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Judgment
By the Order of this Bench, the CIRP was commenced on 20.03.2020 in CP No. CP(IB)/492/MB/2018. In that Order Mr. Laxman Digambar Pawar was appointed as Insolvency Resolution Professional (IRP), Registration No. IBBI/IPA- 003/IP-N00015/2017-18/10104.
In the First meeting of the Committee of Creditors (CoC) held on 09.06.2020, the CoC has, u/s. 22(3)(b) of the IBC, took a unanimous decision to replace the IRP, Mr. Laxman Digambar Pawar with a new Resolution Professional (RP) Mr. Uday Sakrikar, Registration No. IBBI/IPA-001/IP- P01230/2018-19/11927. The Resolution passed by the CoC in this regard is as under:-
"AGENDA NO. 3(b)
Mr. Laxman D Pawar (Reg. No. IBBI/IPA- 003/IP-N00015/2017-18/10104) appointed as Insolvency Resolution Professional by Hon'ble NCLT vide order dated 20.03.2020 be and hereby replaced with Mr. Uday Sakrikar (Reg No IBBI/IPA-001/IP-P01230/2018-19/11927)".
In view of the above, this Bench approves the change of IRP and agrees to the appointment of Mr. Uday Sakrikar, as Resolution Professional. This Bench directs the Committee of Creditors to consider ratifying the payment of the erstwhile IRP and make payments according to the services provided by him.
The erstwhile IRP may hand over all the records etc. in his possession to the new RP immediately so that the CIRP could be carried forward smoothly.
IA 1095/2020 is "disposed of" accordingly.