Mr. Pankaj Khetan, the Interim Resolution Professional (IRP), filed an appeal against the order dated 23.07.2019 passed by the Adjudicating Authority (National Company Law Tribunal) Cuttack Bench, Cuttack, which removed him as the IRP. The removal was based on the decision of the Committee of Creditors (CoC) in its meeting dated 12.04.2019, where they decided to replace the IRP with Mr. Bankim Shukla, with 100% voting shares. The appellant argued that the CoC did not comply with Section 27 of the Insolvency and Bankruptcy Code, 2016. The NCLAT observed that the removal was based on 100% voting by the CoC and dismissed the appeal.

Mr. Pankaj Khetan, the Interim Resolution Professional (IRP), filed an appeal against the order dated 23.07.2019 passed by the Adjudicating Authority (National Company Law Tribunal) Cuttack Bench, Cuttack, which removed him as the IRP. The removal was based on the decision of the Committee of Creditors (CoC) in its meeting dated 12.04.2019, where they decided to replace the IRP with Mr. Bankim Shukla, with 100% voting shares. The appellant argued that the CoC did not comply with Section 27 of the Insolvency and Bankruptcy Code, 2016. The NCLAT observed that the removal was based on 100% voting by the CoC and dismissed the appeal.