# In the matter of State Bank of India Vs. Chandra R Jain, CP (IB) No. 135/2021

> NCLT judgment dated 2022-09-09. Citation: TCN-2022-NCLT-01128. The case involves IA(IBC)/535 & 766/2022 in Company Petition IB/135/2021. IA 766/2022 was filed…

- **Court:** NCLT
- **Order date:** 9 Sept 2022
- **Citation:** TCN-2022-NCLT-01128
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-chandra-r-jain-cp-652cff6e

## Summary

### Background

The case involves IA(IBC)/535 & 766/2022 in Company Petition IB/135/2021. IA 766/2022 was filed by the Resolution Professional seeking permission to file a bankruptcy application by the Financial Creditor under section 106. IA 535/2022 was filed for filing bankruptcy application.

## Facts

State Bank of India is the petitioner. Smt.Chandra R Jain & RE Cables and Conductors Pvt Ltd is the respondent. IA 766/2022 was filed by the Resolution Professional seeking permission to file a bankruptcy application by the Financial Creditor under section 106. IA 535/2022 was filed for filing bankruptcy application. The permission sought in IA 766/2022 was granted, which made IA 535/2022 infructuous.

## Issues and analysis

### Issue 1: Whether the Resolution Professional should be granted permission to file a bankruptcy application …

**Ratio:** The legal principle applied is based on the provisions of the Insolvency and Bankruptcy

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**Reasoning:** The court's reasoning is based on the merits of the application and the fulfillment of

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**Interpretation:** The interpretation involves understanding the scope and applicability of

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** TELAPROLU…; Veera Brahma Rao…
- **Appellants:** State Bank of…
- **Respondents:** Smt.Chandra R…

## Timeline

- **2022-09-09 — Hearing…**: Hearing held on 09-09-2022 at 10:30…

## 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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