# In the matter of State Bank of India Vs. Falguniben Arpit Hathi, CP (IB)/230(AHM)/2022

> NCLT judgment dated 2022-08-29. Citation: TCN-2022-NCLT-01232. 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-01232
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-falguniben-arpit-hathi-cp-9930f9e2

## Summary

### Background

State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) seeking initiation of the Insolvency Resolution Process against the personal guarantor, Falguniben Arpit Hathi, of the Corporate Debtor. The application was filed before the National Company Law Tribunal (NCLT), Ahmedabad.

## Facts

State Bank of India filed an application under Section 95 of the IBC to initiate the Insolvency Resolution Process against Falguniben Arpit Hathi, the personal guarantor of the Corporate Debtor. The applicant requested the appointment of Mr. Sunil Kumar Kedia as the Resolution Professional. Mr. Kedia had no disciplinary proceedings pending against him. The application was filed before the NCLT Ahmedabad. The interim moratorium was to commence from 18.04.2022.

## 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 creditors to initiate insolvency resolution process against

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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 provides a mechanism for creditors to recover debts from personal

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**Application:** The application by State Bank of India against Falguniben Arpit Hathi, the

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## Parties

- **Judges:** DEEPTI M…; Ajai Das Me…
- **Appellants:** State Bank of…
- **Respondents:** Falguniben Arpit…
- **Advocates:** Biju…

## Timeline

- **2022-04-18 — Interim Moratorium…**: Interim Moratorium under Section 96 of the Code shall commence from 18.04.2022, the date…
- **2022-08-29 — Order Del…**: Order delivered on…

## 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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