# In the matter of Navneet Bedi, CP (IB) No. 5/Chd/Pb/2022

> NCLT judgment dated 2022-03-21. Citation: TCN-2022-NCLT-03636. The case pertains to CP (IB) No. 5Chd/Pb/2022 filed under Section 94 of the IBC 2016. The…

- **Court:** NCLT
- **Order date:** 21 Mar 2022
- **Citation:** TCN-2022-NCLT-03636
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/navneet-bedi-cp-ib-no-5chdpb2022-6d64a357

## Summary

### Background

The case pertains to CP (IB) No. 5Chd/Pb/2022 filed under Section 94 of the IBC 2016. The matter involves Navneet Bedi as the petitioner. The court is conducting proceedings through web-based video conferencing.

## Facts

Navneet Bedi has filed a petition under Section 94 of the IBC 2016, registered as CP (IB) No. 5Chd/Pb/2022. The court has verified the credentials of Mr. Pawan Sharma, the proposed Resolution Professional, and appointed him as such. A compliance affidavit has been filed and taken on record. The court has directed the issuance of notice to the creditors, returnable on or before 19.05.2022, and instructed the petitioner's counsel to file an affidavit confirming the service of notice to the creditors. The Resolution Professional is directed to comply with Section 99 of IBC and file the report within two weeks. The next hearing is scheduled for 19.05.2022.

## Issues and analysis

### Issue 1: Whether Mr. Pawan Sharma should be …

**Ratio:** The court has the power to appoint a Resolution Professional based on the credentials and

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**Reasoning:** The court verified the credentials of Mr. Pawan Sharma and found him suitable for the

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**Interpretation:** The court's power to appoint a Resolution Professional is derived from the IBC

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**Application:** The court applied its power to appoint a Resolution Professional by verifying

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Navneet…

## Timeline

- **2022-03-07 — Compliance Affidavit…**: Compliance affidavit…
- **2022-03-21 — Order Da…**: Order issued by the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 94 — Application by debtor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-94)

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