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

> NCLT judgment dated 2024-01-11. Citation: TCN-2024-NCLT-03112. This is a Company Petition filed by Bank of Baroda under Section 95(1) of the I&B Code, 2016,…

- **Court:** NCLT
- **Order date:** 11 Jan 2024
- **Citation:** TCN-2024-NCLT-03112
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-raju-petta-hanumantha-kashturi-reddy-a8ac76a3

## Summary

### Background

This is a Company Petition filed by Bank of Baroda under Section 95(1) of the I&B Code, 2016, seeking to initiate Insolvency Resolution Process against Smt. Raju Petta Hanumantha Kashturi Reddy, the Personal Guarantor. The Demand Notice dated 15.11.2021 was successfully delivered upon the Personal Guarantor on 17.11.2021. A copy of the Petition along with notice was successfully delivered upon the Personal Guarantor on 31.05.2022 through e-mail.

## Facts

Bank of Baroda 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, who is the Personal Guarantor. The Demand Notice dated 15.11.2021 was successfully delivered to the Personal Guarantor on 17.11.2021. The Petition along with notice was delivered to the Personal Guarantor on 31.05.2022 via email. The Personal Guarantor did not respond to the demand notice or pay the amount due. The Financial Creditor proposed Shri Ramratan Kanoongo as the Resolution Professional. The relevance of these facts lies in establishing that the necessary procedures for initiating the Insolvency Resolution Process against the Personal Guarantor have been followed as per the I&B Code.

## Issues and analysis

### Issue 1: Whether the requirements under Section 95 of the I&B Code, 2016, for initiating the Insolvency …

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

…

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

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**Interpretation:** Section 95 requires proper notification to the personal guarantor before

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**Application:** In this case, the successful delivery of the demand notice and petition to Smt.

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## Parties

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

## Timeline

- **2021-11-15 — Demand Noti…**: Demand Notice was issued to…
- **2021-11-17 — Demand Notice…**: Demand Notice was 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)

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