# In the matter of State Bank of India Vs. Satish Kumar Soin, CP (IB) No. 153/Chd/Pb/2021

> NCLT judgment dated 2022-07-08. Citation: TCN-2022-NCLT-01800. The case pertains to CP(IB) No. 153/Chd/Pb/2021 under Section 95 of the IBC 2016, heard by the…

- **Court:** NCLT
- **Order date:** 8 Jul 2022
- **Citation:** TCN-2022-NCLT-01800
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/state-bank-of-india-vs-satish-kumar-soin-cp-1ff81c22

## Summary

### Background

The case pertains to CP(IB) No. 153/Chd/Pb/2021 under Section 95 of the IBC 2016, heard by the National Company Law Tribunal, Chandigarh Bench, Chandigarh, through a web-based video conferencing platform. The matter involves State Bank of India as the petitioner and Satish Kumar Soin as the respondent. Mr. Baldev Singh Badhran appeared as Advocate for the petitioner.

## Facts

State Bank of India filed a petition against Satish Kumar Soin under Section 95 of the IBC 2016. The court verified the antecedents of Mr. Kuldip Kumar Bassi and appointed him as the Resolution Professional. The court directed the issuance of a limited notice to the respondent, Satish Kumar Soin, for appearance within two weeks, with a return date of 29.09.2022. The petitioner's counsel was instructed to file an affidavit confirming the service of notice upon the respondent with proof of service. The case was listed for hearing on 29.09.2022. The appointment of the Resolution Professional is a key fact, indicating the commencement of the resolution process. The direction to issue notice to the respondent is crucial for ensuring due process.

## Issues and analysis

### Issue 1: Whether Mr. Kuldip Kumar Bassi should be …

**Ratio:** The court has the authority to appoint a Resolution Professional after verifying their

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**Reasoning:** The court verified the antecedents of Mr. Kuldip Kumar Bassi, Proposed Resolution

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**Interpretation:** This demonstrates the court's adherence to the process of appointing a

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**Application:** The court applied its authority to appoint Mr. Kuldip Kumar Bassi as the

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** State Bank of…
- **Respondents:** Satish Kuma…
- **Advocates:** Baldev Singh…

## Timeline

- **2022-07-08 — Order Da…**: Order issued appointing Mr. Kuldip Kumar Bassi as Resolution Professional and directing…
- **2022-09-29 — Next Hearin…**: Case listed for further…

## 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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