# In the matter of State Bank of India Vs. Neeraj Saluja, CP (IB) No. 242/Chd/Pb/2021

> NCLT judgment dated 2022-10-06. Citation: TCN-2022-NCLT-00837. The case pertains to CP (IB) No. 242/Chd/Pb/2021 under Section 95 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 6 Oct 2022
- **Citation:** TCN-2022-NCLT-00837
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-neeraj-saluja-cp-a2be2ade

## Summary

### Background

The case pertains to CP (IB) No. 242/Chd/Pb/2021 under Section 95 of the Insolvency and Bankruptcy Code, 2016. State Bank of India is the petitioner (financial creditor) and Neeraj Saluja is the respondent (personal guarantor). The matter is being conducted through video conferencing.

## Facts

State Bank of India filed a petition against Neeraj Saluja under Section 95 of the Insolvency and Bankruptcy Code, 2016. The respondent, Neeraj Saluja, is a personal guarantor. Mr. Mohit Chawla has been appointed as the Resolution Professional. The respondent's counsel stated that the debt has already been settled in the CIRP process and intends to file an objection to the maintainability of the petition. The court has found no adverse remarks against the appointed IRP.

## Issues and analysis

### Issue 1: Whether a limited notice should be issued …

**Ratio:** Issuance of notice is a standard procedure to ensure that all parties are informed and

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**Reasoning:** The court deemed it necessary to issue a limited notice to the respondent-personal

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**Interpretation:** The issuance of notice is interpreted as a procedural requirement to uphold the

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**Application:** The court applied this principle by directing the issuance of a limited notice

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** State Bank of…
- **Respondents:** Neeraj S…

## Timeline

- **2022-10-06 — Order Da…**: Order issued regarding the appointment of Resolution Professional and issuance of notice…
- **2022-12-02 — Next Hearin…**: The matter is listed…

## 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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