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Judgment
This is an application filed under Section 27 read with Section 60(5) of IBC, 2016 seeking replacement of RP. Heard Ld. Counsel on behalf of the Applicant. It was submitted that earlier Mr. Darshan Singh Anand was appointed as RP. However, the CoC on 05.07.2024 with 82.35% has passed a resolution to replace the earlier RP Mr. Darshan Singh Anand with Mr. Shashi Bhushan Prasad having registration No. IBBIIIPA-002/IP-N00676/2018-2019/12114 as Resolution Professional of the Corporate Debtor. Keeping in view the provisions contained in Section 27 of the Code and keeping in view the resolution passed by the CoC we hereby appoint Mr. Shashi Bhushan Prasad details of which are given above as RP of the CD and Mr. Darshan Singh Anand is hereby released from the duty of the RP. It is mentioned that consent of the newly appointed RP and valid AFA has been filed along with his application. Earlier RP is directed to hand over all the documents and material available to newly appointed RP. The newly appointed RP shall start functioning as RP and exercise the powers and duties conferred under the code and regulations. CoC is also directed to pay the fees and expenses of the earlier RP as early.