# In the matter of S. Kasi Viswanathan

> NCLT judgment dated 2026-04-01. Citation: TCN-2026-NCLT-00344. Billionloans Financial Services Pvt Ltd, a financial creditor, filed a petition under Section…

- **Court:** NCLT
- **Order date:** 1 Apr 2026
- **Citation:** TCN-2026-NCLT-00344
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/s-kasi-viswanathan-b99a22a8

## Summary

### Background

Billionloans Financial Services Pvt Ltd, a financial creditor, filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Mrs. Waheeda Khan, the personal guarantor of M/s Big Truck Technologies Private Limited, a corporate debtor. The Resolution Professional, Mr. S. Kasi Viswanathan, recommended the admission of the application.

## Facts

Billionloans Financial Services Pvt Ltd is a Non-Banking Financial Institution (NBFC).

Mrs. Waheeda Khan is the personal guarantor for M/s Big Truck Technologies Private Limited.

A credit facility of Rs. 50 lakhs was granted to Corporate Debtor on 26.09.2022.

An additional Rs. 50 lakhs were sanctioned on 10.11.2022, increasing the total credit facility to Rs. 1 crore.

The loan facilities were restructured multiple times, including in 2023 and 2024.

The Corporate Debtor was declared NPA since September 2023.

The Financial Creditor issued a demand notice in Form B on 20.01.2025.

The Financial Creditor filed a petition under Section 95(1) of the IBC on 27.05.2025.

Mr. S. Kasi Viswanathan was appointed as the Resolution Professional.

…

## Issues and analysis

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

**Ratio:** The application should be admitted if it satisfies the requirements set out under

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**Reasoning:** The Resolution Professional examined the application and ascertained that it satisfies

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**Interpretation:** The court interpreted Section 95 of the IBC, 2016, to mean that if the

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**Application:** The court applied this interpretation to the facts of the case and found that

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Billionloans…; S. Kasi Viswanatha…
- **Respondents:** M/s Big Truck…; Waheeda…

## Timeline

- **2022-09-26 — Credit Facilit…**: A credit facility of Rs. 50 lakhs…
- **2022-10-08 — Further R…**: Following a further request dated 08.10.2022, an additional Rs. 50 lakhs were sanctioned…

## 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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