# In the matter of State Bank of India vs. Siddhartha Todi, IB/632/ND/2021

> NCLT judgment dated 2021-10-25. Citation: TCN-2021-NCLT-00701. The case pertains to an application filed under Section 95 of an unspecified act. The…

- **Court:** NCLT
- **Order date:** 25 Oct 2021
- **Citation:** TCN-2021-NCLT-00701
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-siddhartha-todi-ib632nd2021-e3315f81

## Summary

### Background

The case pertains to an application filed under Section 95 of an unspecified act. The application involves a personal guarantor. A moratorium as per Section 96 is initiated on the date of filing the petition.

## Facts

An application has been filed under Section 95, likely of the Insolvency and Bankruptcy Code, 2016 (though not explicitly stated). This application concerns a personal guarantor. As a result of the application, a notice is to be issued to the personal guarantor. The Resolution Professional (RP) is required to file a report. A moratorium, as per Section 96, has been initiated, which takes effect from the date the petition was filed. The case is scheduled for further consideration on December 1, 2021. The order was delivered on October 25, 2021.

## Issues and analysis

### Issue 1: Whether a notice should be issued to the …

**Ratio:** The legal principle is based on the procedural requirements under Section 95, which

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**Reasoning:** The court's reasoning is that the issuance of notice is a mandatory step to ensure that

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**Interpretation:** Section 95 is interpreted to require notice to the personal guarantor to comply

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**Application:** The court applies this principle by directing that a notice be issued to the

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## Parties

- **Judges:** DHARMINDER…; SUMITA PURK…; +1 more
- **Appellants:** State Bank of…
- **Respondents:** Siddharth…

## Timeline

- **2021-10-25 — Order Del…**: The order was delivered…
- **2021-12-01 — Further Consi…**: The case is listed for further…

## 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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