# In the matter of Bank of Maharashtra Vs. Gali Niranjan, CP (IB)/43/95/HDB/2023

> NCLT judgment dated 2023-05-01. Citation: TCN-2023-NCLT-03550. This is an application filed by the Financial Creditor, Bank of Maharastra, against the…

- **Court:** NCLT
- **Order date:** 1 May 2023
- **Citation:** TCN-2023-NCLT-03550
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-maharashtra-vs-gali-niranjan-cp-c053d179

## Summary

### Background

This is an application filed by the Financial Creditor, Bank of Maharastra, against the Personal Guarantor, Mr. Gali Niranjan (Rex Contractors & Traders Pvt Ltd). The Tribunal ordered notice to the Personal Guarantor, which was duly served. However, the Personal Guarantor did not appear or contest the Petition, and was therefore set ex-parte.

## Facts

Bank of Maharastra filed an application against Mr. Gali Niranjan (Rex Contractors & Traders Pvt Ltd) under Section 95 of IBC, 2016, as the Personal Guarantor. Notice was served to the Personal Guarantor, but they did not appear or contest the petition. The Tribunal found sufficient grounds for admission of the application and appointed Shri Golla Rama Kanth Rao as the IRP. An interim moratorium was declared, and the matter was adjourned to 2023-05-29. The key fact is the non-appearance of the personal guarantor after being served notice, leading to an ex-parte decision.

## Issues and analysis

### Issue 1: Whether the application filed by the …

**Ratio:** The Tribunal has the power to admit an application if it is satisfied that the applicant

…

**Reasoning:** The Tribunal pursued the Petition and was satisfied that the Petitioner had made out the

…

**Interpretation:** The legal issue is whether the financial creditor has presented a valid case

…

**Application:** The Tribunal applied the ratio to the facts of the case, noting that the

…

## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** Bank of Mah…
- **Respondents:** Rex Contractors &…; Gali Nir…

## Timeline

- **2023-05-01 — Hearing…**: Attendance cum order sheet of the…
- **2023-05-01 — Order Is…**: Order issued admitting the application,…

## 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-maharashtra-vs-gali-niranjan-cp-c053d179