# In the matter of Jammu and Kashmir Bank Ltd Vs. Rajinder Kumar and Ors., CP (IB) No. 22/Chd/J&K/2021

> NCLT judgment dated 2022-07-04. Citation: TCN-2022-NCLT-01912. The case pertains to CP(IB) No. 22/Chd/PB/2021 before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 4 Jul 2022
- **Citation:** TCN-2022-NCLT-01912
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jammu-and-kashmir-bank-ltd-vs-rajinder-kumar-and-ors-cp-1a5fbb49

## Summary

### Background

The case pertains to CP(IB) No. 22/Chd/PB/2021 before the National Company Law Tribunal, Chandigarh Bench. Jammu and Kashmir Bank is the petitioner, and Rajinder Kumar and Others are the respondents. The matter is being conducted through video conferencing. Mr. Maynak Mathur is the Advocate for the Petitioner, and no one is present for the Respondent.

## Facts

Jammu and Kashmir Bank filed a petition against Rajinder Kumar and Others. Mr. Anurag Gupta's antecedents as a proposed IRP were verified. Mr. Shikhar Sarin, Advocate, stated that the respondent was wrongly marked in the previous order. The court is proceeding with the insolvency resolution process by appointing an IRP and directing compliance with Section 99 of the relevant code. The matter is being heard via video conferencing.

## Issues and analysis

### Issue 1: Whether Mr. Anurag Gupta should be appointed …

**Ratio:** The court has the power to appoint an Interim Resolution Professional (IRP) after

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**Reasoning:** The court relied on the report of the Registry, which verified the antecedents of Mr.

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**Interpretation:** The interpretation is that the court must ensure the suitability of the IRP

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**Application:** Based on the Registry's report confirming Mr. Anurag Gupta's antecedents, the

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Jammu & Kashmir…
- **Respondents:** Rajinder…

## Timeline

- **2022-07-04 — Order Da…**: Order issued by the…
- **2022-09-19 — Next Hearin…**: Next date of hearing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 99 — Submission of report by resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-99)

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