# In the matter of State Bank of India vs. Savita Lohariwal

> NCLT judgment dated 2025-01-06. Citation: TCN-2025-NCLT-00679. The case involves an application under Section 112 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 6 Jan 2025
- **Citation:** TCN-2025-NCLT-00679
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-savita-lohariwal-191cc00b

## Summary

### Background

The case involves an application under Section 112 of the Insolvency and Bankruptcy Code, 2016, filed by the Resolution Professional (RP) seeking to record the report of the creditors' meeting regarding the repayment plan of the Personal Guarantor, Savita Lohariwal. State Bank of India (SBI), the Financial Creditor, had initiated insolvency proceedings against the Personal Guarantor under Section 95 of the IBC, 2016, due to her being a guarantor for Hanumanta Engineering Pvt Ltd., which is under liquidation. The RP submitted a report recommending the admission of the application, and the Tribunal admitted the Personal Guarantor into insolvency. The Personal Guarantor submitted a repayment plan proposing a repayment of Rs. 1 lakh, which SBI rejected, deeming it

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## Facts

On September 28, 2021, State Bank of India (SBI), the Financial Creditor, initiated insolvency proceedings against Savita Lohariwal, the Personal Guarantor, under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. Savita Lohariwal acted as the personal guarantor for Hanumanta Engineering Pvt Ltd., the principal borrower, which is currently under liquidation. Daulat Ram Jain was appointed as the Resolution Professional (RP) on May 09, 2022. The RP submitted a report on May 20, 2022, recommending the admission of the application. The Tribunal admitted the Personal Guarantor into insolvency on July 08, 2024. A public notice was issued on July 09, 2024, inviting claims from creditors. SBI submitted a claim with 100% voting rights. The Personal Guarantor

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## Issues and analysis

### Issue 1: Whether the repayment plan submitted by the Personal Guarantor is acceptable given the outstanding …

**Ratio:** The ratio is based on the principle that a repayment plan must adequately address the

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**Reasoning:** The court reasoned that the Financial Creditor, SBI, rightfully rejected the repayment

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**Interpretation:** This issue involves interpreting the adequacy of a repayment plan in the

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**Application:** In this case, the ratio and reasoning were applied to the specific facts where

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## Parties

- **Judges:** BIDISHA BA…; D. Ar…
- **Respondents:** Hanumanta…

## Timeline

- **2021-09-28 — Application…**: State Bank of India filed an application under Section 95 of the IBC against Savita…
- **2022-05-09 — RP Appoi…**: Daulat Ram Jain was appointed as…

## 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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