# 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-04652. 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-04652
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/bank-of-baroda-vs-shaktinath-mariappan-cp-80fa761a

## Summary

### Background

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

The application was filed against Mr. Shakthinath Mariappan, the personal guarantor of M/s. Supreme Coated Board Mills Private Limited.

The Corporate Debtor was ordered for CIRP vide order dated 30.09.2019.

The Applicant filed the application on 06.10.2021 seeking initiation of Insolvency Resolution Process for Personal Guarantors to Corporate Debtors.

Mr. S Muthuraju was appointed as the Resolution Professional vide order dated 08.03.2022.

The Resolution Professional submitted his report on 24.03.2022.

The Adjudicating Authority admitted the application based on the report and observations.

A moratorium was declared under Section 101 of the Code.

…

## Issues and analysis

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

**Ratio:** Based on the report of the Resolution Professional and the observations extracted

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**Reasoning:** The Resolution Professional recommended the acceptance of the application, and the

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**Interpretation:** The Adjudicating Authority interpreted the provisions of Section 95(1) of the

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**Application:** The Adjudicating Authority applied the provisions of Section 95(1) of the IBC,

…

## Parties

- **Judges:** S. Ramath…; Anil Ku…
- **Appellants:** Bank of B…
- **Respondents:** Supreme Coated…; Shakthinath…
- **Other parties:** S. Muth…
- **Advocates:** K. Ravind…; K.K. Vijay…; +1 more

## Timeline

- **2019-09-30 — CIRP Ord…**: Corporate Debtor was…
- **2021-10-06 — Application…**: Applicant filed the application…

## 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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