# In the matter of Narinder Singh Azad Vs. Bank Of Baroda CP (IB)-793/2020

> NCLT judgment dated 2021-02-15. Citation: TCN-2021-NCLT-03048. The case pertains to CP IB -793/2020 filed under Section 94(1) r/w sections 96, 97, 99 & 100…

- **Court:** NCLT
- **Order date:** 15 Feb 2021
- **Citation:** TCN-2021-NCLT-03048
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/narinder-singh-azad-vs-bank-of-baroda-cp-62c88443

## Summary

### Background

The case pertains to CP IB -793/2020 filed under Section 94(1) r/w sections 96, 97, 99 & 100 r/w Rule 6(1) of the IB (Application to Adjudicating Authority for IRP for Personal Guarantors to CD) Rules, 2019. The application was filed in the matter of Narinder Singh Azad, the Personal Guarantor/Debtor, versus Bank of Baroda, the Financial Creditor. Mr. Ravinder Singh Kathuria is the Applicant/RP. The Resolution Professional filed two applications, one of which, IA - 4207/2020, is the Written Consent to act as Resolution Professional (Form A). The Resolution Professional was appointed vide Order dated 28.9.2020.

## Facts

Narinder Singh Azad is the Personal Guarantor/Debtor. Bank of Baroda is the Financial Creditor. Mr. Ravinder Singh Kathuria is the Resolution Professional. The Resolution Professional filed an application IA - 4207/2020, seeking consent to act as Resolution Professional. The Resolution Professional was appointed vide Order dated 28.09.2020. Bank of Baroda (formerly Vijaya Bank) had instituted a recovery suit before the Debt Recovery Tribunal, New Delhi, in 2014, with a judgment passed in 2016, but the executing proceedings are pending. V Anlez Technologies Private Limited, the Corporate Debtor, was dissolved vide Order dated 26.07.2019 passed by the Hon'ble High Court. The total debt including interest and penalties w.e.f. 03.01.2014 of Bank of Baroda was Rs.

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## Issues and analysis

### Issue 1: Whether the application filed by the Resolution Professional seeking consent to act as Resolution …

**Ratio:** The Resolution Professional has declared that there are no disciplinary proceedings

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**Reasoning:** The court considered the declaration made by the Resolution Professional regarding the

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**Interpretation:** This issue involves interpreting the eligibility criteria for a Resolution

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**Application:** Based on the Resolution Professional's declaration and the absence of any

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## Parties

- **Judges:** Ch. Mohd Sharief…; Narendra Kumar…
- **Appellants:** Narinder Singh…
- **Respondents:** V Anlez Technologi…; Bank of B…

## Timeline

- **2012-01-01 — Loan Classif…**: The loan amount was…
- **2014-01-01 — Recovery Suit I…**: Bank of Baroda instituted a recovery suit…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 94(1) — Application by debtor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-94)

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