# In the matter of Rajiv Shrivastava 
Vs.
Manish Kumar Gupta, Resolution Professional,
Three C Projects Pvt. Ltd. & Anr.

> NCLAT judgment dated 2022-07-21. Citation: TCN-2022-NCLAT-00336. This is an appeal against an order dated 2022-06-03 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 21 Jul 2022
- **Citation:** TCN-2022-NCLAT-00336
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rajiv-shrivastava-vs-manish-kumar-gupta-resolution-professional-three-c-projects-de90746c

## Summary

### Background

This is an appeal against an order dated 2022-06-03 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Principal Bench. The appellant, a financial creditor and homebuyer, filed I.A No. 3375 of 2021 seeking directions for the Resolution Professional to put forth the agenda for removal of RP before the CoC and appointment of Mr. Nilesh Sharma as Resolution Professional. The Resolution Professional in the CIRP has resigned on 2022-07-02. The Adjudicating Authority vide earlier order dated 2021-12-14 has requested the Hon'ble Justice (Retd.) Rajiv Sahai Endlaw to take up the assignment as a Commissioner in holding the meeting of the Homebuyers and to elect the Authorized Representative.

## Facts

Rajiv Shrivastava filed an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi. The appellant, a financial creditor and homebuyer, sought directions for the Resolution Professional (RP) to include the agenda for the removal of the existing RP and the appointment of Mr. Nilesh Sharma as the new RP before the Committee of Creditors (CoC). The Resolution Professional in the Corporate Insolvency Resolution Process (CIRP) had resigned on 2022-07-02. The Adjudicating Authority had previously requested Justice (Retd.) Rajiv Sahai Endlaw to act as a Commissioner to hold a meeting of homebuyers and elect an Authorized Representative. The RP had resigned but offered to continue as an ad-hoc RP until a new arrangement was made.

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## Issues and analysis

### Issue 1: Whether the Resolution Professional, having resigned, is entitled to continue carrying on any …

**Ratio:** A Resolution Professional who has submitted their resignation is not entitled to carry on

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**Reasoning:** The court reasoned that once a Resolution Professional has resigned, they no longer have

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**Interpretation:** This clarifies that resignation from the position of Resolution Professional

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**Application:** The court applied this principle to the case by stating that the Resolution

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## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** Rajiv Shriv…
- **Respondents:** Three C Projects…; Manish Kuma…

## Timeline

- **2022-07-21 — Hearing…**: Heard Learned Counsel for the Appellant. Shri…
- **2022-06-03 — Order Date of Impugned…**: Order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi,…

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