# In the matter of India Bank vs. Koppara Gul Hussain Sait

> NCLT judgment dated 2024-10-03. Citation: TCN-2024-NCLT-00497. Indian Bank filed a Company Petition for initiation of Insolvency Resolution Process against…

- **Court:** NCLT
- **Order date:** 3 Oct 2024
- **Citation:** TCN-2024-NCLT-00497
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/india-bank-vs-koppara-gul-hussain-sait-0f739abf

## Summary

### Background

Indian Bank filed a Company Petition for initiation of Insolvency Resolution Process against Koppara Gul Hussain Sait, the Personal Guarantor of M/s. LANDMARK MOTELS AND TRAVELS PVT. LTD. The Financial Creditor presented a copy of the deed of guarantee executed by the Personal Guarantor in their favor, dated 14.02.2019 and 25.11.2020, and a demand notice (Form-B) dated 07.11.2023, calling upon the Personal Guarantor to pay an outstanding amount of Rs. 34,64,23,853.20/- as on 30.09.2023.

## Facts

Indian Bank filed a Company Petition to initiate Insolvency Resolution Process against Koppara Gul Hussain Sait, who is the Personal Guarantor for M/s. LANDMARK MOTELS AND TRAVELS PVT. LTD. The Financial Creditor presented a deed of guarantee executed by Koppara Gul Hussain Sait in favor of Indian Bank, dated 14.02.2019 and 25.11.2020. A demand notice (Form-B) dated 07.11.2023 was issued to the Personal Guarantor, demanding payment of Rs. 34,64,23,853.20/- outstanding as of 30.09.2023. The relevance of these facts lies in establishing the existence of a debt and a personal guarantee, which are prerequisites for initiating insolvency proceedings against the guarantor.

## Issues and analysis

### Issue 1: Whether the petition for initiation of Insolvency Resolution Process against the Personal …

**Ratio:** Section 95(1) of the Insolvency and Bankruptcy Code, 2016 allows a creditor to initiate

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**Reasoning:** The court needs to determine if the conditions under Section 95(1) are met, including the

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**Interpretation:** Section 95(1) is interpreted to mean that if a personal guarantee exists and

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**Application:** The court applies the ratio to the facts by examining the deed of guarantee and

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## Parties

- **Judges:** ANIL RAJ C…; Kuldip Kumar…
- **Appellants:** Indian…
- **Respondents:** LANDMARK MOTELS…; Koppara Gul…

## Timeline

- **2019-02-14 — Deed of Guarantee…**: Personal Guarantor executed a deed of…
- **2020-11-25 — Deed of Guarantee…**: Personal Guarantor executed a deed of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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