# In the matter of SIDBI vs. Anny Johnson

> NCLT judgment dated 2024-02-16. Citation: TCN-2024-NCLT-02552. The case involves an application filed by Small Industries Development Bank of India (SIDBI)…

- **Court:** NCLT
- **Order date:** 16 Feb 2024
- **Citation:** TCN-2024-NCLT-02552
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sidbi-vs-anny-johnson-03b9c0e2

## Summary

### Background

The case involves an application filed by Small Industries Development Bank of India (SIDBI) under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against the personal guarantor, Smt. Anny Johnson, of M/s. St John Freight systems Limited. CIRP was initiated against the Corporate Debtor vide an order dated 10.12.2018.

## Facts

Small Industries Development Bank of India (SIDBI) filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against the personal guarantor, Smt. Anny Johnson, of M/s. St John Freight systems Limited. M/s. St John Freight systems Limited had taken credit facilities from SIDBI, and Smt. Anny Johnson had given a personal guarantee for the loan. The Corporate Debtor failed to repay the debt, leading SIDBI to initiate CIRP against the Corporate Debtor. The amount of debt and default is Rs.16,36,01,727/-, with the date of default being 09.06.2015. The Corporate Debtor is under liquidation before Court – II of the Tribunal. A demand notice was issued to the Personal Guarantor on 01.06.2022.

## Issues and analysis

### Issue 1: Whether the application filed by SIDBI under Section 95(1) of the Insolvency and Bankruptcy Code, …

**Ratio:** Section 95 of the IBC provides that a creditor may apply either by himself, or jointly

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**Reasoning:** The court considered Section 95 of the IBC, which allows a creditor to apply for

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**Interpretation:** Section 95 of the IBC allows a creditor to initiate the Insolvency Resolution

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**Application:** SIDBI, being a creditor, has the right to file an application under Section

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## Parties

- **Judges:** Shri. JYOTI KUMAR…; SHRI. RAVICHANDRAN…
- **Appellants:** Small Industries…
- **Respondents:** M/s. St. John…; Smt ANNY J…
- **Advocates:** Shiva K…; Sure…; +1 more

## Timeline

- **2018-12-10 — CIRP Init…**: CIRP was initiated against the Corporate…
- **2015-06-09 — Date of D…**: The date of default is…

## 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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