# In the matter of Solapur Janata Sahakari Bank Ltd Vs. Dattatray Sudhakar Hande, CP (IB)/342(MB)/2022

> NCLT judgment dated 14 Sept 2022. Citation: TCN-2022-NCLT-01072. This case involves a company petition filed by Solapur Janata Sahakari Bank Limited, the…

- **Court:** NCLT
- **Order date:** 14 Sept 2022
- **Citation:** TCN-2022-NCLT-01072
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/solapur-janata-sahakari-bank-ltd-vs-dattatray-sudhakar-hande-cp-d649c161

## Summary

### Background

This case involves a company petition filed by Solapur Janata Sahakari Bank Limited, the Financial Creditor, under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC), read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to the Corporate Debtors) Rules, 2019. The petition seeks to initiate a Personal Insolvency Resolution Process (CIRP) against Mr. Dattatray Sudhakar Hande, who is the Personal Guarantor of M/S. Shetkari Sakhar Karkhana (Chandrapuri) Limited. The Financial Creditor had previously attempted to serve a demand notice and the petition along with a court notice to the Personal Guarantor.

## Facts

Solapur Janata Sahakari Bank Limited, the Financial Creditor, filed a Company Petition under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Mr. Dattatray Sudhakar Hande, the Personal Guarantor of M/S. Shetkari Sakhar Karkhana (Chandrapuri) Limited. The petition seeks to initiate a Personal Insolvency Resolution Process (CIRP) against the personal guarantor, following the provisions of the IBC and Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to the Corporate Debtors) Rules, 2019.

## Issues and analysis

### Issue 1: Whether the Financial Creditor has successfully served the demand notice and the petition to the…

**Ratio:** Successful service of the demand notice and petition, including through substituted…

**Reasoning:** The court noted that the demand notice was successfully delivered via Speed Post on…

**Interpretation:** The court interpreted the service requirements under Section 95 of the IBC to…

**Application:** Given that the demand notice was delivered and substituted service of the…

## Parties

- **Judges:** Satya Ranjan…; KISHORE VEMULAPALL…
- **Advocates:** For the Financial…; Ld. Cou…

## Timeline

- **December 27, 2021 — Demand Notice…**: Copy of Demand Notice successfully delivered to the Personal Guarantor by way of Speed…
- **March 11, 2022 — Petition and Notice…**: Copy of Petition and Court Notice served to the Personal Guarantor by way of Registered…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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