# In the matter of Glukrich Capital Pvt Ltd Vs. Shiv Kumar Jatia, CP (IB) No. 444 (PB)/2021

> NCLT judgment dated 2021-09-21. Citation: TCN-2021-NCLT-01055. The case involves Glukrich Capital Pvt. Ltd. as the applicant/petitioner and Shiv Kumar Jatia…

- **Court:** NCLT
- **Order date:** 21 Sept 2021
- **Citation:** TCN-2021-NCLT-01055
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/glukrich-capital-pvt-ltd-vs-shiv-kumar-jatia-cp-6b1e5e9d

## Summary

### Background

The case involves Glukrich Capital Pvt. Ltd. as the applicant/petitioner and Shiv Kumar Jatia as the respondent. The order pertains to Section 7 of the Insolvency & Bankruptcy Code, 2016, specifically related to the Corporate Insolvency Resolution Process (CIRP). The learned counsel for the applicant/creditor proposed the name of Mr. Atul Kumar Kansal as the Insolvency Professional.

## Facts

Glukrich Capital Pvt. Ltd. filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Shiv Kumar Jatia. The court considered the appointment of Mr. Atul Kumar Kansal as the Resolution Professional, noting his registration details (IBBI/IPA-001/IP-P00035/2016-17/10080) and the absence of pending disciplinary proceedings against him. The court appointed him as the Resolution Professional, directing him to make recommendations regarding the application and provide a report as per Section 99(7) of the I&B Code. The matter was scheduled for further consideration on 20.10.2021.

## Issues and analysis

### Issue 1: Whether Mr. Atul Kumar Kansal should be appointed as the Resolution Professional in the matter …

**Ratio:** The court has the authority to appoint a Resolution Professional under Section 97 of the

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**Reasoning:** The court considered the proposal of the applicant/creditor's counsel, the qualifications

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**Interpretation:** Section 97 of the IBC, 2016, grants the Adjudicating Authority the power to

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**Application:** Given Mr. Kansal's qualifications and the absence of any impediments, the court

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## Parties

- **Judges:** Bhaskara Pantula…; HEMANT KUMAR…
- **Appellants:** Glukrich Capital…
- **Respondents:** Shiv Kumar…

## Timeline

- **2021-09-21 — Order Del…**: Order delivered by the NCLT, New Delhi, regarding the appointment of Resolution…
- **2021-10-20 — Matter Listed for…**: The matter is listed for further…

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