# In the matter of State Bank of India Vs. Seema Dhingra, IB-753/ND/2022

> NCLT judgment dated 2022-12-21. Citation: TCN-2022-NCLT-00092. The State Bank of India filed an application under Section 95(1) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 21 Dec 2022
- **Citation:** TCN-2022-NCLT-00092
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-seema-dhingra-ib-753nd2022-d55c3f8b

## Summary

### Background

The State Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Insolvency Resolution (IR) process against Smt. Seema Dhingra, the Respondent. The Applicant had issued a demand notice to the Respondent, which was duly served. The Applicant had invoked the Bank Guarantee vide letter dated 24.09.2015.

## Facts

The State Bank of India (SBI) initiated proceedings against Smt. Seema Dhingra under Section 95(1) of the IBC, 2016. SBI sought to initiate the Insolvency Resolution (IR) process against Dhingra, who is the respondent in this case. SBI had issued a demand notice to Dhingra, which was duly served. SBI had invoked a Bank Guarantee via a letter dated 24.09.2015. Upon filing the application, an interim moratorium commenced by operation of law under Section 96(1)(a) of the IBC, concerning the debts of the Personal Guarantor. The court appointed Mr. Chanchal Dua as the Resolution Professional (RP).

## Issues and analysis

### Issue 1: Whether the application under Section 95(1) of the IBC, 2016, for initiating the Insolvency …

**Ratio:** Section 95(1) of the IBC, 2016, allows a creditor to apply for initiating the insolvency

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**Reasoning:** The court considered the application filed by the State Bank of India under Section 95(1)

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**Interpretation:** Section 95(1) provides a mechanism for creditors to initiate insolvency

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**Application:** The State Bank of India, as a creditor, applied under Section 95(1) to initiate

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## Parties

- **Judges:** Sh. Ashok Kumar…; SHRI. L. N.…
- **Appellants:** State Bank of…
- **Respondents:** Seema Dh…

## Timeline

- **2015-09-24 — Bank Guarantee…**: State Bank of India invoked the Bank…
- **2022-12-21 — Order Del…**: Order delivered by the National…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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