This appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging an order dated June 26, 2019, passed by the Adjudicating Authority (NCLT, Mumbai Bench). The original proceedings involved a Company Petition filed under Section 9 of the Code by Elecon Engineering Co. Ltd. to initiate the Corporate Insolvency Resolution Process (CIRP) against Enviro Bulkk Handling System Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority admitted the petition on December 4, 2017, and subsequently appointed Mr. Rajmal Labhchand Mogra as the Interim Resolution Professional (IRP) on June 18, 2018. The IRP issued a public announcement on June 26, 2018, and the first Committee of Creditors (CoC) meeting was held on July 16, 2018. During this meeting, the CoC, comprising Invent Assets Securitisation and Reconstruction Pvt. Ltd. (72.56% voting rights) and Saraswat Co-operative Bank Ltd. (27.44% voting rights), decided not to confirm Mr. Mogra as the Resolution Professional (RP) and instead resolved to replace him. An application for his replacement was filed on July 31, 2018.

This appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging an order dated June 26, 2019, passed by the Adjudicating Authority (NCLT, Mumbai Bench). The original proceedings involved a Company Petition filed under Section 9 of the Code by Elecon Engineering Co. Ltd. to initiate the Corporate Insolvency Resolution Process (CIRP) against Enviro Bulkk Handling System Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority admitted the petition on December 4, 2017, and subsequently appointed Mr. Rajmal Labhchand Mogra as the Interim Resolution Professional (IRP) on June 18, 2018. The IRP issued a public announcement on June 26, 2018, and the first Committee of Creditors (CoC) meeting was held on July 16, 2018. During this meeting, the CoC, comprising Invent Assets Securitisation and Reconstruction Pvt. Ltd. (72.56% voting rights) and Saraswat Co-operative Bank Ltd. (27.44% voting rights), decided not to confirm Mr. Mogra as the Resolution Professional (RP) and instead resolved to replace him. An application for his replacement was filed on July 31, 2018.