# In the matter of State Bank of India Vs. Anuradha Mehndiratta, CP (IB)/324/(PB)/2021

> NCLT judgment dated 2022-04-19. Citation: TCN-2022-NCLT-03209. The case pertains to an application filed by State Bank of India under Section 95 of the…

- **Court:** NCLT
- **Order date:** 19 Apr 2022
- **Citation:** TCN-2022-NCLT-03209
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-anuradha-mehndiratta-cp-9548c1d1

## Summary

### Background

The case pertains to an application filed by State Bank of India under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, to initiate the Insolvency Resolution Process against the personal guarantor, Mrs. Anuradha Mehndiratta, of the corporate debtor, M/s Mastana Foods Private Limited. The corporate debtor had availed credit facilities totaling Rs. 249.85 crore plus warehouse receipt financing of Rs. 25 crore. The account was declared NPA on 13.09.2017, and a notice under the SARFAESI Act was issued. The Corporate Insolvency Resolution Process (CIRP) was initiated against the

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## Facts

State Bank of India (SBI) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Insolvency Resolution Process (IRP) against Mrs. Anuradha Mehndiratta, the personal guarantor of M/s Mastana Foods Private Limited. M/s Mastana Foods Private Limited availed credit facilities totaling Rs. 249.85 crore plus warehouse receipt financing of Rs. 25 crore. SBI declared the account of the Corporate Debtor as Non-Performing Asset (NPA) on 13.09.2017 and issued a notice under the SARFAESI Act. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 18.09.2019. SBI also filed an Original Application against the Corporate Debtor and all the Guarantors, including Mrs. Anuradha Mehndiratta,

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## Issues and analysis

### Issue 1: Whether the application under Section 95 of the Insolvency and Bankruptcy Code, 2016, for …

**Ratio:** Section 100 of the Insolvency and Bankruptcy Code, 2016, provides for the admission of an

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**Reasoning:** The Adjudicating Authority considered the report submitted by the Resolution

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**Interpretation:** Section 100 of the IBC is interpreted to mean that if the Adjudicating

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**Application:** In this case, the Adjudicating Authority was satisfied that a debt was owed by

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## Parties

- **Judges:** Ramalingam…; AVINASH K.…
- **Appellants:** State Bank of…
- **Respondents:** M/s Mastana Foods…; ANURADHA MEHNDIRAT…
- **Advocates:** S. K. S…; Manoj Kumar…; +1 more

## Timeline

- **2017-09-13 — Account decla…**: The account of the Corporate Debtor, M/s Mastana Foods Private Limited, was declared NPA…
- **2019-09-18 — CIRP initiated against…**: Corporate Insolvency Resolution Process was initiated against the Corporate Debtor 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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