The case involves an appeal against the decision of the Adjudicating Authority regarding the replacement of the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided to replace Mr. Pramod Kumar Singh as the IRP. The appellant challenges this decision, arguing that the Adjudicating Authority should have replaced the IRP as per Section 22 of the Insolvency and Bankruptcy Code (I&B Code). The CoC did not provide any reason for replacing the IRP.
The Committee of Creditors (CoC) decided to replace Mr. Pramod Kumar Singh as the Interim Resolution Professional (IRP) by a majority decision of 100% on July 1, 2019. The Adjudicating Authority did not replace the IRP according to Section 22 of the Insolvency and Bankruptcy Code, 2016. The CoC did not provide any reason for replacing the IRP. The impugned order was dated August 7, 2019. The appellant challenged the decision to replace the IRP without any stated reason.
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The Committee of Creditors decided to replace…
The Adjudicating…
The case involves an appeal against the decision of the Adjudicating Authority regarding the replacement of the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided to replace Mr. Pramod Kumar Singh as the IRP. The appellant challenges this decision, arguing that the Adjudicating Authority should have replaced the IRP as per Section 22 of the Insolvency and Bankruptcy Code (I&B Code). The CoC did not provide any reason for replacing the IRP.
The Committee of Creditors (CoC) decided to replace Mr. Pramod Kumar Singh as the Interim Resolution Professional (IRP) by a majority decision of 100% on July 1, 2019. The Adjudicating Authority did not replace the IRP according to Section 22 of the Insolvency and Bankruptcy Code, 2016. The CoC did not provide any reason for replacing the IRP. The impugned order was dated August 7, 2019. The appellant challenged the decision to replace the IRP without any stated reason.
The Committee of Creditors decided to replace…
The Adjudicating…