# 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-02363. 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-02363
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/union-bank-of-india-vs-p-k-balasubramanian-cp-c188c40e

## 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 CP(IB)/33(CHE)/2022 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. An earlier application, CP/5/CHE/2022, had already been filed against Mr. Balasubramanian. The order dated 07.06.2022 had already appointed an IRP under Section 97 of IBC, 2016. The bank's Stressed Asset Management Branch is located in Chennai. Mr. Balasubramanian resides in Chennai.

## Issues and analysis

### Issue 1: Whether the application CP(IB)/33(CHE)/2022 under Section 95 of the IBC, 2016, seeking the …

**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 earlier application against Mr. Balasubramanian was

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

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**Application:** The court applied the ratio to the facts of the case, noting that since an

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## Parties

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

## 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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