# In the matter of State Bank of India vs. Jitendra Singh & Ors.

> NCLT judgment dated 2026-03-18. Citation: TCN-2026-NCLT-00288. The case involves two petitions filed by State Bank of India under Section 95 of the Insolvency…

- **Court:** NCLT
- **Order date:** 18 Mar 2026
- **Citation:** TCN-2026-NCLT-00288
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-jitendra-singh-ors-a0d748d0

## Summary

### Background

The case involves two petitions filed by State Bank of India under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Insolvency Resolution Process against Mr. Jitendra Singh and Mrs. Gurmeet Sodhi, who are personal guarantors to the Corporate Debtor, M/s Kudos Chemie Ltd.

## Facts

State Bank of India filed petitions under Section 95 of the Insolvency and Bankruptcy Code, 2016 against Jitendra Singh and Gurmeet Sodhi, personal guarantors to M/s Kudos Chemie Ltd.

The petitions were filed on 10.08.2021.

The amount claimed to be in default is Rs. 348,38,57,247.54/- as on 29.05.2021.

The Corporate Debtor's account was classified as NPA on 31.05.2015.

A demand notice was issued on 05.11.2016 under Section 13(2) of the SARFAESI Act.

A Recovery Certificate was issued on 06.01.2020.

CIRP against the Corporate Debtor was admitted on 05.07.2019.

The Resolution Professional submitted a report on 06.01.2024 recommending admission of the petitions.

…

## Issues and analysis

### Issue 1: Whether the present Petitions …

**Ratio:** A Recovery Certificate gives rise to a fresh cause of action for initiating proceedings

…

**Reasoning:** The Recovery Certificate was issued on 06.01.2020, and the present Petitions were filed

…

**Interpretation:** The moratorium under Section 14 of the Code does not extend to a surety in a

…

**Application:** The statutory protection of moratorium is confined to the Corporate Debtor and

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## Parties

- **Judges:** KHETRABASI…; SHISHIR A…
- **Appellants:** State Bank of…
- **Respondents:** M/s Kudos Chemie…; Jitendra…; +1 more
- **Other parties:** Anup…
- **Advocates:** Harsh…; Pulkit…; +6 more

## Timeline

- **2014-09-30 — Deed of Gua…**: Respondents executed a Deed of…
- **2014-12-29 — Further Deed of…**: Respondents executed a further Deed…

## 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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