# In the matter of Union Bank of India Vs. P K Balasubramanian, CP (IB)/33/CHE/2022

> NCLT judgment dated 2022-06-07. Citation: TCN-2022-NCLT-02346. The case involves an application filed by Union Bank of India (Erstwhile Andhra Bank) under…

- **Court:** NCLT
- **Order date:** 7 Jun 2022
- **Citation:** TCN-2022-NCLT-02346
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/union-bank-of-india-vs-p-k-balasubramanian-cp-05120813

## Summary

### Background

The case involves an application filed by Union Bank of India (Erstwhile Andhra Bank) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of the Insolvency Resolution Process against Mr. P.K. Balasubramanian, a personal guarantor. An application against the personal guarantor was already filed in CP/5/CHE/2022.

## Facts

Union Bank of India (Erstwhile Andhra Bank) filed an application under Section 95 of the IBC, 2016, seeking the initiation of the Insolvency Resolution Process against Mr. P.K. Balasubramanian, who is a personal guarantor. The bank had previously filed an application against Mr. Balasubramanian in CP/5/CHE/2022. The court had already appointed an Interim Resolution Professional (IRP) under Section 97 of the IBC, 2016, via an order dated 07.06.2022. Section 96 of the IBC stipulates that an interim moratorium commences upon the filing of an application under Section 95, preventing further applications against the same respondent.

## Issues and analysis

### Issue 1: Whether the present application under Section 95 of IBC, 2016, is maintainable against Mr. P.K. …

**Ratio:** Section 96 of the IBC, 2016, provides that upon filing an application under Section 95,

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**Reasoning:** The court reasoned that since an IRP had already been appointed in a previous application

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**Interpretation:** Section 96 is interpreted to mean that once an application under Section 95 is

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**Application:** The court applied the ratio of Section 96 to the facts of the case, noting that

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## Parties

- **Judges:** Ramalingam…; Shri. Samee…
- **Appellants:** Union Bank of…
- **Respondents:** P.K Balasubramania…
- **Advocates:** N. Somas…; Srini…

## Timeline

- **2022-06-07 — Order Da…**: Order dated 07.06.2022 already appointed…
- **2022-06-07 — Hearing…**: Hearing held on 07.06.2022 at 10.30…

## 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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