# In the matter of PSR Metals Private Limited

> NCLT judgment dated 2025-07-30. Citation: TCN-2025-NCLT-01200. The application IA No.486/2025 was filed in CP (IB) No.45/ALD/2024 seeking the appointment of…

- **Court:** NCLT
- **Order date:** 30 Jul 2025
- **Citation:** TCN-2025-NCLT-01200
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/psr-metals-private-limited-edf7226e

## Summary

### Background

The application IA No.486/2025 was filed in CP (IB) No.45/ALD/2024 seeking the appointment of Ms. Harmeet Kaur as the Resolution Professional (RP) in place of the existing Interim Resolution Professional (IRP), Mr. Pramod Kumar Sharma.

## Facts

IA No.486/2025 was filed seeking the appointment of Ms. Harmeet Kaur as Resolution Professional.

The Applicant, Bank of India, is the sole Financial Creditor and the sole member of the CoC.

The CoC passed a resolution on 28.06.2025 to appoint Ms. Harmeet Kaur in place of Mr. Pramod Kumar Sharma.

Bank of India held 100% shares and voted in favor of the resolution.

The CoC ratified the professional dues and expenses of the IRP.

Ms. Harmeet Kaur holds valid authorization till 30.06.2026 according to the IBBI website.

## Issues and analysis

### Issue 1: Whether the CoC can replace the IRP …

**Ratio:** Section 22(2) of the Insolvency and Bankruptcy Code, 2016 allows the CoC to replace the

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**Reasoning:** The court referred to Section 22(2) of the Code, which explicitly provides for the

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**Interpretation:** The provision grants the CoC the power to decide on the appointment of the RP,

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**Application:** In this case, the Bank of India, being the sole financial creditor with 100%

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** APCO MO…; Bank of…
- **Respondents:** PSR METALS…
- **Other parties:** Harmeet…; Pramod Kumar…
- **Advocates:** Babita…; Nilotpal…; +1 more

## Timeline

- **2025-06-28 — CoC Meet…**: Resolution passed by the CoC for the…
- **2025-07-30 — Order Da…**: Date of the order passed by the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 22(2) — Appointment of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-22)

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