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Judgment
1. Mr. Amar Vivek a/w Mr. Abhinav Tyagi, Ld. Counsel for the Applicant present. None for the Respondent.
2. IA-04/2023: This is an Application filed by the Applicant/IRP of Corporate Debtor under Section 22 of the IBC for replacing the Applicant/IRP i.e. Mr. Nitin Jain and appointing newly proposed RP; AAA Insolvency Professional LLP, an Insolvency Professional Entity as the Resolution Professional of the Corporate Debtor having registration number IBBI/IPE-0002/IPA-1/2022-23/50001.
3. Applicant submits that, the Applicant herein made public announcement in Form A on 18.11.2022 inviting creditors to file their claims before the Applicant on or before 29.11.2022. In pursuance of the claims received, the Applicant started verification of the said claims and constituted the Committee of Creditors (CoC). Accordingly, he submits that the first CoC meeting held on 12.12.2022 and the Applicant herein informed the members of the CoC that as per Section 22(2) of the IBC, the CoC in its first meeting shall decide to appoint the IRP as the RP or to replace the IRP by another RP. The CoC has passed the said resolution with 100% voting. Applicant has filed copy of the resolution along with the Application. As per the recommendation of the CoC, IRP filed the present Application for replacing the Applicant/IRP i.e. Mr. Nitin Jain and appointing newly proposed RP; AAA Insolvency Professional LLP, an Insolvency Professional Entity as the Resolution Professional of the Corporate Debtor having registration number IBBI/IPE-0002/IPA-1/2022-23/50001.
In view of the submissions made by the Applicant and perused the records, IA-04/2023 is allowed and disposed of.
IA-05/2023: This is an Application filed by the Applicant u/s 19(2) for seeking cooperation from the suspended Board of Directors.
The suspended Board of Directors are directed to file an affidavit what are the documents are asking by the RP and supplied by them categorically.
Counsel for the RP is directed to file an affidavit stating that what are the list of necessary documents required and what are the documents got by him from the suspended Board of Directors by the next date of hearing.
Registry is directed to issue Court Notice to the Respondent clearly indicating the next date of hearing. Counsel for the IRP is directed to collect the Court Notice from the Registry/Court Officer and serve it upon the Respondent by all available means and file proof of service within two weeks.
Ld. Counsel for the Respondent is directed to file reply by duly serving the copy on the other side within two weeks from the date of receipt of Court Notice.
List this matter for further consideration on 06.03.2023.