Gagan Ferrotech Ltd. vs RDG Interior Decoration Exterior Architecture Pvt. Ltd.

Per: Balraj Joshi, Member (Technical)

This Adjudicating Authority convened through hybrid mode.

IA(IBC)/988(KB)2023 is an application filed by the Liquidator of RDG Interior Decoration Exterior Architecture Pvt. Ltd., the Corporate Debtor, praying for his replacement with another Insolvency Professional as Liquidator of the Corporate Debtor, on the ground of his illness. This application is supported by an affidavit^{11.At pages 13 and 14 of the application} duly affirmed on 18/05/2023 by Mr. Sanjeev Oza, the Liquidator.

This Adjudicating authority vide its order dated 19/12/2019 in CP(IB)/1303(KB)2019, had ordered initiation of CIRP against the Corporate Debtor appointing Mr. Tapan Chakraborty as the Interim Resolution Professional. Liquidation order^{22.Annexure ‘A’ at pages 15 and 19 of the application} was passed on 11/04/2023 appointing Mr. Sanjeev Oza as Liquidator of the Corporate Debtor.

Ld. Counsel for the applicant submits that the applicant was informed by the Resolution Professional vide e-mail^{33.Annexure ‘B’ at page 20 of the application} dated 13/05/2023. In view of the applicant’s medical conditions, the attending doctor had advised him complete rest and not to take any mental stress and prays for relieving him from the responsibility of the Liquidator of the Corporate Debtor. A copy of the medical certificate^{44.Annexure ‘C’ at pages 21 to 23 of the application} issued by Dr. S. K. Sarkar dated 10/04/2023 in this regard has been annexed.

We have heard the Ld. Counsel for the Liquidator, perused the application and the documents attached therewith. We are satisfied that the prayer made in the IA should be allowed. Therefore, we are appointing Mr. Pramod Kumar Singh (Reg. No. IBBI/IPA-002/IP-N00678/2018-2019/12039) having e-mail i.d. pramodip09@gmail.com mobile no. 9334611489 as Liquidator subject, however, to his possessing a valid Auithorisation for Assignment (AFA) issued by the Insolvency Professional Agency (IPA) of which he is a professional member, in terms of regulation 7A of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2019 in replacement of Mr. Sanzeev Oza, who is directed to handover all papers and documents in his possession concerning the Corporate Debtor to the newly appointed Liquidator in this matter within 10 days. The newly appointed Liquidator is directed to submit his consent to act as Liquidator within 10 days of receipt of this order.

IA(IBC)/988(KB)2023 is accordingly allowed and disposed of.

List CP(IB)/1303(KB)2019 for filing Periodical Progress Report on 20/10/2023.

The Registry is directed to send e-mail copies of the order forthwith to all the parties and their Ld. Counsel for information and for taking necessary steps.

A copy of this order shall also be sent to IBBI for their information.

Certified Copy of this order may be issued, if applied for, upon compliance of all requisite formalities.