# In the matter of Canara Bank vs. Anish B. Doshi

> NCLT judgment dated 2025-04-09. Citation: TCN-2025-NCLT-01005. Canara Bank filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 9 Apr 2025
- **Citation:** TCN-2025-NCLT-01005
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/canara-bank-vs-anish-b-doshi-29754250

## Summary

### Background

Canara Bank filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Anish B. Doshi, the Personal Guarantor, for initiating the Insolvency Resolution Process.

## Facts

Canara Bank, the Applicant, and M/s Textrade International Limited entered into contractual obligations for a working capital facility.

The working capital facility was sanctioned on 01.08.2016 and renewed on 17.02.2017.

Revisions to the Working Capital Facilities were made through a Consortium Agreement dated 24.03.2017.

Anish B. Doshi executed a Personal Guarantee on 28.03.2017 to secure the contractual obligations.

M/s Textrade International Limited defaulted in payment of dues amounting to Rs. 14,98,03,219.61, with the date of default being 31.01.2019.

A demand notice dated 24.10.2024 was issued to Anish B. Doshi, the Personal Guarantor, as per Rule 7(1) of the Insolvency and Bankruptcy Rules, 2019 read with Section 95 of the IBC.

…

## Issues and analysis

### Issue 1: Whether judicial adjudication is involved at the stages envisaged in Section 95 to Section 99 of …

**Ratio:** No judicial adjudication is involved at the stages envisaged in Section 95 to Section 99

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**Reasoning:** The Resolution Professional appointed under Section 97 serves a facilitative role of

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**Interpretation:** The report to be submitted to the Adjudicating Authority is recommendatory in

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**Application:** The court relied on the judgment of the Hon'ble Supreme Court in the case of

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## Parties

- **Judges:** Sushil Mahadeorao…; Charanjeet Singh…
- **Appellants:** Canara…
- **Respondents:** Textrade Internati…; Anish B.…
- **Other parties:** Pramod Kumar…; Pramodkumar…
- **Advocates:** Anup Kh…; Aniruth Purusotham…

## Timeline

- **2016-08-01 — Sanction Lett…**: Canara Bank and M/s Textrade International Limited entered into contractual obligations…
- **2017-02-17 — Renewal of Sanction…**: Renewal of the working…

## 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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