# In the matter of Tilak Raj Bedi, CP (IB) No. 1/Chd/Pb/2022

> NCLT judgment dated 2022-04-21. Citation: TCN-2022-NCLT-03139. The case pertains to an insolvency resolution process under Section 94 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 21 Apr 2022
- **Citation:** TCN-2022-NCLT-03139
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tilak-raj-bedi-cp-ib-no-1chdpb2022-af37c780

## Summary

### Background

The case pertains to an insolvency resolution process under Section 94 of the Insolvency & Bankruptcy Code, 2016. The petitioner, Tilak Raj Bedi, has filed an affidavit of service, and a compliance affidavit regarding eligibility has also been filed. The Resolution Professional, Mr. Pawan Sharma, has been appointed after verification of his credentials.

## Facts

Tilak Raj Bedi filed a petition under Section 94 of the Insolvency & Bankruptcy Code, 2016. Ms. Niharika Sohal appeared as the advocate for the petitioner. The affidavit of service and compliance affidavit were filed and taken on record. Mr. Pawan Sharma was appointed as the Resolution Professional after his credentials were verified. The court directed the issuance of notice to the creditors, returnable on or before 19.05.2022, and instructed the learned counsel for the petitioner to file an affidavit if the notice had already been issued. Creditors are allowed to file objections/replies with the RP by 19.05.2022.

## Issues and analysis

### Issue 1: Whether the petitioner meets the eligibility criteria under Sections 94(4) & (5) of the I&B …

**Ratio:** The compliance affidavit under Sections 94(4) & (5) of the I&B Code, 2016, is

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**Reasoning:** The court took the compliance affidavit on record, indicating that the petitioner had

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**Interpretation:** Sections 94(4) & (5) of the I&B Code, 2016, outline the specific

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**Application:** The petitioner filed the compliance affidavit, which was taken on record by the

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Tilak Raj…

## Timeline

- **2022-03-08 — Affidavit of Service…**: Affidavit of service filed by learned counsel…
- **2022-03-15 — Compliance Affidavit…**: Compliance affidavit under Sections 94(4) & (5) of I&B Code, 2016 filed vide Diary No.…

## 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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