# In the matter of State Bank of India vs. Sri Kalvakuntla Suhan Rao

> NCLT judgment dated 2025-11-11. Citation: TCN-2025-NCLT-01744. State Bank of India filed a petition under Section 95 of the IBC, seeking initiation of…

- **Court:** NCLT
- **Order date:** 11 Nov 2025
- **Citation:** TCN-2025-NCLT-01744
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/state-bank-of-india-vs-sri-kalvakuntla-suhan-rao-793f66d8

## Summary

### Background

State Bank of India filed a petition under Section 95 of the IBC, seeking initiation of Personal Insolvency Resolution Process (PIRP) against Sri Kalvakuntla Suhan Rao, the Personal Guarantor of M/s Pioneer Gas Power Limited, the Corporate Debtor.

## Facts

State Bank of India (Financial Creditor) filed a petition under Section 95 of the IBC against Sri Kalvakuntla Suhan Rao (Personal Guarantor) of M/s Pioneer Gas Power Limited (Corporate Debtor).

The Corporate Debtor availed various credit facilities from the Financial Creditor, including term loans and cash credit facilities.

The Corporate Debtor defaulted in repayment, leading to the account being classified as a Non-Performing Asset (NPA) on 28.06.2017.

The Corporate Debtor executed a revival/acknowledgment letter on 23.01.2019, admitting the debt.

The Financial Creditor issued a recall notice on 11.08.2021 to the Corporate Debtor and the Personal Guarantor, demanding repayment.

The Financial Creditor issued a demand notice to the Personal Guarantor on 04.11.2021.

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## Issues and analysis

### Issue 1: Whether the application under Section 95 of the IBC …

**Ratio:** The limitation period under Section 95 of the Code commences from the date of invocation

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**Reasoning:** The Financial Creditor invoked the personal guarantee through the Recall Notice dated

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**Interpretation:** The Adjudicating Authority interpreted Section 95 of the IBC and the Limitation

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**Application:** The Adjudicating Authority applied the above interpretation to the facts of the

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** State Bank of…; Narayan…
- **Respondents:** Pioneer Gas Power…; Kalvakuntla Suhan…
- **Other parties:** G. Madhusud…
- **Advocates:** Vazra L…; D. Gopala K…

## Timeline

- **2011-09-26 — Term Loa…**: Term Loan of Rs…
- **2015-03-31 — Term Loa…**: Term Loan of Rs…

## 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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