# In the matter of Siemens Financial Services Private Limited vs. Raheem Rautther Meera, CP(IBC)/7/KOB/2023

> NCLT judgment dated 2023-06-30. Citation: TCN-2023-NCLT-05393. Siemens Financial Services Private Limited filed an application under Section 95(1) of the…

- **Court:** NCLT
- **Order date:** 30 Jun 2023
- **Citation:** TCN-2023-NCLT-05393
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/siemens-financial-services-private-limited-vs-raheem-rautther-meera-cp-0f482f70

## Summary

### Background

Siemens Financial Services Private Limited filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, against Mr. Raheem Rautther Meeran, the personal guarantor to M.S.S. Hospital and Nursing College Pvt. Ltd.

## Facts

Siemens Financial Services Private Limited provided credit facilities to M.S.S. Hospital and Nursing College Pvt. Ltd. amounting to Rs. 2,13,77,787.

Mr. Raheem Rautther Meeran acted as a personal guarantor for the credit facilities availed by M.S.S. Hospital and Nursing College Pvt. Ltd.

The corporate debtor defaulted on repayment of the credit facilities, which were declared as non-performing assets on 12.04.2019.

The applicant invoked the guarantee and sent a demand notice to the respondent on 09.08.2022 under section 13(2) of the SARFAESI Act, 2002.

A demand notice in Form B was served on the guarantor on 20.08.2022, demanding payment of Rs. 3,63,51,369 as on 20.07.2022.

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## Issues and analysis

### Issue 1: Whether the application filed under Section 95 of the Insolvency and Bankruptcy Code, 2016, is …

**Ratio:** Proceedings can be initiated against the personal guarantors regardless of whether a CIRP

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**Reasoning:** The Tribunal relied on the Supreme Court's decision to allow proceedings against personal

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**Interpretation:** The Supreme Court's ruling clarifies that the initiation of CIRP against the

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**Application:** The Tribunal applied the Supreme Court's ruling and held that the application

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## Parties

- **Judges:** P. Moha…; Satya Ranjan…
- **Appellants:** Siemens Financial…; Applicant C…
- **Respondents:** M.S.S. Hospital…; Raheem Rautther…
- **Other parties:** K. Parameshwaran…
- **Advocates:** Vinod…

## Timeline

- **2018-08-01 — Corporate Debtor's…**: Corporate debtor faced difficulties in…
- **2019-04-12 — NPA Decla…**: The credit facilities were…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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