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Judgment
IA-2265/2020
Report filed by Interim Resolution Professional is taken on record subject to all just exceptions. The office is directed to maintain the record and put up the same before the Bench at the time of final disposal.
IA-2265/2020 stands disposed of.
IA-2270/2020
It is an application filed by the applicant under Section 22(3) (b) of the Code, 2016 for replacement of earlier Resolution Professional Mr. Rattan Chaudhry with Mr. Subhash Kumar Kundra, Insolvency Professional [IBBI/IPA-002/IP-N00399/2017-18/11174] as Resolution Professional of the corporate debtor. The resolution has been passed with 100% voting share by the CoC in its 2nd meeting held on 01.06.2020.
In view of the submissions made by the counsel and documents placed on record, we hereby appoint Mr. Subhash Kumar Kundra, Insolvency Professional as Resolution Professional of the corporate debtor. Thus we accord our acceptance to the proposal made by the CoC. The RP is expected to discharge his functions diligently, honestly and ethically. He is also expected to file reports from time to time as per the requirements of the Insolvency and Bankruptcy Code, 2016 and the Regulations and guide the CoC as per the provisions of the statute and Regulations.
The application stands disposed of.