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Judgment
This is an Application filed by the Applicant under Section 22 (3) (b) of the IBC, 2016 r/w. Rule, 11 of the NCLT Rules, 2016 seeking the following reliefs:-
This Hon'ble Tribunal be pleased to confirm the appointment of Respondent No. 2 i.e Incorp Restructuring Services LLP as the Resolution Professional of the Corporate Debtor; and
Such other order(s) as this Hon'ble Tribunal may deem fit and proper in the facts and circumstances of the case.
The CIRP in the matter commenced vide order dated 07.02.2025 in C.P. (IB)/ 589(MB)2023 and one Mr. Jayesh Natvarlal Sanghrajka was appointed as IRP.
The first meeting of the Committee of Creditors of the Corporate Debtor was conducted on 07.03.2025. The sole member of the CoC recommended to change the IRP and proposed that Incorp Restructuring Services LLP (IPE) bearing registration No. IBBI/IPE-0129/IPA-1/2022-23/50032, be appointed as the RP in the matter. The e-voting on the same concluded on 21.03.2025.
The Applicant has since filed an additional affidavit, which is dated 03.06.2025, annexing therewith e-voting results. The additional affidavit is verified on 03.06.2025. The same is taken on record.
The Perusal of the additional affidavit more particularly Page No. 8 reveals the following resolution was passed with 100% majority by the CoC.
“RESOLVED THAT pursuant to section 22, sub-section (3) and other applicable provisions, if any, of Insolvency and Bankruptcy Code, 2016 read with regulation 34 and 31 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulation, 2016 and in accordance with rules and regulations made there under, approval of Committee of Creditors be and is hereby appoints Incorp Restructuring Services LLP through authorised signatory Mr. Vithal Dhake (Insolvency Professional Entity) having Registration No. IBBI/IPE-0129/IPA-1/2022-23/50032 as Resolution Professional of Sigtia Constructions Private Limited by replacing Mr. Jayesh Sanghrajka, Interim Resolution Professional.
Ld. Counsel appearing for the Respondent No. 1 and Respondent No. 2 state that they have since received the copy of the Application and they do not have any objection to the present Application.
As the CoC of the Corporate Debtor has recommended to change the IRP and has suggested the name of new RP with a majority voting share of 100%, we hereby appoint Incorp Restructuring Services LLP (IPE) bearing registration No. IBBI/IPE-0129/IPA-1/2022-23/50032 as the RP of the Corporate Debtor.
Outgoing RP is directed to handover the custody of all assets, documents and papers relating to the CIRP of the Corporate Debtor to the incumbent RP within a period of 3 days from the date of this order.
Accordingly, the above IA(I.B.C)/2254(MB)2025 is hereby allowed and disposed off.