# In the matter of State Bank of India Vs. Nitin Garg, CP (IB) No. 370(ND)/2022

> Read the full IBC case summary for In the matter of State Bank of India Vs. Nitin Garg, CP (IB) No. 370(ND)/2022. NCLT judgment dated 2022-06-10. Citation:…

- **Court:** NCLT
- **Order date:** 10 Jun 2022
- **Citation:** TCN-2022-NCLT-04671
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-nitin-garg-cp-c0585c04

## Summary

### Background

State Bank of India filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, to initiate an Insolvency Resolution Process against Mr. Nitin Garg, who is the personal guarantor of M/s Alupan Composite Panels Pvt. Ltd.

## Facts

State Bank of India, the applicant, filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate an Insolvency Resolution Process against Mr. Nitin Garg. Mr. Garg is identified as the personal guarantor for M/s Alupan Composite Panels Pvt. Ltd., which is referred to as the corporate debtor in this proceeding. The application was filed to address the insolvency of the personal guarantor.

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## Issues and analysis

### Issue 1: Whether an interim-moratorium commences upon the filing of an application under Section 95 of the…

**Ratio:** An interim-moratorium, as per Section 96(1)(a) of the IBC, 2016, commences upon the…

**Reasoning:** The NCLT referred to Section 96(1)(a) of the IBC, 2016, which explicitly states that an…

**Interpretation:** The court interpreted Section 96(1)(a) to mean that the act of filing the…

**Application:** Upon the State Bank of India's filing of the application against Mr. Nitin…

## Parties

- **Judges:** HEMANT KUMAR…; ABNI RANJAN KUMAR…
- **Advocates:** For the Applicant:…; For the Respondent…

## Timeline

- **May 25, 2022 — Limited Notic…**: Limited Notice was issued to the…
- **June 3, 2022 — IBBI Let…**: IBBI informed the NCLT regarding the use of the online database for sections 97(2) and…

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