# In the matter of State Bank of India Vs. Hardeep Singh, IB-900/ND/2022

> NCLT judgment dated 2023-02-23. Citation: TCN-2023-NCLT-04479. The State Bank of India filed an application under Section 95 of the IBC, 2016, seeking to…

- **Court:** NCLT
- **Order date:** 23 Feb 2023
- **Citation:** TCN-2023-NCLT-04479
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-hardeep-singh-ib-900nd2022-eb1a11ee

## Summary

### Background

The State Bank of India filed an application under Section 95 of the IBC, 2016, seeking to initiate an insolvency resolution process against Sh. Hardeep Singh. The applicant also sought the appointment of a Resolution Professional (RP). The applicant stated that the guarantee in question was invoked via a letter dated 2016-12-19. The applicant also submitted that a demand notice was issued to the respondent and duly served.

## Facts

The State Bank of India filed an application under Section 95 of the IBC, 2016, to initiate an insolvency resolution process against Sh. Hardeep Singh, who is the personal guarantor. The bank had invoked the guarantee via a letter dated 2016-12-19 and served a demand notice to the guarantor. Upon filing the application, an interim moratorium commenced as per Section 96(1)(a) of the IBC. The court appointed Mr. Vivek Parti as the Resolution Professional to examine the application and make recommendations. The relevance of these facts is to determine whether the insolvency process should be initiated against the personal guarantor.

## Issues and analysis

### Issue 1: Whether the application under Section 95 of the IBC, 2016, should be admitted to initiate the …

**Ratio:** Section 95 of the IBC, 2016, allows a creditor to initiate the insolvency resolution

…

**Reasoning:** The court considered the application filed by the State Bank of India and the submissions

…

**Interpretation:** Section 95 provides a mechanism for creditors to pursue insolvency proceedings

…

**Application:** The court admitted the application, indicating that the prerequisites under

…

## Parties

- **Judges:** Sh. Ashok Kumar…; L. N. G…
- **Appellants:** State Bank of…
- **Respondents:** Sh. Hardeep…

## Timeline

- **2016-12-19 — Guarantee I…**: The guarantee in issue was invoked…
- **2023-02-23 — 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)

---

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-hardeep-singh-ib-900nd2022-eb1a11ee