# In the matter of J.M.L. Marketings Pvt. Ltd. IA No. 194-2022 in CP (IB) No. 218-ALD-2019

> NCLT judgment dated 2022-07-06. Citation: TCN-2022-NCLT-04607. An application (IA No. 194/2022) was filed under Section 22(3)(b) of the IBC, 2016, by the…

- **Court:** NCLT
- **Order date:** 6 Jul 2022
- **Citation:** TCN-2022-NCLT-04607
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/jml-marketings-pvt-ltd-ia-no-194-2022-in-cp-ib-no-218-ald-2019-15d013ac

## Summary

### Background

An application (IA No. 194/2022) was filed under Section 22(3)(b) of the IBC, 2016, by the Committee of Creditors (CoC) for the appointment of Mr. Madan Mohan Dhupar as the Resolution Professional (RP) in place of Mr. Shailesh Verma IRP.

## Facts

The application was filed under Section 22(3)(b) of the IBC, 2016.

The CoC approved the replacement of the IRP with a 72.04% voting share.

The advocate for the IRP, Mr. Shailesh Verma, had no objection to the replacement.

The IRP fees and other charges had not been paid.

The applicant assured that the outstanding fees would be paid upon ratification by the CoC.

## Issues and analysis

### Issue 1: Whether the application for replacement of the Interim Resolution Professional (IRP) by the …

**Ratio:** Section 22(3)(b) of the IBC, 2016 allows the CoC to replace the IRP with a Resolution

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**Reasoning:** The CoC, having approved the replacement with a majority vote (72.04%), has the authority

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**Interpretation:** The provision grants the CoC the power to

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**Application:** The court applied Section 22(3)(b) to allow the replacement of the IRP based on

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** American Express…; CoC…
- **Respondents:** JML MARKETINGS…
- **Other parties:** Madan Mohan…; Shailesh…
- **Advocates:** Abhishek…; Ankita B…; +1 more

## Timeline

- **2022-07-06 — Hearing…**: Hearing held on 6th…
- **2022-06-08 — CoC Meet…**: 2nd Meeting of CoC held on 08th June, 2022, where the replacement of the IRP was approved…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 22(3) — Appointment of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-22)

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