# In the matter of State Bank of India vs.  Shaik Ali Saheb & Chadalvada Infratech Ltd.

> NCLT judgment dated 2023-03-13. Citation: TCN-2023-NCLT-04269. The case involves an application filed by the Resolution Professional (RP) stating that they…

- **Court:** NCLT
- **Order date:** 13 Mar 2023
- **Citation:** TCN-2023-NCLT-04269
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-shaik-ali-saheb-chadalvada-infratech-ltd-02bcaa04

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) stating that they have not received any repayment plan from the guarantor. The financial creditor served notice to the personal guarantor before filing the application. The RP provided opportunity to the personal guarantor to submit a repayment plan, but no plan was submitted.

## Facts

The Resolution Professional (RP) filed an application because they did not receive a repayment plan from the guarantor. The financial creditor had served notice to the personal guarantor before the application was filed. The RP provided the personal guarantor with an opportunity to submit a repayment plan. However, the personal guarantor did not submit any repayment plan. The absence of a repayment plan made the resolution of insolvency of the personal guarantor impossible.

## Issues and analysis

### Issue 1: Whether the application should be allowed given the personal guarantor's failure to submit a …

**Ratio:** The resolution of insolvency of a personal guarantor is not possible in the absence of a

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**Reasoning:** The court reasoned that without a repayment plan, the insolvency resolution process

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**Interpretation:** This highlights the importance of the personal guarantor's cooperation in the

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**Application:** Since the personal guarantor did not submit a repayment plan despite being

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** State Bank of…
- **Respondents:** Shaik Ali Saheb &…
- **Advocates:** Maligi Madhusudhan…

## Timeline

- **2023-03-13 — Hearing…**: Attendance cum order sheet of 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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