# In the matter of Anil Nanda IB-514-ND-2020

> NCLT judgment dated 2020-08-31. Citation: TCN-2020-NCLT-00761. The case pertains to an application under Section 95 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 31 Aug 2020
- **Citation:** TCN-2020-NCLT-00761
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/anil-nanda-ib-514-nd-2020-5dbf5d42

## Summary

### Background

The case pertains to an application under Section 95 of the Insolvency and Bankruptcy Code (IBC). The Tribunal issued an order on August 25, 2020, following which the IBBI nominated Mr. Rajesh Kumar Sinha as the Interim Resolution Professional (IRP).

## Facts

M/s Apogee Enterprises Pvt. Ltd. filed a petition. Anil Nanda is the respondent. The case is under Section 95 of the IBC. The Tribunal, following its order dated August 25, 2020, considered the nomination of Mr. Rajesh Kumar Sinha as the Resolution Professional. The petitioner's counsel agreed to pay Rs. 2,00,000 to the IRP. The respondent is also present and directed to file objections. The matter was posted to September 21, 2020.

## Issues and analysis

### Issue 1: Whether Mr. Rajesh Kumar Sinha should be appointed as the Interim Resolution Professional (IRP) in …

**Ratio:** The Tribunal has the authority to appoint an IRP based on the recommendations of the IBBI

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**Reasoning:** The IBBI nominated Mr. Rajesh Kumar Sinha, and the petitioner's counsel agreed to pay the

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**Interpretation:** Section 97(3) of the IBC 2016 allows the Tribunal to consider the IBBI's

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**Application:** Based on the IBBI's nomination and the petitioner's agreement to pay the fees,

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## Parties

- **Judges:** P.S.N. P…; SUMITA PURK…; +1 more
- **Appellants:** M/s Apogee…
- **Respondents:** Anil N…

## Timeline

- **2020-08-25 — Tribunal…**: The Tribunal issued an…
- **2020-08-25 — IBBI Commun…**: IBBI nominated Mr. Rajesh Kumar…

## 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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