# In the matter of State Bank of India Vs. Ritu Saluja, CP (IB) No. 241/Chd/Pb/2021

> NCLT judgment dated 2022-10-06. Citation: TCN-2022-NCLT-00836. The case pertains to CP (IB) No. 241/Chd/Pb/2021, filed under Section 95 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 6 Oct 2022
- **Citation:** TCN-2022-NCLT-00836
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-ritu-saluja-cp-79ee3d61

## Summary

### Background

The case pertains to CP (IB) No. 241/Chd/Pb/2021, filed under Section 95 of the Insolvency and Bankruptcy Code, 2016. State Bank of India is the petitioner, acting as the financial creditor, and Ritu Saluja is the respondent, acting as the personal guarantor. The matter is being conducted through video conferencing.

## Facts

State Bank of India, as the financial creditor, filed a petition (CP (IB) No. 241/Chd/Pb/2021) against Ritu Saluja, the personal guarantor, under Section 95 of the Insolvency and Bankruptcy Code, 2016. Mr. Mohit Chawla was appointed as the Resolution Professional. The Registry verified his credentials, and no adverse remarks were found on the IBBI website. The respondent's counsel stated that the debt had already been settled in the CIRP process and intends to file an objection to the petition's maintainability. The court issued a limited notice to the respondent and granted two weeks to file the objection.

## Issues and analysis

### Issue 1: Whether Mr. Mohit Chawla should be …

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

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

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**Interpretation:** Section 97 provides the legal basis for appointing a Resolution Professional,

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**Application:** Given the verification and lack of adverse findings, Mr. Mohit Chawla's

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** State Bank of…
- **Respondents:** Ritu Sa…
- **Advocates:** Rakesh…; Rakshit…; +2 more

## Timeline

- **2022-10-06 — Order Da…**: Order issued appointing Mr. Mohit Chawla as Resolution Professional and granting time to…
- **2022-12-02 — Next Hearin…**: The matter is listed…

## 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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