# In the matter of Bank of Baroda Vs. Maa Tara Ispat Industries Pvt Ltd. Through Pramod Kumar Singh CA(AT)(Insolvency) 868-2019

> NCLAT judgment dated 12 Sept 2019. Citation: TCN-2019-NCLAT-00280. The case involves an appeal against the decision of the Adjudicating Authority regarding…

- **Court:** NCLAT
- **Order date:** 12 Sept 2019
- **Citation:** TCN-2019-NCLAT-00280
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/bank-of-baroda-vs-maa-tara-ispat-industries-pvt-ltd-through-pramod-kumar-singh-c-58ec4c48

## Summary

### Background

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.

## Facts

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.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should have replaced the Interim Resolution Professional (IRP) …

**Ratio:** Section 22 of the Insolvency and Bankruptcy Code, 2016, outlines the procedure for

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**Reasoning:** The court reasoned that the Adjudicating Authority should have followed the provisions of

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**Interpretation:** Section 22 of the I&B Code mandates a specific process for replacing the

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**Application:** The court applied the ratio by setting aside the Adjudicating Authority's order

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## Parties

- **Judges:** S.J. Mukhop…; Kanthi Na…
- **Appellants:** Bank of B…
- **Respondents:** M/s Maa Tara…
- **Advocates:** Ritesh…; Rahul Ad…; +2 more

## Timeline

- **2019-07-01 — CoC Deci…**: The Committee of Creditors decided to replace Mr. Pramod Kumar Singh as the Interim…
- **2019-08-07 — Impugned…**: The Adjudicating Authority…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 22 — Appointment of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-22)

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