# 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-01808. 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-01808
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-abhishek-soin-cp-6c2eb437

## 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 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 the 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 has been appointed as the Resolution Professional. The court has directed the respondent to be present within two weeks and has instructed the petitioner's counsel to file an affidavit confirming that the notice has been served to the respondent. The case is listed for further hearing on 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 under Section 95 of the IBC

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

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**Interpretation:** Section 95 of the IBC 2016 allows the court to appoint a Resolution

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**Application:** The court applied its power under Section 95 to appoint Mr. Kuldip Kumar Bassi

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## Parties

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

## Timeline

- **2022-07-08 — Order Da…**: Order issued appointing Mr. Kuldip Kumar Bassi as Resolution Professional and directing…
- **2022-09-29 — Next Hearin…**: Next date of hearing…

## 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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