# In the matter of Yatin Jain, CP (IB) No. 177/Chd/Pb/2022

> NCLT judgment dated 2023-03-23. Citation: TCN-2023-NCLT-04089. The case pertains to CP (IB) No. 177/Chd/Pb/2022 under Section 94 of the IBC 2016. The matter…

- **Court:** NCLT
- **Order date:** 23 Mar 2023
- **Citation:** TCN-2023-NCLT-04089
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/yatin-jain-cp-ib-no-177chdpb2022-1ca996fd

## Summary

### Background

The case pertains to CP (IB) No. 177/Chd/Pb/2022 under Section 94 of the IBC 2016. The matter involves Yatin Jain as the petitioner. The credentials of Mr. Deepankur Sharma, the Resolution Professional (RP), have been checked and verified by the Registry. No adverse remarks were found against the RP on the IBBI website.

## Facts

The case is CP (IB) No. 177/Chd/Pb/2022 under Section 94 of the IBC 2016. Yatin Jain is the petitioner. Mr. Deepankur Sharma has been appointed as the Resolution Professional (RP). The Registry verified Mr. Sharma's credentials, finding no adverse remarks on the IBBI website. The RP is directed to comply with Section 99 of the I&B Code, 2016, and file a report within two weeks. A limited notice is to be issued to the respondent-personal guarantor, returnable by 08.06.2023. The petitioner's counsel must file an affidavit confirming service of notice on the respondent-personal guarantor before the next hearing on 08.06.2023.

## Issues and analysis

### Issue 1: Whether Mr. Deepankur Sharma should be …

**Ratio:** The court has the power to appoint a Resolution

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**Reasoning:** The court verified the credentials of Mr. Deepankur Sharma 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:** Based on the verification of Mr. Sharma's credentials and the absence of

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Yatin…

## Timeline

- **2023-03-23 — Order Da…**: Order issued by the…
- **2023-06-08 — Next Hearin…**: Next date of hearing.…

## 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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