AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
IA (IBC)/987/2023
This application has been moved under Section 27 of the IBC for replacing the present Resolution Professional Mr. Venkateswarlu Kari with Mr. Naveen Gupta. Before moving the present application, the applicant has complied with requirements as prescribed under section 27 of the IBC i.e., 66% of the voting shares of the creditors and the approval of the proposed Resolution Professional. The present Resolution Professional is also present and he has no objection for allowing the application. Accordingly, this application is allowed and the proposal to appoint the Resolution Professional as per the provisions of Section 27 sub section 4, and the name of the proposed Resolution Professional is sent to the board for confirmation.
IA (IBC)/538/2022
Matter is adjourned to 10.11.2023.