# In the matter of Jatin Rajpal vs. State Bank of India and Anr.

> NCLT judgment dated 2025-10-09. Citation: TCN-2025-NCLT-01524. An Interlocutory Application No. 58 of 2022 was filed under Section 98 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 9 Oct 2025
- **Citation:** TCN-2025-NCLT-01524
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/jatin-rajpal-vs-state-bank-of-india-and-anr-fa1e95e1

## Summary

### Background

An Interlocutory Application No. 58 of 2022 was filed under Section 98 of the Insolvency and Bankruptcy Code, 2016, by the personal guarantor/applicant seeking replacement of the Resolution Professional and setting aside the report dated 19.09.2021.

## Facts

Jatin Rajpal filed an application seeking replacement of the Resolution Professional and setting aside of the report dated 19.09.2021.

The application was filed under Section 98 of the Insolvency and Bankruptcy Code, 2016.

The applicant contended that the RP was biased because he was empanelled with the State Bank of India.

The applicant alleged that the RP's report was filed without proper enquiry.

The respondents argued that the RP was validly appointed and that mere empanelment does not create a conflict of interest.

The Tribunal noted that no disciplinary proceedings were pending against the RP.

The Tribunal relied on judgments including Ravi Ajit Kulkarni v. State Bank of India and Ram Dev International Ltd.

## Issues and analysis

### Issue 1: Whether the Resolution Professional should be replaced due to alleged bias arising from being …

**Ratio:** Empanelment with a financial creditor, by

…

**Reasoning:** The Tribunal relied on the judgment of the NCLAT in Ravi Ajit Kulkarni v. State Bank of

…

**Interpretation:** The court interpreted that the empanelment of RP with a financial creditor does

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**Application:** The Tribunal applied the principle that mere empanelment does not constitute

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## Parties

- **Judges:** Mohan P.…; SANJEEV S…
- **Appellants:** Jatin R…
- **Respondents:** State Bank of…; Sajjan Kumar…
- **Advocates:** Nipun Si…; Soumya D…

## Timeline

- **2021-09-19 — Report D…**: RP submitted report dated 19.09.2021…
- **2025-10-09 — Order Da…**: Order delivered on…

## Legal provisions

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

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