# In the matter of State Bank of India vs. Vijay Shanker Singh

> NCLT judgment dated 2021-10-25. Citation: TCN-2021-NCLT-00700. The case pertains to a petition filed under Section 95 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 25 Oct 2021
- **Citation:** TCN-2021-NCLT-00700
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-vijay-shanker-singh-6739c223

## Summary

### Background

The case pertains to a petition filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Financial Creditor initiated the petition, and the court heard submissions from the Learned Counsels for the Financial Creditor and reviewed the application.

## Facts

A petition was filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) by a Financial Creditor. The Financial Creditor proposed Mr. Kasi Srinivas as the Resolution Professional (RP). The court considered the submissions of the Financial Creditor's counsel and perused the application. The court appointed Mr. Kasi Srinivas as the RP. An interim moratorium was ordered, commencing from the date of filing the petition. The petitioner is required to issue notice to the respondent and file proof of service. The matter was adjourned to 23.11.2021.

## Issues and analysis

### Issue 1: Whether the petition filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 is …

**Ratio:** Section 95 of the Insolvency and Bankruptcy Code, 2016 allows a financial creditor to

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**Reasoning:** The court heard the submissions made by the Learned Counsels for the Financial Creditor

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**Interpretation:** Section 95 provides the legal basis for initiating insolvency proceedings by a

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**Application:** The court's decision to proceed with the petition indicates that the Financial

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## Parties

- **Judges:** Venkata Ramakrishn…; BINOD KUMAR…
- **Appellants:** State Bank of…
- **Respondents:** Vijay Shanker…

## Timeline

- **2021-10-25 — Hearing…**: Hearing held on 25.10.2021 at…
- **2021-11-23 — Adjournmen…**: Matter stands adjourned…

## 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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