# In the matter of State Bank of India vs. Paramatma Singh

> NCLT judgment dated 2022-06-22. Citation: TCN-2022-NCLT-02098. The document pertains to a Company Petition filed under the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 22 Jun 2022
- **Citation:** TCN-2022-NCLT-02098
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-paramatma-singh-5e4dfa42

## Summary

### Background

The document pertains to a Company Petition filed under the Insolvency and Bankruptcy Code (IBC). The Financial Creditor appeared via video conference and informed the court that the Personal Guarantor is no more, and accordingly, the application is to be abated.

## Facts

The State Bank of India filed a Company Petition (IB/262/2021) against Shri Paramatma Singh & Shivani Alloys Casting Ltd. The Financial Creditor's counsel informed the court that the Personal Guarantor had passed away, leading to the request for abatement of the application. The application was filed under Section 95 of the IBC.

## Issues and analysis

### Issue 1: Whether the application CP(IB)/262/2021 should be dismissed due to the death of the Personal …

**Ratio:** The death of a personal guarantor typically leads to the abatement of proceedings against

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**Reasoning:** The court accepted the submission of the Financial Creditor's counsel that the Personal

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**Interpretation:** The interpretation is that proceedings against a deceased individual cannot

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**Application:** Given the death of the Personal Guarantor, the ratio applies directly, leading

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## Parties

- **Judges:** P. Moha…; Veera Brahma Rao…
- **Appellants:** State Bank of…
- **Respondents:** Paramatma Singh &…

## Timeline

- **N/A — Company Petiti…**: Company Petition…
- **2022-06-22 — Hearing…**: Hearing held on…

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