# In the matter of State Bank of India vs. Surender Kumar Gupta

> NCLT judgment dated 2024-10-24. Citation: TCN-2024-NCLT-00362. The case involves an application (IA/5042/2024) for taking on record the RP's (Resolution…

- **Court:** NCLT
- **Order date:** 24 Oct 2024
- **Citation:** TCN-2024-NCLT-00362
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-surender-kumar-gupta-f618c91a

## Summary

### Background

The case involves an application (IA/5042/2024) for taking on record the RP's (Resolution Professional) report in a matter under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. The RP's report has been furnished to the Personal Guarantor. The court notes a significant delay of 625 days in the report's filing, despite the RP being informed of the assignment on 2024-06-12, while the appointment order was dated 2023-01-04. The court expresses concern over this delay and its potential impact on the case.

## Facts

The State Bank of India (SBI) filed a case under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Surender Kumar Gupta. An RP was appointed, and the RP's report was filed with a delay of 625 days. The RP claims to have been informed of the appointment on 2024-06-12, while the appointment order was dated 2023-01-04. The SBI, as the petitioner, allegedly failed to inform the RP about the appointment. The NCLT Registry also failed to communicate the appointment order. The court views the delay as extremely unfortunate and potentially fatal to the case.

## Issues and analysis

### Issue 1: Whether the delay of 625 days in …

**Ratio:** Timely completion of insolvency resolution processes is crucial for the effectiveness of

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**Reasoning:** The court expresses concern that the delay of 625 days is excessive and potentially

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**Interpretation:** The court interprets the provisions of the IBC to require timely action by all

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**Application:** The court applies the principle of timely resolution to the specific facts of

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** State Bank of…
- **Respondents:** Surender Kumar…

## Timeline

- **2023-01-04 — Appointment Or…**: Date of the appointment order for…
- **2024-06-12 — RP Informed of…**: Date on which the RP claims to have…

## 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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