# In the matter of Indian Bank Vs. Arun Singh @ Arun Kumar, CP (IB)/95/ND/2023

> NCLT judgment dated 2023-05-17. Citation: TCN-2023-NCLT-03319. The Indian Bank filed an application under Section 95 of the IBC, 2016, against Sh. Arun Singh,…

- **Court:** NCLT
- **Order date:** 17 May 2023
- **Citation:** TCN-2023-NCLT-03319
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/indian-bank-vs-arun-singh-arun-kumar-cp-3726d490

## Summary

### Background

The Indian Bank filed an application under Section 95 of the IBC, 2016, against Sh. Arun Singh, a personal guarantor to a corporate debtor, seeking to initiate the insolvency resolution process and appoint a Resolution Professional.

## Facts

Indian Bank, the applicant, filed an application against Sh. Arun Singh, a personal guarantor to a corporate debtor, under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application sought to initiate the insolvency resolution process (IR process) against the personal guarantor and requested the appointment of a Resolution Professional (RP). The applicant confirmed that a copy of the Demand Notice, dated April 30, 2022, had been duly served on the respondent, Sh. Arun Singh. Upon the filing of this application, an interim moratorium automatically commenced in relation to all debts of the personal guarantor, as stipulated under Section 96(1)(a) of the IBC. This provision ensures that legal proceedings and actions against the personal guarantor are

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## Issues and analysis

### Issue 1: Whether an interim moratorium commences automatically upon the filing of an application under …

**Ratio:** An interim moratorium commences automatically in relation to all debts of the Personal

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**Reasoning:** The Tribunal noted that as per the provision of the Law, specifically Section 96(1)(a) of

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**Interpretation:** Section 96(1)(a) of the IBC is interpreted to mean that the act of filing the

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**Application:** In this case, upon the Indian Bank filing the application against Sh. Arun

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## Parties

- **Judges:** SHRI. ASHOK KUMAR…; SHRI. L. N.…; +2 more
- **Appellants:** Indian…
- **Respondents:** Sh. Arun Singh @…
- **Advocates:** Tarun Agg…; For the Applicant:…

## Timeline

- **April 30, 2022 — Demand Notice…**: The applicant, Indian Bank, served a copy of the Demand Notice on the respondent, Sh.…
- **May 17, 2023 — Order Del…**: The National Company Law Tribunal, New Delhi…

## 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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