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Judgment
IA-683/2023 – This Application is filed under section 60(5) of the insolvency and Bankruptcy Code, 2016 by Financial Creditor M/s Gill International Limited seeking replacement of the former IRP namely Mr. Shantanu T. Ray. Counsel appearing for the former IRP submits that Show Cause Notice dated 10.10.2022 was issued by the IBBI under Bye Law 23 of the Bye Laws of ICSI Institute of Insolvency Professionals (ICSI IIP) and Part 1.6 of the Monitoring Policy of ICSI IIP and IRP Shantanu T. Ray was suspended until further orders. Be that as it may, this Bench feels it proper to appoint new IRP as prayed for. Accordingly AAA Insolvency Professionals LLP IRP is appointed from having registration No. IN-DL20649330797640U of M/s Unimers India Limited to conduct the CIRP Process further. With the aforesaid observations IA-683/2023 is allowed and disposed of. As per thefees, it will be paid as per the regulations.
RESOLUTION PASSED AT THE MEETING OF THE DESIGNATED PARTNERS OF AAA INSOLVENCY PROFESSIONALS LLP, HELD AT 64, OKHLA ESTATE PHASE III (NEAR MODI MILL), NEW DELHI, 110020, HELD ON THE 01st DAY OF JUNE, 2026
The Corporate Insolvency Resolution Process of Unimers India Limited under section 7 of the Insolvency and Bankruptcy Code, 2016 was commenced vide order dated 18.11.2022 by the Hon'ble NCLT, Mumbai Bench.
The Hon'ble NCLT appointed Mr. Santanu T Ray as the Interim Resolution Professional on 18.11.2022, however, due to the suspension of the AFA of Mr. Santanu T. Ray by the Indian Institute of Insolvency Professional of ICSI vide Show Cause Notice dated 10.10.2022, AAA Insolvency Professional LLP ("AAAIP"), an Insolvency Professional Entity, registered as Insolvency Professional with IBBI vide registration no. IBBI/IPE-0002/IPA-1/2022-23/50001 was appointed as Interim Resolution Professional in CIRP of Unimers India Limited vide order dated 24.02.2023 by the Hon'ble NCLT.
Mr. Sanjay Gupta, Designated Partner of AAA Insolvency Professional LLP was acting as an authorized partner on behalf of AAA Insolvency Professional LLP, Interim Resolution Professional in the matter of Unimers India Limited vide resolution dated 15.06.2024 passed in the meeting of Partners of AAA Insolvency Professional LLP as per Regulation 7(2) (ha) of the IBBI (Insolvency Professional) Regulation, 2016.
Mr. Sanjay Gupta has tendered his resignation from AAA Insolvency Professionals LLP with effect from 30.05.2026 and is no longer associated with the AAAIP. Consequently, he shall cease to act as the Authorised Partner on behalf of AAAIP in the CIRP of Unimers India Limited with effect from 30.05.2026.
In this regard, after a brief discussion and considering the fact that the Committee of Creditors has not been constituted yet in view of the Order dated 09.12.2022 passed by the Hon'ble NCLAT, New Delhi in Company Appeal (AT) (I) No. 1474 of 2022, directing the IRP to maintain status quo in the CIRP of the Corporate Debtor, all partner unanimously decided to replace the Authorised Partner to sign and act on behalf of IPE to ensure a smooth insolvency process. Consequently, the following resolution was passed in a meeting of the partners of AAAIP: -
RESOLVED THAT CA Ankit Goel bearing IBBI Registration Number IBBI/IPA-001/IP-P-02671/2022-2023/14088, the Designated Partner of AAA Insolvency Professional LLP, be and is hereby appointed as the Authorised Partner responsible for signing and acting on behalf of AAA Insolvency Professional LLP, the IPE appointed as the Interim Resolution Professional in the Corporate
Insolvency Resolution Process of Unimers India Limited as provided in Regulation 7(2) (ha) Of the IBBI (Insolvency Professional) Regulation, 2016.
FURTHER RESOLVED THAT Adv. Sanjay Gupta is relieved from the duties and responsibilities of authorized partner to sign and act on behalf of IPE in the matter of Unimers India Limited.