Parties

- **Judges:** Yogesh K…; Indevar P…
- **Appellants:** State Bank of…
- **Respondents:** GEI Industrial…; Bernard…
- **Other parties:** C.E. Fern…; Robinson Fe…; +2 more
- **Advocates:** HARSHIT…; Praful…; +3 more

## Timeline

- **2024-07-16 — Order Da…**: The National Company Law Tribunal, Indore Bench-I, passed an order dismissing the…
- **2025-10-17 — Judgement…**: The National Company Law Appellate Tribunal allowed the appeal and set aside the order…

## 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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