# State Bank of India through Resolution Professional vs. Mr. Rajesh GaurishankarPoddar

> NCLT judgment dated 13 Jan 2026. Citation: TCN-2026-NCLT-00060. State Bank of India (Financial Creditor), through its Resolution Professional Mr. Indrajit…

- **Court:** NCLT
- **Order date:** 13 Jan 2026
- **Citation:** TCN-2026-NCLT-00060
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/state-bank-of-india-through-resolution-professional-vs-mr-rajesh-gaurishankarpod-e8p6t

## Summary

### Background

State Bank of India (Financial Creditor), through its Resolution Professional Mr. Indrajit Mukherjee, filed an application under Section 95(1) of the IBC against Mr. Rajesh GaurishankarPoddar (Personal Guarantor) to initiate insolvency resolution. The Corporate Debtor, M/s Loha Ispaat Limited, had availed various credit facilities from SBI, which were secured by personal guarantees from Mr. Poddar. The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on 28.08.2014, and the date of default was stated as 28.02.2017. The Financial Creditor invoked the guarantee and issued a demand notice on 28.06.2021, but the Personal Guarantor failed to make payments, leading to the application being filed.

## Facts

State Bank of India (Financial Creditor), through Resolution Professional Mr. Indrajit Mukherjee, filed an application under Section 95 of the IBC, 2016.

The application was filed against Mr. Rajesh GaurishankarPoddar (Respondent/Personal Guarantor) to initiate the insolvency resolution process.

The Corporate Debtor, M/s Loha Ispaat Limited, availed various credit facilities from the Financial Creditor.

Mr. Rajesh GaurishankarPoddar executed a deed of Personal Guarantee to secure the credit facilities availed by the Corporate Debtor.

The Financial Creditor classified the Corporate Debtor's account as a Non-Performing Asset (NPA) on 28.08.2014.

The date of default, as stated in Part III of the application, is 28.02.2017.

…

## Issues and analysis

### Issue 1: Whether the application filed by the Financial Creditor under Section 95 of the Insolvency and …

**Ratio:** An application for the initiation of an insolvency resolution process against a personal

…

**Reasoning:** The date of default was established as 28.02.2017. The statutory three-year limitation

…

**Interpretation:** The Tribunal adopted a strict interpretation of the limitation law, emphasizing

…

**Application:** Given that the application was filed on 16.07.2021, and the three-year

…

## Parties

- **Judges:** SHRI. ANIL RAJ…; SHRI. K R SAJI…
- **Appellants:** State Bank of…
- **Respondents:** M/s Loha Ispaat…; Rajesh Gaurishanka…
- **Other parties:** Insolvency and…; Personal Gu…; +7 more

## Timeline

- **2014-08-28 — NPA Classif…**: The Financial Creditor classified the Corporate Debtor's account as a Non-Performing…
- **2017-02-13 — Guarantee I…**: The Financial Creditor, through its…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-kolkata/state-bank-of-india-through-resolution-professional-vs-mr-rajesh-gaurishankarpod-e8p6t