# In the matter of State Bank of India Vs. R V Tyagarajan, CP (IB) No. 275 (Che)/2021

> NCLT judgment dated 2022-02-18. Citation: TCN-2022-NCLT-04066. The case pertains to an application filed under Section 95(1) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 18 Feb 2022
- **Citation:** TCN-2022-NCLT-04066
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-r-v-tyagarajan-cp-69c6da1c

## Summary

### Background

The case pertains to an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mr. R V Tyagarajan, the personal guarantor of M/s. Thiru Arooran Sugars Limited, a Corporate Debtor undergoing liquidation. An order for the liquidation of Thiru Arooran Sugars Limited was previously passed by the Adjudicating Authority on 08.04.2021 in IA/1186/IB/2020.

## Facts

The State Bank of India, represented by its Assistant General Manager, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mr. R V Tyagarajan, the personal guarantor of M/s. Thiru Arooran Sugars Limited. Thiru Arooran Sugars Limited, the Corporate Debtor, is under liquidation, with a liquidation order passed on 08.04.2021. The date of default is stated as 05.12.2018. Demand Notice was issued to the Personal Guarantor on 31.10.2020. The application seeks to initiate insolvency resolution proceedings against the personal guarantor. The Agreements of Guarantee executed by the Personal Guarantor are placed between page Nos. 102-147 as Annexures A1(9)- A1 (12).

## Issues and analysis

### Issue 1: Whether the application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, …

**Ratio:** Section 95(1) of the Insolvency and Bankruptcy Code, 2016 allows a creditor to file an

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

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**Interpretation:** Section 95(1) provides a mechanism for creditors to recover their dues from

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**Application:** The court applied Section 95(1) to the facts of the case, noting that the

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## Parties

- **Judges:** (Retd.) S.…; Anil Ku…
- **Appellants:** State Bank of…
- **Respondents:** Thiru Arooran…; R V TYAGA…

## Timeline

- **2018-12-05 — Date of D…**: The date of default as stated in…
- **2020-10-31 — Demand Notice…**: Demand Notice issued under Rule 7(1) of the Insolvency and Bankruptcy Rules, 2019 to 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)

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