In the matter of State Bank of India v. D Rajeswari, [CP(IB)/94(CHE)/2022]
Case brief
What is this about?
The NCLT Bench appointed SBI to initiate IRP proceedings against personal guarantor D Rajeswari. Following Supreme Court precedents on Section 95 IBC, the court appointed Shri P Mylsamy as Interim Resolution Professional to examine and submit a report within 10 days.
What did the court decide?
Appointment of Shri P Mylsamy as Interim Resolution Professional and direction to submit report within 10 days.
What the court decided
IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – I, CHENNAI
CP(IB)/94(CHE)/2022
(filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016
State Bank of India Stressed Asset Management Branch Raja Plaza, First Floor, #1112, Avinashi Road, Coimbatore – 641 037
.....Applicant
Versus
D Rajeswari W/o. R. Dhinakaran Jain’s Abhishek, Block II, First Floor FK, Velachery Main Road, Selaiyur, Chennai – 600 073
....Respondent
Order pronounced on 9th February 2024
CORAM :
SANJIV JAIN, MEMBER (JUDICIAL) VENKATARAMAN SUBRAMANIAN, MEMBER (TECHNICAL)
Issues for consideration
2 issues framed by the court
Whether the NCLT should appoint an Interim Resolution Professional upon the filing of an application under Section 95(1) of the IBC.
Whether the principles of natural justice are satisfied during the stage of report submission by the Resolution Professional.
Parties & counsel
- applicant
State Bank of India
- respondent
D Rajeswari
Coram
SANJIV JAIN
Case details
As recorded by the court registry
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