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Judgment
This is an application filed by the Resolution Professional under Section 27 of the IBC, 2016 seeking the following prayers:
a)Allow the present Application and appoint Mr. Harish Taneja (registration number IBBI/IPA-002/IP-N00088/2017-18/10229 as the Resolution Professional for the Corporate Debtor under Section 27 of the Code.
b)Pass such other order(s) as may be deemed fit and proper in the facts and circumstances of the instance case.
It is stated that the CIRP commenced in this matter vide order dated 31.10.2023, and one Mr. S. Gopalakrishnan was appointed as the IRP. Thereafter, the IRP was replaced vide order dated 20.02.2024, and a representative RP was appointed.
It is stated that CoC in its meeting held on 15.07.2024, has passed the following resolution:
To consider and, if thought fit, to pass with or without modification the following resolution:
"RESOLVED THAT pursuant to Regulation 31 and 33 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and other relevant provisions of Insolvency and Bankruptcy Code, 2016, the consent of the Committee of Creditors be and is hereby accorded to ratify expenses of Rs. 1,850/- incurred by RP for the CIRP of Corporate Debtor up to the date of the Meeting, as per the details placed before the CoC in the meeting shall be treated as Corporate Insolvency Resolution Process Cost".
The said resolution was approved with a majority of 90.10%.
Taking into consideration that the CoC with the requisite majority has approved the replacement of RP. We hereby appoint Mr. Harish Taneja, who has issued the Form-AA, which is appended to page No. 93 of the application.
We also direct the CoC to clear dues of existing RP, within a period of seven days from the date of this order.
The Outgoing RP to hand over the entire assets, documents, legal proceedings, charge etc., of the Corporate Debtor to the new RP, within a period of three days, from the date of this order.
Accordingly, IA/1169(AHM) 2026 is allowed and disposed off.