# In the matter of State Bank of India Vs. Abhishek Soin, CP (IB) No. 149/Chd/Pb/2021

> NCLT judgment dated 2022-07-08. Citation: TCN-2022-NCLT-01801. The case pertains to CP(IB) No. 149/Chd/Pb/2021 under Section 95 of the IBC 2016. State Bank of…

- **Court:** NCLT
- **Order date:** 8 Jul 2022
- **Citation:** TCN-2022-NCLT-01801
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-abhishek-soin-cp-02bfa92a

## Summary

### Background

The case pertains to CP(IB) No. 149/Chd/Pb/2021 under Section 95 of the IBC 2016. State Bank of India is the petitioner, and Abhishek Soin S/o Satish Kumar Soin is the respondent. The matter was presented through video conferencing, with Mr. Baldev Singh Badhran appearing as the advocate for the petitioner. Mr. Kuldip Kumar Bassi, a proposed Resolution Professional, has been verified and appointed, directed to comply with Section 99 and file a report within two weeks.

## Facts

State Bank of India filed a petition against Abhishek Soin S/o Satish Kumar Soin under Section 95 of the IBC 2016. Mr. Kuldip Kumar Bassi was proposed as the Resolution Professional, and his antecedents were verified by the Registry. The court appointed Mr. Bassi as the Resolution Professional and directed him to comply with Section 99 of the IBC 2016 and file a report within two weeks. A limited notice was issued to the respondent, Abhishek Soin, for appearance within two weeks, returnable on or before 29.09.2022. The petitioner's counsel was directed to file an affidavit confirming the service of notice to the respondent with proof of service before the next hearing, which is scheduled for 29.09.2022.

## Issues and analysis

### Issue 1: Whether Mr. Kuldip Kumar Bassi should be …

**Ratio:** The court has the power to appoint a Resolution Professional after verifying their

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**Reasoning:** The Registry verified the antecedents of Mr. Kuldip Kumar Bassi, and the court found him

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**Interpretation:** The court interprets Section 95 of the IBC 2016 to allow for the appointment of

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**Application:** Based on the Registry's verification, Mr. Kuldip Kumar Bassi was appointed as

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** State Bank of…
- **Respondents:** Abhishek Soin S/o…
- **Advocates:** Baldev Singh…

## Timeline

- **2022-07-08 — Order Da…**: Order issued by the…
- **2022-09-29 — Next Hearin…**: Next hearing scheduled. Respondent to…

## 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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