# 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-02353. 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-02353
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/union-bank-of-india-vs-p-k-balasubramanian-cp-12961493

## 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 earlier application against the same personal guarantor had already been filed in CP/5/CHE/2022.

## Facts

Union Bank of India (Erstwhile Andhra Bank) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Insolvency Resolution Process against Mr. P.K. Balasubramanian, who is a personal guarantor. Previously, an application against Mr. Balasubramanian was filed under 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, 2016, stipulates that an interim moratorium commences upon filing an application under Section 95, preventing further applications against the same respondent.

## Issues and analysis

### Issue 1: Whether the application filed by Union Bank of India under Section 95 of IBC, 2016, against Mr. …

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

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**Reasoning:** The court reasoned that since an IRP had already been appointed based on a previous order

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

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**Application:** Given that an IRP was already appointed and an interim moratorium was in place

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## Parties

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

## Timeline

- **2022-06-07 — Order Appoint…**: An order was issued on 07.06.2022 appointing an Interim Resolution Professional (IRP)…
- **2022-06-07 — Hearing…**: The hearing was held on 07.06.2022 at…

## 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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