# In the matter of S. Kasi Viswanathan

> NCLT judgment dated 2026-04-01. Citation: TCN-2026-NCLT-00328. Billionloans Financial Services Pvt. Ltd., a financial creditor, filed a petition under Section…

- **Court:** NCLT
- **Order date:** 1 Apr 2026
- **Citation:** TCN-2026-NCLT-00328
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/s-kasi-viswanathan-e318faca

## Summary

### Background

Billionloans Financial Services Pvt. Ltd., a financial creditor, filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Khurshid Alam, the personal guarantor to a corporate debtor, Big Truck Technologies Private Limited. The Resolution Professional recommended the admission of the application.

## Facts

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

Mr. Khurshid Alam is the Personal Guarantor and a Director of M/s Big Truck Technologies Pvt. Ltd., the Corporate Debtor.

A credit facility of Rs.50 lakhs was granted to Corporate Debtor on 26.09.2022, followed by an additional Rs. 50 lakhs on 10.11.2022, totaling Rs. 1 crore.

The facility was restructured multiple times, and the Corporate Debtor was declared NPA since September 2023.

The Financial Creditor issued a demand notice in Form B on 20.01.2025 to the Personal Guarantor.

The Financial Creditor filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, 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, is …

**Ratio:** The application is maintainable as it satisfies the requirements of Section 95 of the

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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 to allow for the initiation of insolvency

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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:** Big Truck…; Khurshid…
- **Advocates:** Rajagop…

## Timeline

- **2022-09-26 — Credit Facilit…**: A credit facility of Rs.50 lakhs…
- **2022-09-27 — Personal Guarantee…**: Personal guarantee agreement was…

## 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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