# In the matter of Bank of Baroda vs. J Brijmohan Reddy

> NCLT judgment dated 2023-11-29. Citation: TCN-2023-NCLT-00547. The case involves a petition filed under Section 95 of the Insolvency & Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 29 Nov 2023
- **Citation:** TCN-2023-NCLT-00547
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bank-of-baroda-vs-j-brijmohan-reddy-23649864

## Summary

### Background

The case involves a petition filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) by a Financial Creditor. The Financial Creditor has proposed Mr. Harish Kant Kaushik as the Resolution Professional (RP).

## Facts

Bank of Baroda filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. J. Brijmohan Reddy. The Financial Creditor, Bank of Baroda, proposed Mr. Harish Kant Kaushik as the Resolution Professional (RP). The court appointed Mr. Kaushik as RP and directed him to submit a report within 10 days. An interim moratorium was ordered, staying legal actions against the debtor. The petitioner is directed to issue notice to the respondent and file proof of the same by way of an affidavit. The case was adjourned to 2024-01-15.

## Issues and analysis

### Issue 1: Whether the appointment of the proposed Resolution Professional is justified under Section 95 of …

**Ratio:** Section 95 of the IBC allows a financial creditor to initiate insolvency resolution

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**Reasoning:** The court considered the proposal of the Financial Creditor and found it appropriate to

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**Interpretation:** The interpretation of Section 95 allows the court to appoint the proposed RP if

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**Application:** The court applied the ratio by appointing Mr. Harish Kant Kaushik as the RP,

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## Parties

- **Judges:** Venkata Ramakrishn…; SHRI. SANJA…
- **Appellants:** Bank of B…
- **Respondents:** J. Brijmoha…

## Timeline

- **2023-11-29 — Hearing…**: Hearing of the National Company Law…
- **N/A — Petition…**: Petition filed under Section 95…

## 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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