# In the matter of Brijesh Singh Bhadauriya vs. Pinakin Shah, IRP of Sintex Industries Ltd. & Ors. Company Appeal (AT) (Insolvency) No. 456 of 2023

> NCLAT judgment dated 2023-04-25. Citation: TCN-2023-NCLAT-00576. The appeal was filed against the order dated 10th February 2023, by which the Adjudicating…

- **Court:** NCLAT
- **Order date:** 25 Apr 2023
- **Citation:** TCN-2023-NCLAT-00576
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/brijesh-singh-bhadauriya-vs-pinakin-shah-irp-of-sintex-industries-ltd-ors-compan-5e99bf93

## Summary

### Background

The appeal was filed against the order dated 10th February 2023, by which the Adjudicating Authority approved the Resolution Plan of Sintex Industries Ltd. The appellant, a shareholder of the Corporate Debtor, challenged the approval of the Resolution Plan by the Adjudicating Authority.

## Facts

The appellant, Brijesh Singh Bhadauriya, a shareholder of Sintex Industries Ltd., filed an appeal against the order of the Adjudicating Authority approving the Resolution Plan for Sintex Industries Ltd. The appellant argued that the IRP had not conducted the insolvency process in accordance with the Insolvency and Bankruptcy Code, 2016, and that several illegalities were committed. The Committee of Creditors (CoC) had initially decided to change the IRP but subsequently reverted to the original IRP. The appellant also referred to a previous order of the Tribunal dated 24th November 2021, where it was observed that the Corporate Insolvency Resolution Process (CIRP) was not required to be proceeded with. The Tribunal noted that the appellant was a shareholder and not

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## Issues and analysis

### Issue 1: Whether the IRP conducted the Insolvency Process in accordance with the Insolvency and Bankruptcy …

**Ratio:** The Adjudicating Authority and the Committee of Creditors have the authority to oversee

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**Reasoning:** The Tribunal noted that the IRP conducted the entire process with the approval of the

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**Interpretation:** The IRP is required to conduct the CIRP in accordance with the IBC and its

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**Application:** In this case, the IRP's actions were approved by the CoC and the Adjudicating

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Brijesh Singh…
- **Respondents:** Sintex Industries…; Pinakin…

## Timeline

- **2023-02-10 — Order Da…**: The Adjudicating Authority approved the…
- **2021-11-24 — Tribunal…**: The Tribunal passed an order observing that the Corporate Insolvency Resolution Process…

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