# In the matter of State Bank of India Vs. Yash Paul Jindal, CP (IB) No. 276/Chd/Pb/2021

> NCLT judgment dated 2022-05-24. Citation: TCN-2022-NCLT-04786. The case pertains to an application under Section 95 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 24 May 2022
- **Citation:** TCN-2022-NCLT-04786
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/state-bank-of-india-vs-yash-paul-jindal-cp-81cdb622

## Summary

### Background

The case pertains to an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 against a personal guarantor.

## Facts

State Bank of India filed a petition against Yash Paul Jindal under Section 95 of the Insolvency and Bankruptcy Code, 2016.

Yash Paul Jindal is the respondent and is a personal guarantor.

Mr. Jalesh Kumar Grover is appointed as the Resolution Professional.

The Registry has verified the credentials of Mr. Jalesh Kumar Grover through Mr. Abhinav Gupta, OA.

No adverse remark was found against the Insolvency Professional on the website of ibbi.gov.in.

The court directed the issuance of notice to the respondent-personal guarantor.

The returnable date for the notice is on or before 02.08.2022.

The petitioner's counsel is directed to file an affidavit regarding the service of notice.

The case is listed for hearing on 02.08.2022.

## Issues and analysis

### Issue 1: Whether Mr. Jalesh Kumar Grover can be …

**Ratio:** The credentials of Mr. Jalesh Kumar Grover, RP, have been checked and verified by the

…

**Reasoning:** The absence of adverse remarks and verification by the Registry support the appointment

…

**Interpretation:** The court interprets the verification process as sufficient grounds for

…

**Application:** Mr. Jalesh Kumar Grover is appointed as Resolution Professional and is directed

…

## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** State Bank of…
- **Respondents:** Yash Paul…
- **Other parties:** Jalesh Kumar…
- **Advocates:** Harsh…; Pulkit…

## Timeline

- **N/A — Appointment…**: Mr. Jalesh Kumar Grover is…
- **2022-08-02 — Next Hearin…**: Case listed for hearing…

## 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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