# In the matter of State Bank of India Vs. Anopsingh Kiritsinh Sarvaiya, CP (IB)/236(AHM)/2022

> NCLT judgment dated 2022-08-29. Citation: TCN-2022-NCLT-01233. State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 29 Aug 2022
- **Citation:** TCN-2022-NCLT-01233
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-anopsingh-kiritsinh-sarvaiya-cp-8054cdea

## Summary

### Background

State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) seeking the initiation of the Insolvency Resolution Process against the personal guarantor of the Corporate Debtor, Anopsingh Kiritsinh Sarvaiya. The court issued a notice regarding the application.

## Facts

State Bank of India (SBI) filed an application under Section 95 of the IBC to initiate the Insolvency Resolution Process against Anopsingh Kiritsinh Sarvaiya, who is the personal guarantor of a Corporate Debtor. The application included a request to appoint Vikash Gautamchand Jain as the Resolution Professional (RP). The application also contained a declaration stating that there were no disciplinary proceedings pending against the proposed RP. The court considered the application and the request for appointment of the RP. The interim moratorium under Section 96 was to commence from 2022-04-12.

## Issues and analysis

### Issue 1: Whether the application filed by State Bank of India under Section 95 of the IBC for initiating the …

**Ratio:** Section 95 of the IBC allows a creditor to apply for initiating the insolvency resolution

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**Reasoning:** The court considered the application filed by State Bank of India under Section 95 of the

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**Interpretation:** Section 95 of the IBC is interpreted to allow creditors to pursue insolvency

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**Application:** The application by State Bank of India, being a creditor, against Anopsingh

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## Parties

- **Judges:** Dr.Deepti…; Ajai Das Me…
- **Appellants:** State Bank of…
- **Respondents:** Anopsingh…

## Timeline

- **2022-04-12 — Interim Moratorium…**: Interim Moratorium under Section 96 of the Code shall commence from this date, the date…
- **2022-08-29 — Order Del…**: Order delivered by 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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