# In the matter of Mahendra Kumar Singhi Vs IBBI & 10 Ors

> HC judgment dated 2024-07-22. Citation: TCN-2024-HC-00059. The case involves a writ petition filed by Mr. Mahendra Kumar Singhi against the Insolvency and…

- **Court:** HC
- **Order date:** 22 Jul 2024
- **Citation:** TCN-2024-HC-00059
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/mahendra-kumar-singhi-vs-ibbi-10-ors-f9384a65

## Summary

### Background

The case involves a writ petition filed by Mr. Mahendra Kumar Singhi against the Insolvency and Bankruptcy Board of India (IBBI) and others. The petitioner challenges the minutes of the 11th meeting of the Committee of Creditors (CoC) of M/S Steel Hypermart India Pvt. Ltd., held on 2024-05-15, arguing they are non-est and illegal. The petitioner also seeks compliance with a letter from IBBI regarding the appointment of a liquidator.

## Facts

Mr. Mahendra Kumar Singhi filed a writ petition challenging the minutes of the 11th meeting of the Committee of Creditors (CoC) of M/S Steel Hypermart India Pvt. Ltd., held on 2024-05-15. The petitioner argues that the CoC's decision to appoint Ravindra Beleyur, the existing resolution professional, as the liquidator is contrary to the recommendation of the Insolvency and Bankruptcy Board of India (IBBI) dated 2023-07-18. The IBBI recommended that a person other than the resolution professional/interim resolution professional should be appointed as liquidator. The petitioner seeks to set aside the CoC's decision and ensure compliance with the IBBI's recommendation. The Corporate Insolvency Resolution Process (CIRP) is ongoing in CP (IB) 216/2020. The petitioner also

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## Issues and analysis

### Issue 1: Whether the appointment of the existing resolution professional as the liquidator is permissible in …

**Ratio:** The court considered the principle that the IBBI's recommendations should be given due

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**Reasoning:** The court reasoned that the CoC's decision to appoint the same person as both resolution

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**Interpretation:** The court interpreted the IBBI's recommendation as a guideline to prevent

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**Application:** The court applied the principle by granting an interim stay on the appointment

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## Parties

- **Judges:** Ravindra B…
- **Appellants:** MAHENDRA KUMAR…
- **Respondents:** M/S STEEL…; Insolvency and…
- **Other parties:** Kohi…

## Timeline

- **2024-05-15 — 11th Meeting of…**: The 11th meeting of the Committee of Creditors of M/S Steel Hypermart India Pvt. Ltd. was…
- **2023-07-18 — IBBI Recomme…**: The Insolvency and Bankruptcy Board of India (IBBI) issued a recommendation that a person…

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