# In the matter of Bhagwati Rail Infra Pvt. Ltd. IA No. 130-2020 in CP No. (IB)80-ALD-2019

> NCLT judgment dated 2020-06-10. Citation: TCN-2020-NCLT-01205. The case pertains to IA No.130/2020 in CP No.(IB)80/ALD/2019 before the National Company Law…

- **Court:** NCLT
- **Order date:** 10 Jun 2020
- **Citation:** TCN-2020-NCLT-01205
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bhagwati-rail-infra-pvt-ltd-ia-no-130-2020-in-cp-no-ib80-ald-2019-59856d7d

## Summary

### Background

The case pertains to IA No.130/2020 in CP No.(IB)80/ALD/2019 before the National Company Law Tribunal, Allahabad Bench. The matter was heard through video conferencing. The application was filed under Section 27(3) of the Insolvency and Bankruptcy Code (IBC) for the replacement of the existing Resolution Professional (RP) and the appointment of a new RP.

## Facts

The Committee of Creditors (CoC) of Bank of India V/S Bhagwati Rail Infra Pvt. Ltd. filed an application (IA No.130/2020) under Section 27(3) of the IBC in CP NO.(IB)80/ALD/2019 seeking the replacement of the existing Resolution Professional (RP), Mr. Aditya Agarwal, with Mr. Shravan Kumar Vishnoi. The CoC, in its meeting held on 03.03.2020, resolved with a 100% voting share to appoint Mr. Shravan Kumar Vishnoi as the new RP. The application was presented before the National Company Law Tribunal (NCLT), Allahabad Bench, on 10.06.2020.

## Issues and analysis

### Issue 1: Whether the application (IA No.130/2020) filed by the CoC under Section 27(3) of the IBC for the …

**Ratio:** Section 27(3) of the IBC provides the legal basis for the CoC to apply for the

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**Reasoning:** The court considered the CoC's application filed under Section 27(3) of the IBC, which

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**Interpretation:** Section 27(3) of the IBC is interpreted to grant the CoC the power to seek the

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**Application:** The CoC's application, being filed under Section 27(3) of the IBC, is deemed

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## Parties

- **Judges:** Rajesh Daya…
- **Respondents:** BANK OF INDIA V/S…

## Timeline

- **2020-03-03 — CoC Meet…**: The CoC held a meeting and resolved with 100% voting share to appoint Mr. Shravan Kumar…
- **2020-06-10 — Hearing…**: The matter was taken up through video…

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