# In the matter of UCO Bank Vs. Vinod Kumar Mittal,
CP (IB) No. 24(KB)2021

> NCLT judgment dated 2022-06-27. Citation: TCN-2022-NCLT-02031. The case pertains to an application filed by UCO Bank under Section 95(1) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 27 Jun 2022
- **Citation:** TCN-2022-NCLT-02031
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/uco-bank-vs-vinod-kumar-mittal-cp-ib-no-24kb2021-184157f9

## Summary

### Background

The case pertains to an application filed by UCO Bank under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Mr. Vinod Kumar Mittal, the personal guarantor of Gontermann-Pipers (India) Limited (GPIL), for credit facilities extended by UCO Bank to GPIL. The Adjudicating Authority appointed Mr. Partha Kamal Sen as the Resolution Professional.

## Facts

UCO Bank filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Mr. Vinod Kumar Mittal, who is the personal guarantor of Gontermann-Pipers (India) Limited (GPIL). GPIL had received credit facilities from UCO Bank. Mr. Mittal defaulted on payments, leading UCO Bank to file the application. The Adjudicating Authority appointed Mr. Partha Kamal Sen as the Resolution Professional, who submitted a report recommending the admission of the application. The Resolution Professional's report indicated that Mr. Mittal had defaulted on payments and that the application satisfied the requirements under Section 95(1) of the IBC, 2016. The Adjudicating Authority considered the report and admitted the

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## Issues and analysis

### Issue 1: Whether the application filed by UCO Bank under Section 95(1) of the Insolvency and Bankruptcy …

**Ratio:** The legal principle applied is that an application under Section 95(1) of the IBC, 2016,

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**Reasoning:** The court reasoned that the Resolution Professional's report confirmed that Mr. Vinod

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**Interpretation:** Section 95(1) of the IBC, 2016, allows a creditor to file an application for

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**Application:** In this case, the Resolution Professional's report provided the necessary

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## Parties

- **Judges:** Rohit K…; Harish Chander…; +1 more
- **Appellants:** UCO B…
- **Respondents:** Gontermann-Pipers…; Vinod Kumar…

## Timeline

- **2021-09-23 — Appointment of…**: Mr. Partha Kamal Sen was appointed as the Resolution Professional by the Adjudicating…
- **2022-05-11 — Order Res…**: The order was reserved…

## 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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