# In the matter of State Bank of India Vs. Kailashchandra Sukanraj Jain, CP (IB) No. 140/2021

> NCLT judgment dated 2022-09-09. Citation: TCN-2022-NCLT-01115. The case involves IA 769/2022 filed by the Resolution Professional seeking permission to file a…

- **Court:** NCLT
- **Order date:** 9 Sept 2022
- **Citation:** TCN-2022-NCLT-01115
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-kailashchandra-sukanraj-jain-cp-aca50710

## Summary

### Background

The case involves IA 769/2022 filed by the Resolution Professional seeking permission to file a bankruptcy application by the Financial Creditor under section 106. Additionally, IA 536/2022 is also under consideration.

## Facts

State Bank of India is the petitioner in a Company Petition IB/140/2021. Sri Kailashchandra Sukanraj Jain & RE Cables and Conductors Pvt Ltd are the respondents. IA 769/2022 was filed by the Resolution Professional seeking permission to file a bankruptcy application by the Financial Creditor under section 106. IA 536/2022 was also related to filing a bankruptcy application. The court allowed IA 769/2022, which made IA 536/2022 infructuous.

## Issues and analysis

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

**Ratio:** The legal principle is that a Resolution Professional can seek permission to file a

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**Reasoning:** The court granted permission based on the application filed by the Resolution

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**Interpretation:** Section 106 allows a Resolution Professional to seek permission to initiate

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**Application:** The court applied this principle by allowing IA 769/2022, which was the

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## Parties

- **Judges:** TELAPROLU…; Veera Brahma Rao…
- **Appellants:** State Bank of…
- **Respondents:** RE Cables &…; Kailashchandra…

## Timeline

- **2022-09-09 — Hearing…**: Hearing held on 09-09-2022 at 11:30…

## 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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