# In the matter of Aftek Infrastructures Pvt. Ltd. CA No. 27-2020 CP(IB) No. 381-ALD-2018

> NCLT judgment dated 2020-01-27. Citation: TCN-2020-NCLT-02166. The case pertains to an application filed on behalf of Mr. Anil Tayal under Section 27 of the…

- **Court:** NCLT
- **Order date:** 27 Jan 2020
- **Citation:** TCN-2020-NCLT-02166
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aftek-infrastructures-pvt-ltd-ca-no-27-2020-cpib-no-381-ald-2018-a7a3be7c

## Summary

### Background

The case pertains to an application filed on behalf of Mr. Anil Tayal under Section 27 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 3 of the IBBI (CIRP) regulations, 2016, seeking the replacement of the existing Resolution Professional with a proposed Resolution Professional. The Committee of Creditors (CoC) convened a meeting on December 26, 2019, where a resolution was proposed to replace the existing Resolution Professional. The members of the CoC, with 79.62% votes in favor through e-voting, proposed the name of Mr. Ashok Kumar Juneja.

## Facts

Pankaj Singh & Anr are the Financial Creditors. Aftek Infrastructures Private Limited is the Corporate Debtor. Mr. Anil Tayal, is the Applicant/Authorised representative of COC, filed an application under Section 27 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 3 of the IBBI (CIRP) regulations, 2016, to replace the existing Resolution Professional. The CoC convened a meeting on 26.12.2019, and proposed Mr. Ashok Kumar Juneja as the new Resolution Professional with 79.62% votes in favor. The previous IRP was Mr. S. K. Jha, appointed on 23.10.2019.

## Issues and analysis

### Issue 1: Whether the existing Resolution Professional should be replaced by the proposed Resolution …

**Ratio:** Section 27 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 3 of the

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**Reasoning:** The CoC, with 79.62% votes in favor, proposed the name of Mr. Ashok Kumar Juneja to

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**Interpretation:** Section 27 of the IBC provides a mechanism for the CoC to replace a Resolution

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**Application:** In this case, the CoC voted in favor of replacing the existing Resolution

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## Parties

- **Judges:** Rajesh Daya…
- **Appellants:** Pankaj…
- **Respondents:** Aftek Infrastructu…

## Timeline

- **2019-10-23 — Appointment…**: Mr. S. K. Jha was appointed as the Interim Resolution Professional (IRP) of the Corporate…
- **2019-12-26 — CoC Meet…**: The second meeting of the Committee of Creditors (CoC) was convened, where a resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 27 — Replacement of resolution professional by…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-27)

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