# In the matter of Bank of Baroda Vs. Rajnandan Singh, C.P (IB)/133(KB)2021

> NCLT judgment dated 2021-06-30. Citation: TCN-2021-NCLT-01903. Bank of Baroda filed a petition against Rajnandan Singh under Section 95(1) of the Insolvency…

- **Court:** NCLT
- **Order date:** 30 Jun 2021
- **Citation:** TCN-2021-NCLT-01903
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bank-of-baroda-vs-rajnandan-singh-cp-b6f9d839

## Summary

### Background

Bank of Baroda filed a petition against Rajnandan Singh under Section 95(1) of the Insolvency and Bankruptcy Code (IBC). The matter was initially scheduled for a hearing on July 5, 2021, but was taken up earlier based on a mentioning email dated June 29, 2021.

## Facts

Bank of Baroda filed a petition (CP(IB)/133(KB)2021) against Rajnandan Singh under Section 95(1). The initial hearing was scheduled for July 5, 2021, but the matter was taken up earlier due to a mentioning email dated June 29, 2021. The applicant, Bank of Baroda, sought leave to withdraw the petition because a Resolution Professional was already acting as the Liquidator of the Corporate Debtor. This fact is relevant because it suggests that insolvency proceedings were already underway, potentially rendering the current petition redundant or unnecessary.

## Issues and analysis

### Issue 1: Whether the petition filed by Bank of Baroda should be dismissed as withdrawn given that a …

**Ratio:** A court may allow the withdrawal of a petition if circumstances warrant it, especially

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**Reasoning:** The court reasoned that since a Resolution Professional was already acting as the

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**Interpretation:** This interpretation allows for flexibility in insolvency proceedings,

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**Application:** In this case, the court applied the ratio by allowing the withdrawal of Bank of

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## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Appellants:** Bank of B…
- **Respondents:** Rajnandan…

## Timeline

- **2021-06-29 — Mentioning…**: A mentioning email was sent, leading to the matter being taken up earlier than initially…
- **2021-06-30 — Hearing…**: The hearing took place on…

## 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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