# In the matter of Indian Bank Vs. Abhey Ram Dhaiya, CP (IB) No. 364/Chd/Hry/2022

> NCLT judgment dated 2023-01-04. Citation: TCN-2023-NCLT-05200. The case pertains to CP(IB) No.364/Chd/Chd/2022 under Section 95 of the IBC 2016. Indian Bank…

- **Court:** NCLT
- **Order date:** 4 Jan 2023
- **Citation:** TCN-2023-NCLT-05200
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/indian-bank-vs-abhey-ram-dhaiya-cp-8b655b47

## Summary

### Background

The case pertains to CP(IB) No.364/Chd/Chd/2022 under Section 95 of the IBC 2016. Indian Bank is the petitioner, and Abhey Ram Dhaiya is the respondent. The petitioner's counsel stated that they do not wish to propose a Resolution Professional.

## Facts

Indian Bank filed a petition against Abhey Ram Dhaiya under Section 95 of the IBC 2016. The petitioner, Indian Bank, stated through its counsel that they do not wish to propose a Resolution Professional. The court then considered appointing a Resolution Professional from the list provided by the IBBI. Mr. Khushvinder Singhal is proposed as the Resolution Professional, with his registration number IBBI/IPA-002/IP-N00888/2019-2020/12833, email ID kvsinghal@gmail.com, and mobile number 9914030030. The validity of the list of Insolvency Professionals from IBBI is from January 01, 2023, to June 30, 2023. The registry is directed to check the antecedents and verify any disciplinary proceedings pending against the proposed RP. The fees of the Resolution Professional will be

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## Issues and analysis

### Issue 1: Whether a Resolution Professional should be appointed from the list provided by IBBI when the …

**Ratio:** The court has the authority to appoint a Resolution Professional from the list provided

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**Reasoning:** The court reasoned that the insolvency resolution process requires a Resolution

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**Interpretation:** This interprets the court's power under Section 95 of IBC 2016 to ensure the

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**Application:** The court applied this principle by deciding to appoint Mr. Khushvinder Singhal

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Indian…
- **Respondents:** Abhey Ram…

## Timeline

- **2023-01-01 — IBBI List Valid…**: The list of Insolvency Professionals provided…
- **2023-01-04 — Order Da…**: Order issued on January…

## 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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