# In the matter of State Bank of India Vs. Neeraj Saluja, CP (IB) No. 242/Chd/Pb/2021

> NCLT judgment dated 2022-10-06. Citation: TCN-2022-NCLT-00838. The case pertains to CP (IB) No. 242/Chd/Pb/2021 under Section 95 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 6 Oct 2022
- **Citation:** TCN-2022-NCLT-00838
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-neeraj-saluja-cp-94e9119f

## Summary

### Background

The case pertains to CP (IB) No. 242/Chd/Pb/2021 under Section 95 of the Insolvency and Bankruptcy Code, 2016. State Bank of India is the petitioner (financial creditor) and Neeraj Saluja is the respondent (personal guarantor). The matter is presented through video conferencing.

## Facts

State Bank of India filed a petition against Neeraj Saluja under Section 95 of the Insolvency and Bankruptcy Code, 2016. The case is CP (IB) No. 242/Chd/Pb/2021. Mr. Mohit Chawla's credentials as an Insolvency Professional were verified by the registry, and he was appointed as the Resolution Professional under Section 97 of the I&B Code, 2016. The respondent, Neeraj Saluja, through his counsel, intends to file an objection to the maintainability of the petition, arguing that the debt has already been settled in the CIRP process. The court has directed the respondent to file the objection within two weeks and listed the matter for further hearing on 02.12.2022. The fact that the debt is claimed to be settled in CIRP is a key fact.

## Issues and analysis

### Issue 1: Whether Mr. Mohit Chawla can be appointed as Resolution Professional under Section 97 of the …

**Ratio:** Section 97 of the I&B Code, 2016 allows for the appointment of a Resolution

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**Reasoning:** The registry verified Mr. Mohit Chawla's credentials and found no adverse remarks. This

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**Interpretation:** Section 97 provides a mechanism for ensuring that the appointed Resolution

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**Application:** Since Mr. Chawla's credentials were verified and found satisfactory, the court

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** State Bank of…
- **Respondents:** Neeraj S…

## Timeline

- **2021-01-01 — Case Fil…**: CP (IB) No. 242/Chd/Pb/2021 filed under Section 95 of the Insolvency and Bankruptcy Code,…
- **2022-10-06 — Order Da…**: Order issued appointing Mr. Mohit Chawla as Resolution Professional and directing notice…

## 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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