# In the matter of Sunil Jain, CP (IB) No. 176/Chd/Pb/2022

> NCLT judgment dated 2023-03-23. Citation: TCN-2023-NCLT-04083. The case pertains to CP (IB) No. 176/Chd/Pb/2022 under Section 94 of the IBC 2016. The…

- **Court:** NCLT
- **Order date:** 23 Mar 2023
- **Citation:** TCN-2023-NCLT-04083
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sunil-jain-cp-ib-no-176chdpb2022-11e3a514

## Summary

### Background

The case pertains to CP (IB) No. 176/Chd/Pb/2022 under Section 94 of the IBC 2016. The credentials of Mr. Deepankur Sharma, the Resolution Professional (RP), have been verified. No adverse remarks were found against the RP on the IBBI website.

## Facts

The case is CP (IB) No. 176/Chd/Pb/2022 under Section 94 of the IBC 2016. Mr. Deepankur Sharma's credentials as RP have been verified, and he has been appointed under Section 97 of the IBC. The court has ordered a limited notice to be issued to the respondent-personal guarantor, returnable on or before 08.06.2023. The petitioner's counsel must file an affidavit confirming service of notice on the respondent-personal guarantor before the next hearing, which is scheduled for 08.06.2023.

## Issues and analysis

### Issue 1: Whether Mr. Deepankur Sharma should be appointed as Resolution Professional under Section 97 of the …

**Ratio:** The court has the power to appoint a Resolution Professional if the credentials are

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**Reasoning:** The court verified Mr. Deepankur Sharma's credentials and found no adverse remarks

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**Interpretation:** Section 97 of the IBC allows the court to appoint a Resolution Professional

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**Application:** Since Mr. Sharma's credentials were in order, the court appointed him as the

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Sunil…
- **Advocates:** Ankush R…

## Timeline

- **2023-03-23 — Order Da…**: Order issued by the…
- **2023-06-08 — Next Hearin…**: Next date of hearing. The respondent-personal guarantor must be present, and the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 94 — Application by debtor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-94)

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