# In the matter of State Bank of India Vs. Smt. Sunanda Khuranan , (IB)-331(ND)/2021)

> NCLT judgment dated 2021-09-09. Citation: TCN-2021-NCLT-01150. The State Bank of India filed an application under Section 95 of the Insolvency & Bankruptcy…

- **Court:** NCLT
- **Order date:** 9 Sept 2021
- **Citation:** TCN-2021-NCLT-01150
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-smt-sunanda-khuranan-ea4611e3

## Summary

### Background

The State Bank of India filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, against Mrs. Sunanada Khuranan. The application pertains to the insolvency resolution process for personal guarantors to corporate debtors. The matter was heard by the National Company Law Tribunal (NCLT), New Delhi, Principal Bench.

## Facts

The State Bank of India (SBI) filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016 against Mrs. Sunanada Khuranan, concerning the insolvency resolution process for personal guarantors to corporate debtors. The applicant/creditor, SBI, proposed Mr. Manoj Kumar Anand as the Resolution Professional. The NCLT found no pending disciplinary proceedings against Mr. Anand. The NCLT then appointed Mr. Anand as the Resolution Professional and directed him to submit recommendations regarding the application's acceptance or rejection, as per Section 99 of the I&B Code, 2016. The matter was scheduled for further consideration on 20.10.2021.

## Issues and analysis

### Issue 1: Whether Mr. Manoj Kumar Anand should be appointed as the Resolution Professional for the insolvency …

**Ratio:** The NCLT has the power to appoint a Resolution Professional under Section 97 of the IBC,

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**Reasoning:** The NCLT considered the proposal by the applicant/creditor (SBI) and noted that there

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**Interpretation:** Section 97 of the IBC, 2016, empowers the adjudicating authority to appoint a

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**Application:** Given that SBI proposed Mr. Anand and no disciplinary issues existed, the NCLT

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## Parties

- **Judges:** SH. BHASKARA…; Sh. Hemant Kumar…
- **Appellants:** State Bank of…
- **Respondents:** Sunanada Kh…

## Timeline

- **2021-09-09 — Order Del…**: Order delivered by the NCLT appointing Mr. Manoj Kumar Anand as the Resolution…
- **2021-10-20 — Further Consi…**: The matter is listed for…

## 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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