# In the matter of Bank of Baroda vs. Sameer Somani

> NCLT judgment dated 2023-12-19. Citation: TCN-2023-NCLT-00128. The Bank of Baroda filed an application to initiate Insolvency Resolution Process against Mr.…

- **Court:** NCLT
- **Order date:** 19 Dec 2023
- **Citation:** TCN-2023-NCLT-00128
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-sameer-somani-de3efbe0

## Summary

### Background

The Bank of Baroda filed an application to initiate Insolvency Resolution Process against Mr. Sameer Somani, the personal guarantor of M/s Aditya Telelink Limited (Corporate Debtor), under Section 95 of the Insolvency and Bankruptcy Code, 2016. The Personal Guarantor had provided a personal guarantee for the loans availed by the Corporate Debtor. The Corporate Debtor defaulted on repayment, leading to the invocation of the personal guarantee.

## Facts

The Bank of Baroda ('Creditor'/'Applicant') filed an application to initiate Insolvency Resolution Process against Mr. Sameer Somani ('Personal Guarantor'/'Respondent') under Section 95 of the Insolvency and Bankruptcy Code, 2016. Mr. Somani was the personal guarantor for loans availed by M/s Aditya Telelink Limited ('Corporate Debtor'). The loan was sanctioned on 2010-06-12, including a Cash Credit of Rs. 12 crores and a Bank Guarantee of Rs. 3 crores, totaling Rs. 15 crores. The General Form of Guarantee was executed by Mr. Sameer Somani on 2010-06-12. The loan limit was enhanced to Rs. 18 crores on 2012-04-09. The loan account of the Corporate Debtor was classified as a Non-Performing Asset on 2016-09-28. A Recovery Certificate was issued by the Debt Recovery

…

## Issues and analysis

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

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

…

**Reasoning:** The court observed that the Personal Guarantor had defaulted in payment of dues within

…

**Interpretation:** Section 95 provides a mechanism for creditors to recover debts from personal

…

**Application:** The court applied the provisions of Section 95 to the facts of the case, noting

…

## Parties

- **Judges:** Deep Chandr…; RAJEEV ME…
- **Appellants:** Bank of B…
- **Respondents:** M/s Aditya…; SAMEER S…

## Timeline

- **2010-06-12 — Loan Sanc…**: Loan sanctioned to the Corporate Debtor, including Cash Credit of Rs. 12 crores and Bank…
- **2010-06-12 — General Form of…**: General Form of Guarantee…

## 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-sameer-somani-de3efbe0