# In the matter of State Bank of India Vs. Azam Khan Abdul Razak, CP (IB)/337(CHE)/2021

> NCLT judgment dated 2022-06-20. Citation: TCN-2022-NCLT-02169. The case pertains to an application filed by State Bank of India under Section 95 of the…

- **Court:** NCLT
- **Order date:** 20 Jun 2022
- **Citation:** TCN-2022-NCLT-02169
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-azam-khan-abdul-razak-cp-0de57069

## Summary

### Background

The case pertains to an application filed by State Bank of India under Section 95 of the Insolvency and Bankruptcy Code, 2016, against the personal guarantor, Mr. Azam Khan Abdul Razak, of the Corporate Debtor, Galva India Private Limited. An application to initiate CIRP against Galva India Private Limited is already pending before the Adjudicating Authority.

## Facts

State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Azam Khan Abdul Razak, the personal guarantor of Galva India Private Limited, the Corporate Debtor. An application to initiate Corporate Insolvency Resolution Process (CIRP) against Galva India Private Limited is already pending. The date of default stated in the application is July 30, 2021. Agreements of Guarantee executed by the Personal Guarantor are placed in the typed set filed along with the application. A Demand Notice was issued under Rule 7(1) of the Insolvency and Bankruptcy Rules, 2019, to the Personal Guarantor on August 29, 2020. The application seeks to initiate proceedings against the Respondent under Section 95(1) of the IBC, 2016.

## Issues and analysis

### Issue 1: Whether the application filed by State Bank of India under Section 95 of the Insolvency and …

**Ratio:** The Adjudicating Authority must act on an application filed under Section 95 of IBC,

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**Reasoning:** The court relied on the NCLAT's decision in Mr.Ravi Ajit Kulkarni -Vs- State Bank of

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**Interpretation:** Section 95 of IBC mandates the Adjudicating Authority to consider applications

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**Application:** The court applied the ratio by acknowledging that the application filed by

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## Parties

- **Judges:** (Retd.) S.…; Anil Ku…
- **Appellants:** State Bank of…
- **Respondents:** Galva India…; Mr.Azam Khan…

## Timeline

- **2020-08-29 — Demand Notice…**: A Demand Notice was issued to the Personal Guarantor under Rule 7(1) of the Insolvency…
- **2021-07-30 — Date of D…**: The date of default as stated in…

## 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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