# In the matter of Punjab National Bank vs. Anindita Mukherjee

> NCLT judgment dated 2026-01-13. Citation: TCN-2026-NCLT-00015. Punjab National Bank filed C.P.(IB)/238/KB/2024 under Section 95(1) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 13 Jan 2026
- **Citation:** TCN-2026-NCLT-00015
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/punjab-national-bank-vs-anindita-mukherjee-1472033f

## Summary

### Background

Punjab National Bank filed C.P.(IB)/238/KB/2024 under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Insolvency Resolution Process against Mrs. Anindita Mukherjee, a personal guarantor to the Corporate Debtor, M/s Purulia Metal Casting Private Limited, under Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019.

## Facts

Punjab National Bank filed an application to initiate Insolvency Resolution Process against Mrs. Anindita Mukherjee, a personal guarantor to M/s Purulia Metal Casting Pvt. Ltd.

Mrs. Anindita Mukherjee executed several Deeds of Guarantee on various dates to avail credit line facilities for M/s Purulia Metal Casting Private Limited.

The amount in debt is Rs. 75,32,16,880.52 inclusive of all interest calculated as on 31.01.2024.

The Resolution Professional, Mr. Rajnandan Kumar, recommended admission of the personal guarantor into the Insolvency Resolution Process.

A demand notice was issued to the guarantor on 02.02.2024, and the application was filed on 19.07.2024, within the prescribed period of limitation.

…

## Issues and analysis

### Issue 1: Whether the application under Section 95 of the IBC is complete as required under the Insolvency …

**Ratio:** The application is complete as required under Section 95 read with Rule 7 of the

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**Reasoning:** The applicant has presented the application in Form C with relevant documents along with

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**Interpretation:** The Adjudicating Authority interpreted Section 95 and Rule 7 to mean that the

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**Application:** The Adjudicating Authority found that the application was complete as required,

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## Parties

- **Judges:** Labh S…; Rekha Kantilal…
- **Appellants:** Punjab National…; Rajnandan…
- **Respondents:** M/s Purulia Metal…; Anindita Mu…
- **Other parties:** PUNJAN NATIONAL…
- **Advocates:** Snehasish…; Tanvi Luha…

## Timeline

- **2024-02-02 — Demand N…**: Demand notice issued to…
- **2024-07-19 — Application…**: Application filed by…

## 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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