# In the matter of State Bank of India Vs. Kamla Jain, CP (IB)-496(PB)/2022

> NCLT judgment dated 2022-08-10. Citation: TCN-2022-NCLT-01412. The State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 10 Aug 2022
- **Citation:** TCN-2022-NCLT-01412
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-kamla-jain-cp-26b175f9

## Summary

### Background

The State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate insolvency proceedings against the Personal Guarantor, Mrs. Kamla Jain. The application was filed before the National Company Law Tribunal (NCLT), New Delhi.

## Facts

The State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate insolvency proceedings against Mrs. Kamla Jain, the Personal Guarantor. A limited notice was issued on 04.08.2021. Mrs. Kamla Jain appeared through her counsel and did not object to the appointment of a Resolution Professional. The NCLT appointed Mr. Yogender Pal as the Resolution Professional for the Corporate Debtor, as per Section 97 of the IBC. The RP is required to file a report under Section 99 of the IBC within 10 days. The matter is listed for further consideration on 05.09.2022. The written consent of the RP and an affidavit stating no disciplinary proceedings are pending against him before IBBI or ICAI are available with the application.

## Issues and analysis

### Issue 1: Whether the application filed by State Bank of India under Section 95 of the IBC, 2016, for …

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

…

**Reasoning:** The court considered the application filed by the State Bank of India under Section 95 of

…

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

…

**Application:** The application was deemed maintainable as it was filed by a creditor (State

…

## Parties

- **Judges:** Ramalingam…; Sh. Avinash Kumar…
- **Appellants:** State Bank of…
- **Respondents:** Kamla…

## Timeline

- **2021-08-04 — Limited Notic…**: Limited notice was…
- **2022-08-10 — Order Del…**: Order delivered 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)

---

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-kamla-jain-cp-26b175f9