# 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-02364. 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-02364
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/union-bank-of-india-vs-p-k-balasubramanian-cp-2ebd3660

## 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 IBC, 2016, seeking to initiate the Insolvency Resolution Process against Mr. P.K. Balasubramanian, who is a personal guarantor. A previous application against Mr. Balasubramanian had already been filed in CP/5/CHE/2022. The court notes that an Interim Resolution Professional (IRP) had already been appointed under Section 97 of the IBC, 2016, in an order dated 07.06.2022. Section 96 of the IBC, 2016, states that upon filing an application under Section 95, an interim moratorium commences, preventing further applications against the same respondent in any forum.

## Issues and analysis

### Issue 1: Whether the application CP/IB/33/CHE/2022 filed by Union Bank of India against Mr. P.K. …

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

…

**Reasoning:** The court reasoned that since an IRP had already been appointed under Section 97 of the

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**Interpretation:** The interpretation of Section 96 and Section 97 of the IBC, 2016, suggests that

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

…

## Parties

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

## Timeline

- **2022-06-07 — IRP Appoi…**: An order was issued on this date appointing an Interim Resolution Professional (IRP)…
- **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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