# In the matter of Shri Balaji Holdfin Pvt. Ltd. vs. Kanchan Dutta & Anr.

> NCLAT judgment dated 2026-01-07. Citation: TCN-2026-NCLAT-00003. The appeal was filed challenging an order dated 11.11.2025 passed by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 7 Jan 2026
- **Citation:** TCN-2026-NCLAT-00003
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/shri-balaji-holdfin-pvt-ltd-vs-kanchan-dutta-anr-a389d39c

## Summary

### Background

The appeal was filed challenging an order dated 11.11.2025 passed by the Adjudicating Authority (National Company Law Tribunal) Kolkata Bench, Kolkata in IA No.270/KB/2025 along with Contempt Petition No.04 of 2025 and IA No.1090 of 2025.

## Facts

The Appellant challenged the order dated 11.11.2025 passed by the Adjudicating Authority (NCLT) Kolkata Bench.

The Adjudicating Authority declared IA No.270 of 2025 as infructuous due to the replacement of the Resolution Professional.

The Appellant claimed to have been a Financial Creditor with 71% voting share in the CoC but was later ousted.

The Appellant filed IA No.1878 of 2025 raising concerns about their illegal ousting from the CoC.

The new Resolution Professional issued Form G on 05.11.2025.

The Respondent's counsel argued that the appeal became infructuous due to the replacement of the Resolution Professional.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in dismissing IA No.270 of 2025 as infructuous due …

**Ratio:** The Adjudicating

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**Reasoning:** The Resolution Professional having been replaced, the application IA No.270 of 2025

…

**Interpretation:** The replacement of the Resolution Professional renders the application for

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**Application:** The principle applies when the specific relief sought in an application is

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Balaji Holdfin…
- **Respondents:** Kanchan…
- **Advocates:** Mrinal Harsh…; Naman Si…; +6 more

## Timeline

- **07.01.2026 — Hearing…**: Counsel for the Appellant and the Resolution…
- **11.11.2025 — Order by Adjudicating…**: Order passed by the Adjudicating Authority (National Company Law Tribunal) Kolkata Bench,…

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