# In the matter of Bank of Baroda Vs. Shaktinath Mariappan, CP (IB) No/263/2021

> NCLT judgment dated 2022-06-20. Citation: TCN-2022-NCLT-04651. Bank of Baroda filed an application under Section 95(1) of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 20 Jun 2022
- **Citation:** TCN-2022-NCLT-04651
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/bank-of-baroda-vs-shaktinath-mariappan-cp-169af5c2

## Summary

### Background

Bank of Baroda filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against the personal guarantor, Mr. Shakthinath Mariappan, of M/s. Supreme Coated Board Mills Private Limited, the Corporate Debtor.

## Facts

Bank of Baroda filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Mr. Shakthinath Mariappan.

The application was filed due to the failure of the personal guarantor, Mr. Shakthinath Mariappan, to repay dues availed by the Corporate Debtor, M/s. Supreme Coated Board Mills Private Limited.

The Adjudicating Authority appointed Mr. S Muthuraju as the Resolution Professional.

The Resolution Professional submitted a report to the Adjudicating Authority on 24.03.2022.

The Adjudicating Authority admitted the application and declared a moratorium under Section 101 of the Code.

The Adjudicating Authority directed the Resolution Professional to file an Interim Application under section 106 of the code on or before 17.08.2022.

## Issues and analysis

### Issue 1: Whether the application filed by Bank of Baroda under Section 95(1) of the Insolvency and …

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

…

**Reasoning:** The application was filed by Bank of Baroda, a financial creditor, against Mr.

…

**Interpretation:** The Adjudicating Authority has the power to admit the application if it meets

…

**Application:** The Adjudicating Authority considered the application and the report of the

…

## Parties

- **Judges:** (Retd.) S.…; Anil Ku…
- **Appellants:** Bank of B…
- **Respondents:** M/S. SUPREME…; Shakthinath…
- **Other parties:** S. Muth…
- **Advocates:** K. Ravind…; K.K. Vijay…; +1 more

## Timeline

- **2019-09-30 — CIRP Ord…**: Corporate Debtor was ordered for…
- **2021-10-06 — Application…**: The Applicant herein had filed the instant applicant under section 95 of the Code on…

## 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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