# In the matter of State Bank of India Vs. Rohit Patni, CP (IB) No. 135 (KB)/2021

> NCLT judgment dated 2021-09-21. Citation: TCN-2021-NCLT-01054. The case involves an application filed by State Bank of India under Section 95(1) of the…

- **Court:** NCLT
- **Order date:** 21 Sept 2021
- **Citation:** TCN-2021-NCLT-01054
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-rohit-patni-cp-3a1a66ef

## Summary

### Background

The case involves an application filed by State Bank of India under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against the personal guarantor, Mr. Rohit Patni, who is a director of Rohit Ferro-Tech Limited (RFTL). RFTL had availed loan facilities amounting to Rs. 1269,59,00,000 from the applicant. The applicant filed an application before the Debt Recovery Tribunal - 1, Kolkata, being OA No. 309 of 2018 to realise its dues. Meanwhile, RFTL was admitted under CIRP by the National Company Law Tribunal, Kolkata Bench vide order

…

## Facts

State Bank of India (SBI) extended loan facilities amounting to Rs. 1269,59,00,000 to Rohit Ferro-Tech Limited (RFTL). Mr. Rohit Patni, being a director of RFTL, provided a personal guarantee to secure the loan. RFTL defaulted on the repayment of the loan. SBI initiated recovery proceedings before the Debt Recovery Tribunal (DRT), Kolkata, being OA No. 309 of 2018. Subsequently, RFTL was admitted into Corporate Insolvency Resolution Process (CIRP) by the NCLT, Kolkata, vide order dated 07/02/2020 in CP(IB) No.1214/KB/2018. SBI, as the creditor, issued a demand notice to Mr. Rohit Patni on 26/03/2021 under rule 7(1) of the IB Rules, 2019, but received no response. Mr. Joy Saha, appearing for the respondent, raised an objection to the application, stating that an

…

## Issues and analysis

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

**Ratio:** Section 95(1) of the Insolvency and Bankruptcy Code, 2016, allows a creditor to initiate

…

**Reasoning:** The court considered the application filed by State Bank of India under Section 95(1) of

…

**Interpretation:** Section 95(1) provides a mechanism for creditors to recover their dues from

…

**Application:** In this case, the applicant, State Bank of India, has provided evidence that

…

## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Appellants:** State Bank of…
- **Respondents:** Rohit Ferro Tech…; Rohit P…

## Timeline

- **2011-09-19 — Execution of Deed of…**: Deed of Guarantees…
- **2013-03-30 — Execution of Deed of…**: Deed of Guarantees…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-rohit-patni-cp-3a1a66ef