# In the matter of Alchemist Township India Ltd. (IB)-1082(PB)-2018

> NCLT judgment dated 2020-11-24. Citation: TCN-2020-NCLT-00217. The case involves an application for the appointment of Mr. Devendra Singh as the Resolution…

- **Court:** NCLT
- **Order date:** 24 Nov 2020
- **Citation:** TCN-2020-NCLT-00217
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/alchemist-township-india-ltd-ib-1082pb-2018-65328bd2

## Summary

### Background

The case involves an application for the appointment of Mr. Devendra Singh as the Resolution Professional, replacing Mr. Pramod Goel, IRP. The application was moved by the Committee of Creditors (CoC) based on a proposal made via resolution dated 23.10.2020.

## Facts

The Committee of Creditors (CoC) proposed the appointment of Mr. Devendra Singh as the Resolution Professional, replacing Mr. Pramod Goel, IRP. This proposal was formalized through a resolution passed on 2020-10-23. The application, numbered IA-5099/2020, was presented before the National Company Law Tribunal (NCLT). Mr. Devendra Singh's registration number is IBBI/IPA-002/IP-N00001/2016-17/10001. The application was filed under Section 7 of the Insolvency and Bankruptcy Code.

## Issues and analysis

### Issue 1: Whether the application (IA-5099/2020) for the appointment of Mr. Devendra Singh as Resolution …

**Ratio:** The court has the authority to appoint a Resolution Professional based on the proposal

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**Reasoning:** The court considered the CoC's resolution and found it appropriate to appoint Mr.

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**Interpretation:** The interpretation of the relevant provisions of the Insolvency and Bankruptcy

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**Application:** Based on the CoC's proposal and the court's assessment, Mr. Devendra Singh was

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## Parties

- **Judges:** SH. B.S.V.…; Sh. Hemant Kumar…
- **Appellants:** Kiran Mal…
- **Respondents:** Alchemist…

## Timeline

- **2020-10-23 — CoC Resol…**: The Committee of Creditors (CoC) passed a resolution proposing the appointment of Mr.…
- **2020-11-24 — Order Del…**: The NCLT delivered the order allowing the application (IA-5099/2020) and appointing Mr.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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