Disposed

In the matter of Idbi Bank Ltd. v. Vikas Bhawanishankar Sharma Cp(Ib) No. 227/Chd/Hry/2021

NCLT11 Mar 2022

Case brief

AI extract

What is this about?

This order directed the appointed Resolution Professional to file a report regarding the proposal for the Centre for Development of Merchant Banking (NPCI) and to comply with Section 99 IBC within two weeks. Limited notice was issued to the respondent to appear within two weeks, returnable on 13.05.2022.

What did the court decide?

Directed Resolution Professional to file report under Section 99 IBC within two weeks and issued limited notice to respondent to appear by 13.05.2022.

In the matter of Idbi Bank Ltd. Vs. Vikas Bhawanishankar… — Insolvency and Bankruptcy | NCLT (2022)

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THE NATIONAL COMPANY LAW TRIBUNAL CHANDIGARH BENCH, CHANDIGARH ( through web-based video conferencing platform )

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Item 21 CP (IB) No. 227/Chd/Hry/2021

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Under Section 95, IBC 2016

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In the matter of:-

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IDBI Bank Ltd. ….Petitioner

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Vs.

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Vikas Bhawanishankar Sharma …Respondent

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Present through Video Conferencing:

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Mr. Dharam Paul Garg, Advocate for Applicant

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Report regarding the proposed Resolution Professional Mr. Asish Narayan has been filed, wherein it is mentioned that no adverse remarks has been found against the said RP having Registration No. IBBI/IPA-002/IP-N00444/20172018/11274. He is appointed as Resolution Professional and directed to comply with the provisions of Section 99 and file the report accordingly within two weeks.

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In the meantime, issue limited notice of this petition to the respondent for his presence within two weeks, returnable on 13.05.2022. The petitioner shall collect the notice from the Registry and send the same immediately to the respondent at its registered address by speed post along with copy of the application and the entire paper book and the copy of this order as well as at the email address of the respondent.

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In case, the service of speed post on the respondents is not effected, then the petitioner shall adopt the mode of substituted service and the notice of hearing be advertised in two daily newspapers (one English and one Hindi) having wide

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CP (IB) No. 227/Chd/Hry/2021

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circulation in the area and file affidavit of service along with copy of postal receipt, tracking report, copy of email and paper clippings, if applicable within two weeks. Reply may be filed within two weeks of service / publication with copy advance to the counsel opposite and rejoinder thereto, if any, may be filed within one week thereafter with a copy in advance to the counsel opposite. List on 13.05.2022.

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Sd/Sd/- (Subrata Kumar Dash) (Harnam Singh Thakur) Member (Technical) Member (Judicial) March 11, 2022 PB

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CP (IB) No. 227/Chd/Hry/2021

In the matter of Idbi Bank Ltd. v. Vikas Bhawanishankar Sharma Cp(Ib) No. 227/Chd/Hry/2021

Case brief

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In the matter of Idbi Bank Ltd. v. Vikas Bhawanishankar Sharma Cp(Ib) No. 227/Chd/Hry/2021

Case brief

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