# 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-02160. This case involves an application filed by State Bank of India under Section 95(1) of the…

- **Court:** NCLT
- **Order date:** 20 Jun 2022
- **Citation:** TCN-2022-NCLT-02160
- **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-82bc3f97

## Summary

### Background

This case involves an application filed by State Bank of India under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against the personal guarantor, Mr. Azam Khan Abdul Razak, of Galva India Private Limited, the Corporate Debtor. An application to initiate CIRP against the Corporate Debtor is pending before the Adjudicating Authority. The Agreements of Guarantee executed by the Personal Guarantor are placed in the typed set filed along with the application. A demand notice was issued to the Personal Guarantor on 29.08.2020.

## Facts

State Bank of India (SBI) filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016 against Mr. Azam Khan Abdul Razak, the personal guarantor of Galva India Private Limited, the Corporate Debtor. SBI is the Financial Creditor. The date of default stated in the application is 30.07.2021. Agreements of Guarantee executed by Mr. Razak are part of the application. A demand notice under Rule 7(1) of the Insolvency and Bankruptcy Rules was issued to Mr. Razak on 29.08.2020. An application to initiate Corporate Insolvency Resolution Process (CIRP) against Galva India Private Limited is pending before the Adjudicating Authority. The application seeks to initiate insolvency proceedings against the personal guarantor under Section 95(1) of the

…

## Issues and analysis

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

**Ratio:** The ratio is derived from previous judgments, including State Bank of India Vs. Mahendra

…

**Reasoning:** The court relied on the NCLAT's decisions, which held that the Adjudicating Authority can

…

**Interpretation:** Section 95 of the IBC is interpreted to allow for independent proceedings

…

**Application:** The court applied this ratio to the present case, stating that the application

…

## Parties

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

## Timeline

- **2020-08-29 — Demand Notice…**: Demand Notice issued under Rule 7(1) of the Insolvency and Bankruptcy Rules to the…
- **2021-07-30 — Date of D…**: The date of default as…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-azam-khan-abdul-razak-cp-82bc3f97