# In the matter of Indian Bank vs. Ram Pratap Radhakishna Tayal Personal Gaurantor of K-Lifestyle & industries Ltd.

> NCLT judgment dated 2024-01-19. Citation: TCN-2024-NCLT-02976. The case pertains to proceedings under Section 95 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 19 Jan 2024
- **Citation:** TCN-2024-NCLT-02976
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/indian-bank-vs-ram-pratap-radhakishna-tayal-personal-gaurantor-of-k-lifestyle-in-a7e33231

## Summary

### Background

The case pertains to proceedings under Section 95 of the Insolvency and Bankruptcy Code (IBC). The applicant, Indian Bank (formerly known as Allahabad Bank), filed an application through RP Anil Kashil Drolia against the respondent, Ram Pratap Radhakishna Tayal, who is the personal guarantor of K-Lifestyle & Industries Ltd. The application was found to be defective due to unrectified mistakes from a previous order.

## Facts

Indian Bank, formerly known as Allahabad Bank, filed an application under Section 95 of the IBC through its Resolution Professional (RP), Anil Kashil Drolia, against Ram Pratap Radhakishna Tayal, the personal guarantor of K-Lifestyle & Industries Ltd. The court observed that the mistakes pointed out in the previous order dated 2023-12-21 were not rectified by either the applicant or the RP. Furthermore, the RP was absent during the hearing despite being instructed to be present. Consequently, the court dismissed the application C.P.(IB)/191(AHM)2022 as defective, granting the applicant the liberty to file a fresh application. The registry was directed to provide a copy of the order to the IBBI for information. The failure to rectify the mistakes and the absence of

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## Issues and analysis

### Issue 1: Whether the application C.P.(IB)/191(AHM)2022 should be dismissed due to the failure to rectify the …

**Ratio:** An application can be dismissed if the applicant fails to rectify the defects or mistakes

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**Reasoning:** The court reasoned that the mistakes pointed out in the previous order dated 21.12.2023

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**Interpretation:** This interpretation emphasizes the importance of adhering to court orders and

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**Application:** In this case, the applicant's failure to rectify the mistakes pointed out in

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** Indian…
- **Respondents:** K-Lifestyle &…; Ram Pratap…

## Timeline

- **2023-12-21 — Previous…**: A previous order was issued pointing…
- **2024-01-19 — Order Del…**: The application C.P.(IB)/191(AHM)2022 was dismissed due to unrectified mistakes and the…

## 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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