# In the matter of State Bank of India Vs. Smt. Rashmi Saxena, CP (IB)/750(PB)/2021

> NCLT judgment dated 2022-05-09. Citation: TCN-2022-NCLT-04830. The case pertains to an application filed under Section 95(1) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 9 May 2022
- **Citation:** TCN-2022-NCLT-04830
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/state-bank-of-india-vs-smt-rashmi-saxena-cp-f328443d

## Summary

### Background

The case pertains to an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016.

## Facts

The petition is filed under Section 95 of the IBC.

Sh. Rakesh Kumar Gupta is appointed as the Resolution Professional (RP) in terms of Section 97 of IBC.

The RP is directed to file an affidavit stating that there are no disciplinary proceedings pending against him.

The RP is directed to file a report in terms of Section 99 of the IBC within 10 days.

The matter is listed for further proceedings on 07.06.2028.

## Issues and analysis

### Issue 1: Appointment of Resolution …

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

…

**Reasoning:** The court considered the provisions of Section 97 of the IBC and the need for an RP to

…

**Interpretation:** Section 97 allows the court to appoint an RP with the specified qualifications

…

**Application:** Sh. Rakesh Kumar Gupta, possessing the required registration and

…

## Parties

- **Judges:** Ramalingam…; SH. AVINASH KUMAR…
- **Appellants:** State Bank of…
- **Respondents:** Rashmi S…
- **Other parties:** Sh. Rakesh Kumar…; Rakesh Kuma…
- **Advocates:** Ekta Chou…; Iswar Moh…

## Timeline

- **2022-05-09 — Order Del…**: Order delivered on…
- **2028-06-07 — Further Proc…**: List the matter for further…

## 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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