# In the matter of Bank of Baroda Vs. G. Praveen Kumar, CP/IB/302/2022

> NCLT judgment dated 2023-01-30. Citation: TCN-2023-NCLT-04861. The case pertains to a Company Petition IB/302/2022 filed under Section 95 of the Insolvency…

- **Court:** NCLT
- **Order date:** 30 Jan 2023
- **Citation:** TCN-2023-NCLT-04861
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-g-praveen-kumar-cpib3022022-691b82e2

## Summary

### Background

The case pertains to a Company Petition IB/302/2022 filed under Section 95 of the Insolvency and Bankruptcy Code (IBC). The court is considering an application where G. Praveen Kumar is the company and the Bank of Baroda is the petitioner. The court is examining a prima-facie default by the Personal Guarantor.

## Facts

The Bank of Baroda filed a Company Petition (IB/302/2022) against G. Praveen Kumar under Section 95 of the IBC, alleging a default by the Personal Guarantor. The court found a prima-facie default and appointed Mr. Bolisetti Jaya Babu as the Resolution Professional. The court directed the Resolution Professional to submit a report within 10 days under Section 99 of the IBC. An interim moratorium was declared, preventing legal actions against the debtor and barring creditors from initiating new proceedings. The petitioner is required to pay Rs. 50,000 to the Resolution Professional for expenses. The case is listed for further hearing on 2023-03-02.

## Issues and analysis

### Issue 1: Whether there is a prima-facie default by the Personal Guarantor warranting the appointment of a …

**Ratio:** When a prima-facie default by the Personal Guarantor is established, the court has the

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**Reasoning:** The court, upon reviewing the application, determined that a prima-facie default existed.

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**Interpretation:** The interpretation of 'prima-facie default' involves assessing the available

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**Application:** In this case, the court applied the ratio by finding a prima-facie default

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## Parties

- **Judges:** TELAPROLU…; SH. CHARAN…
- **Appellants:** Bank of B…
- **Respondents:** G. Praveen…

## Timeline

- **2023-01-30 — Hearing…**: Hearing held on…
- **2023-03-02 — Next Hearin…**: Case 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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