Vikas Traders vs Starrh Almond King Pvt Ltd

The Counsel for the Operational Creditor present and stated that in compliance of the last order dated 25.11.2025, he has filed a Memo dated 01.01.2026 by enclosing the Form 2 dated 25.11.2025 - Written communication by the proposed IRP, namely, Mr. Murali Mohan Chevuturi, having Registration no. IBBI/IPA-003/00307 /2020-2021/13464 along with Authorization for Assignment (AFA) which is valid up to 30.06.2026 and prays to replace the previously appointed IRP Shri Rajesh Chhaparia by appointing Mr. Murali Mohan Chevuturi as the IRP for carrying out the CIRP of the Corporate Debtor as stipulated under the IBC along with its Regulations.

During the course of hearing, the credentials of the proposed IRP, namely, Mr.Murali Mohan Chevuturi has been verified from the website of the IBBI. The relevant extract of the same is reproduced below:

We have perused the Form 2 dated 25.11.2025 given by the proposed IRP, wherein he certified that there are no disciplinary proceedings pending against him with the Board or the Insolvency Professional Agency of the Institute of Cost Accountants of India and affirmed that he is eligible to be appointed as the IRP/RP in respect of the Corporate Debtor herein.

In view of the above, the proposed insolvency professional, namely, Mr. Murali Mohan Chevuturi bearing Regn. No. IBBI/IPA-003/00307/2020-2021/13464 having registered address at 1-2-59719, Flat No.201, Dream Home Vasista Aapts, Plot 9, Baraf Bagh Colony, Lower Tankbund, Hyderabad, Telangana-500029 is appointed as the new Interim Resolution Professional. The Operational Creditor is directed to deposit Rs. One Lakh with the IRP to meet out the expense to perform the functions assigned to him in accordance with Regulation 6 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulations, 2016. The amount, however, will be subject to adjustment by the Committee of Creditors as to be duly accounted for by IRP and shall be paid back to the Operational Creditor.

A copy of this Order shall immediately be communicated to the Operational Creditor, the Corporate Debtor, IBBI, and the new IRP by the Court Officer/Registry of this Adjudicating Authority.

During the hearing dated 08.07.2025, this Adjudicating Authority issued Bailable Warrants against the Operational Creditor (OC) and IRP. Today, the Counsel for the OC present and suggested a new IRP for conducting the CIRP of the CD. In view of the same, the Bailable Warrants issued against the OC and IRP is withdrawn.

Accordingly, IA (IBC)/370/2025 stands disposed of.

During the course of hearing, the Counsel appearing for the Applicant/ Operational Creditor prays to permit the Operational Creditor to withdraw the instant application. Permission is granted.

Accordingly, IA (IBC)/371/2025 is hereby dismissed as withdrawn.