# In the matter of Bank of Baroda Vs. Hari Singh Thakur, CP (IB) - 187/ND/2022

> NCLT judgment dated 2022-03-29. Citation: TCN-2022-NCLT-03492. This is an application filed under Section 95 of the Code against the personal guarantor, Mr.…

- **Court:** NCLT
- **Order date:** 29 Mar 2022
- **Citation:** TCN-2022-NCLT-03492
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-hari-singh-thakur-cp-eba49f74

## Summary

### Background

This is an application filed under Section 95 of the Code against the personal guarantor, Mr. Sandeep Kumar Bhatt. The applicant's counsel submitted that the Demand Notice in Form-B has already been served to the personal guarantor. The counsel seeks to pass an order as required under Section 96 & 97.

## Facts

An application was filed under Section 95 of the Code against the personal guarantor, Mr. Sandeep Kumar Bhatt. The applicant's counsel stated that the Demand Notice in Form-B had been served to the personal guarantor. The counsel requested the court to pass an order as required under Section 96 & 97 of the Code. The court then ordered the initiation of an interim moratorium under section 96 and appointed Mr. Sandeep Kumar Bhatt as the personal guarantor, bearing Registration No. IBBI/IPA-002/IP-N01064-C01/2017-2018/10298. Mr. Sandeep Kumar Bhatt is required to file a report within 4 weeks. A notice to the Personal Guarantor was issued, and the case was listed on 19.05.2022 for further proceedings.

## Issues and analysis

### Issue 1: Whether to initiate an interim moratorium under section 96 of the Code against the personal …

**Ratio:** Section 96 of the Code allows for the initiation of an interim moratorium upon the filing

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**Reasoning:** The court considered the application filed under Section 95 and the submission of the

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**Interpretation:** Section 96 provides the legal basis for initiating an interim moratorium when

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**Application:** The court applied Section 96 to the facts of the case, where an application

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## Parties

- **Judges:** DHARMINDER…; SUMITA PURK…; +1 more
- **Appellants:** Bank of B…
- **Respondents:** Hari Singh…

## Timeline

- **2022-03-29 — Order Del…**: Order delivered on the…
- **2022-05-19 — Further Proc…**: 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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