# In the matter of Bank of Baroda vs. Raju Petta Hanumantha Kashturi Reddy

> NCLT judgment dated 2024-01-11. Citation: TCN-2024-NCLT-03123. This case involves a Company Petition filed by Bank of Baroda, the Financial Creditor, under…

- **Court:** NCLT
- **Order date:** 11 Jan 2024
- **Citation:** TCN-2024-NCLT-03123
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-raju-petta-hanumantha-kashturi-reddy-983f3128

## Summary

### Background

This case involves a Company Petition filed by Bank of Baroda, the Financial Creditor, under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Insolvency Resolution Process against Smt. Raju Petta Hanumantha Kashturi Reddy, the Personal Guarantor, to Corporate Debtors. The Demand Notice was successfully delivered to the Personal Guarantor on 17.11.2021.

## Facts

Bank of Baroda, as the Financial Creditor, filed a Company Petition under Section 95(1) of the I&B Code, 2016, to initiate the Insolvency Resolution Process against Smt. Raju Petta Hanumantha Kashturi Reddy, the Personal Guarantor. The Demand Notice dated 15.11.2021 was successfully delivered to the Personal Guarantor on 17.11.2021. The Personal Guarantor neither responded nor paid the amount due and payable by the Corporate Debtor. A copy of the Petition along with notice was successfully delivered upon the Personal Guarantor on 31.05.2022 through e-mail. The Financial Creditor proposed Shri Ramratan Kanoongo as the Resolution Professional. The court appointed Shri Ramratan Kanoongo as the Resolution Professional. The interim-moratorium under Section 96(1)(a) of

…

## Issues and analysis

### Issue 1: Whether the requirements under Section 95 of the I&B Code, 2016, have been met to initiate the …

**Ratio:** Section 95 of the I&B Code, 2016, outlines the procedure for initiating insolvency

…

**Reasoning:** The court reasoned that the Demand Notice dated 15.11.2021 was successfully delivered to

…

**Interpretation:** Section 95 is interpreted to mean that upon successful delivery of the demand

…

**Application:** In this case, the demand notice was successfully delivered, and the guarantor

…

## Parties

- **Judges:** K. Bi…; Manoj Kumar…
- **Appellants:** Bank of B…
- **Respondents:** Raju Petta…

## Timeline

- **2021-11-15 — Demand Noti…**: Date of the Demand Notice…
- **2021-11-17 — Demand Notice…**: Demand Notice successfully…

## 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-raju-petta-hanumantha-kashturi-reddy-983f3128