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

> NCLT judgment dated 2023-03-23. Citation: TCN-2023-NCLT-04082. The case pertains to CP (IB) No. 177/Chd/Pb/2022 under Section 94 of the IBC 2016. Yatin Jain…

- **Court:** NCLT
- **Order date:** 23 Mar 2023
- **Citation:** TCN-2023-NCLT-04082
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/yatin-jain-cp-ib-no-177chdpb2022-9f059336

## Summary

### Background

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

## Facts

The case is related to CP (IB) No. 177/Chd/Pb/2022 under Section 94 of the IBC 2016. Yatin Jain is the petitioner in this matter. Mr. Deepankur Sharma has been appointed as the Resolution Professional (RP). His credentials have been verified by the Registry through Mr. Vikram, OA, and no adverse remarks were found against him on the IBBI website. The court has directed Mr. Sharma to comply with Section 99 of the I&B Code, 2016 and file the report within two weeks. A limited notice has been issued to the respondent-personal guarantor, requiring their presence within two weeks, returnable on or before 08.06.2023. The petitioner's counsel is directed to file an affidavit confirming that notice has been served upon the respondent-personal guarantor with proof of

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## Issues and analysis

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

**Ratio:** Section 97 of the IBC allows for the

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

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**Interpretation:** Section 97 of the IBC provides the legal basis for appointing a Resolution

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**Application:** Given the verification of credentials and the absence of adverse remarks, Mr.

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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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