# In the matter of Union Bank of India vs. Sri Daya Patodia

> NCLT judgment dated 2025-03-06. Citation: TCN-2025-NCLT-00388. The case involves a financial creditor seeking the appointment of a Resolution Professional for…

- **Court:** NCLT
- **Order date:** 6 Mar 2025
- **Citation:** TCN-2025-NCLT-00388
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/union-bank-of-india-vs-sri-daya-patodia-688c64f0

## Summary

### Background

The case involves a financial creditor seeking the appointment of a Resolution Professional for a personal guarantor under Section 95(1) of the IBC. The Financial Creditor proposed a name for the Resolution Professional, and the court considered this proposal.

## Facts

Union Bank of India Limited filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code (IBC) against Sri Daya Patodia, a personal guarantor. The Financial Creditor proposed the name of an Insolvency Professional for appointment as Resolution Professional. The court appointed Ms. Tripti Agarwal as the Resolution Professional and directed her to file a declaration and a report under Section 99 of the IBC. The Resolution Professional will be paid Rs. 75,000 for the assigned job. The Personal Guarantor is entitled to raise objections to the report within one week of receipt. The matter is listed for consideration on 2024-03-28.

## Issues and analysis

### Issue 1: Whether Ms. Tripti Agarwal should be …

**Ratio:** Section 97 of the IBC, 2016, confers the

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**Reasoning:** The court considered the proposal of the Financial Creditor and found it appropriate to

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**Interpretation:** Section 97 of the IBC allows the Adjudicating Authority to appoint a Resolution

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**Application:** The court applied Section 97 of the IBC to appoint Ms. Tripti Agarwal as the

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## Parties

- **Judges:** BIDISHA BA…; Cmde Siddharth…
- **Appellants:** Union Bank of…
- **Respondents:** Daya Pa…

## Timeline

- **2025-03-06 — Hearing…**: Order sheet of the…
- **N/A — Resolution Professional…**: Ms. Tripti Agarwal appointed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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