# In the matter of State Bank of India vs. Rohit S Sharma

> NCLT judgment dated 2023-12-22. Citation: TCN-2023-NCLT-00061. The application was filed under Section 95 of the IB Code, 2016 for initiation of Insolvency…

- **Court:** NCLT
- **Order date:** 22 Dec 2023
- **Citation:** TCN-2023-NCLT-00061
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-rohit-s-sharma-719796d1

## Summary

### Background

The application was filed under Section 95 of the IB Code, 2016 for initiation of Insolvency Resolution Process against the Respondent/Personal Guarantor. Mr. Sunil Kumar Kedia was appointed as IRP by the Tribunal and submitted a report under Section 99 of the IB Code, 2016. An advance copy of the report was served on the respondent/guarantor on 27.12.2021.

## Facts

State Bank of India filed an application under Section 95 of the IB Code, 2016, for the initiation of the Insolvency Resolution Process against Rohit S Sharma, the Respondent/Personal Guarantor. Mr. Sunil Kumar Kedia was appointed as the IRP and submitted a report under Section 99 of the IB Code, 2016. The respondent/guarantor filed a reply to the application, and the applicant/financial creditor filed a rejoinder. The Tribunal heard the counsels for both parties and perused the IRP report. The order was reserved.

## Issues and analysis

### Issue 1: Whether to initiate the Insolvency Resolution Process against the Respondent/Personal Guarantor …

**Ratio:** Section 95 of the IB Code, 2016, allows for the initiation of the Insolvency Resolution

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**Reasoning:** The Tribunal considered the application filed under Section 95, the IRP's report

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

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**Application:** The Tribunal is evaluating whether the facts presented in the application, the

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** State Bank of…
- **Respondents:** Rohit S S…

## Timeline

- **2021-12-15 — IRP Appoi…**: Mr. Sunil Kumar Kedia…
- **2021-12-27 — Report S…**: Advance copy of the IRP report was…

## 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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