# In the matter of Bank of Baroda vs. J Susheela Reddy

> NCLT judgment dated 2023-11-29. Citation: TCN-2023-NCLT-00531. A petition was filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) by a…

- **Court:** NCLT
- **Order date:** 29 Nov 2023
- **Citation:** TCN-2023-NCLT-00531
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-j-susheela-reddy-2292337f

## Summary

### Background

A petition was filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) by a Financial Creditor. The court heard the counsel for the Financial Creditor and perused the record.

## Facts

A petition was filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Bank of Baroda, the Financial Creditor, against Mrs. J Susheela Reddy, the Respondent. The Financial Creditor proposed Mr. Harish Kant Kaushik as the Resolution Professional (RP). The court appointed Mr. Harish Kant Kaushik as RP and directed him to submit a report under Section 99 of IBC within 10 days. An interim moratorium was imposed, preventing legal actions against the debtor and prohibiting creditors from initiating new actions. The petitioner is directed to issue notice to the respondent and file proof of the same by way of an Affidavit. The matter was adjourned to 2024-01-15.

## Issues and analysis

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

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

…

**Reasoning:** The court considered the petition filed by the Financial Creditor under Section 95 of the

…

**Interpretation:** Section 95 provides a mechanism for financial creditors to initiate insolvency

…

**Application:** The petition was filed by Bank of Baroda, a Financial Creditor, against Mrs. J

…

## Parties

- **Judges:** Venkata Ramakrishn…; SHRI. SANJA…
- **Appellants:** Bank of B…
- **Respondents:** J Susheela…

## Timeline

- **2023-11-29 — Hearing…**: Hearing of National Company Law Tribunal,…
- **N/A — RP Appoin…**: Mr. Harish Kant Kaushik…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-j-susheela-reddy-2292337f