# In the matter of State Bank of India Vs. Urvi Utkarsh Hathi, CP (IB)/232(AHM)/2022

> NCLT judgment dated 2022-08-29. Citation: TCN-2022-NCLT-01231. State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 29 Aug 2022
- **Citation:** TCN-2022-NCLT-01231
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-urvi-utkarsh-hathi-cp-3a15eb34

## Summary

### Background

State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) seeking the initiation of the Insolvency Resolution Process against the personal guarantor of the Corporate Debtor, Urvi Utkarsh Hathi. The application was filed before the National Company Law Tribunal (NCLT), Ahmedabad.

## Facts

State Bank of India filed an application under Section 95 of the IBC to initiate the Insolvency Resolution Process against Urvi Utkarsh Hathi, the personal guarantor of a Corporate Debtor. The applicant requested the appointment of Mr. Sunil Kumar Kedia as the Resolution Professional. The application included a declaration stating that no disciplinary proceedings were pending against the proposed RP. The date of application was April 18, 2022. The court then appointed Mr. Sunil Kumar Kedia as the RP and ordered an interim moratorium under Section 96 of the Code to commence from the date of application.

## Issues and analysis

### Issue 1: Whether the application filed by State Bank of India under Section 95 of the IBC for initiating the …

**Ratio:** Section 95 of the IBC allows creditors to initiate insolvency resolution processes

…

**Reasoning:** The court considered the application filed under Section 95 of the IBC. The application

…

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

…

**Application:** The application was filed by State Bank of India, a creditor, against Urvi

…

## Parties

- **Judges:** DEEPTI M…; Ajai Das Me…
- **Appellants:** State Bank of…
- **Respondents:** Urvi Utkars…

## Timeline

- **2022-04-18 — Date of Appl…**: Interim Moratorium under Section 96 of the Code shall commence from 18.04.2022, the date…
- **2022-08-29 — Order Del…**: Order delivered on…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-urvi-utkarsh-hathi-cp-3a15eb34