# In the matter of CP (IB) 1497-MB-C-IV-2019 CP (IB) 1497/MB/C-IV/2019

> NCLT judgment dated 2019-10-25. Citation: TCN-2019-NCLT-00795. The case pertains to CP(IB)-1497/MB-IV/2019, filed under Section 9 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 25 Oct 2019
- **Citation:** TCN-2019-NCLT-00795
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/cp-ib-1497-mb-c-iv-2019-cp-ib-1497mbc-iv2019-8840f4ac

## Summary

### Background

The case pertains to CP(IB)-1497/MB-IV/2019, filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The matter concerns Scorpion Express Private Limited, the Operational Creditor, versus Gufic Bioscience Limited, the Corporate Debtor. The order was delivered on October 25, 2019.

## Facts

Scorpion Express Private Limited initiated insolvency proceedings against Gufic Bioscience Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had previously passed an order on October 22, 2019, related to this matter. The current order, dated October 25, 2019, appoints Mr. Indrajit Mukherjee as the Interim Resolution Professional (IRP) to further the insolvency resolution process. Mr. Mukherjee's contact information is provided, and he is directed to take immediate steps in the matter. The case is being heard by the National Company Law Tribunal, Mumbai Bench-IV.

## Issues and analysis

### Issue 1: Whether the appointment of Mr. Indrajit Mukherjee as the Interim Resolution Professional (IRP) is …

**Ratio:** The ratio is based on the Adjudicating Authority's power to appoint an IRP under the

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**Reasoning:** The Adjudicating Authority, in continuation of its previous order, found it necessary to

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**Interpretation:** The interpretation involves the Adjudicating Authority's role in appointing an

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**Application:** The ratio and reasoning are applied to the specific facts by appointing Mr.

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## Parties

- **Judges:** Rajasekha…; Ravikumar…; +1 more
- **Respondents:** Gufic Bioscience…

## Timeline

- **2019-10-22 — Previous…**: An order was passed by the…
- **2019-10-25 — Appointment…**: Mr. Indrajit Mukherjee is appointed as the…

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