# In the matter of Bank of Baroda Vs. Ratna Singh, CP (IB) No. 191(ND)/2022

> NCLT judgment dated 2022-06-03. Citation: TCN-2022-NCLT-02430. Bank of Baroda filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 3 Jun 2022
- **Citation:** TCN-2022-NCLT-02430
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-ratna-singh-cp-6badd84b

## Summary

### Background

Bank of Baroda filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process against Ratna Singh, the Guarantor of M/s Theme Export Private Limited (Corporate Debtor).

## Facts

Bank of Baroda filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process against Mrs. Ratna Singh, who is the Guarantor of M/s Theme Export Private Limited (Corporate Debtor). A limited notice was served upon the Guarantor vide order dated 23.03.2022. Upon filing the application, an interim-moratorium commenced as stipulated under Section 96 (1) (a) in relation to all the debts of the personal guarantor. The court appointed Mr. Sandeep Kumar Bhatt as the Resolution Professional.

## Issues and analysis

### Issue 1: Whether the application filed by Bank of Baroda under Section 95 of the Insolvency & Bankruptcy …

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

…

**Reasoning:** The court considered the application filed by Bank of Baroda under Section 95 of the IBC,

…

**Interpretation:** Section 95 provides a mechanism for creditors to pursue insolvency proceedings

…

**Application:** The application was deemed maintainable as it was filed by a creditor, Bank of

…

## Parties

- **Judges:** ABNI RANJAN KUMAR…; HEMANT KUMAR…
- **Appellants:** Bank of B…
- **Respondents:** Theme Export…; Ratna S…

## Timeline

- **2022-03-23 — Limited Notic…**: Limited notice was served upon the…
- **2022-06-03 — Order Del…**: Order delivered on…

## 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-ratna-singh-cp-6badd84b