# In the matter of Funbars Hospitality Private Limited IA-4197-2021 in (IB)-642(ND)2020

> NCLT judgment dated 2021-09-21. Citation: TCN-2021-NCLT-01065. The application IA-4197/2021 was filed by the authorized representative of the Committee of…

- **Court:** NCLT
- **Order date:** 21 Sept 2021
- **Citation:** TCN-2021-NCLT-01065
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/funbars-hospitality-private-limited-ia-4197-2021-in-ib-642nd2020-06639636

## Summary

### Background

The application IA-4197/2021 was filed by the authorized representative of the Committee of Creditors (CoC) seeking the appointment of Mr. Anil Tyal as the Resolution Professional. The applicant's counsel stated that an earlier Interim Resolution Professional (IRP) was replaced by Mr. Anil Tyal with 100% voting share of the CoC members during a meeting held on September 3, 2021. The counsel requested the approval of Mr. Anil Tyal's appointment.

## Facts

M/s. Candy Enterprises Private Limited filed an application (IA-4197/2021) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicant, being the authorized representative of the Committee of Creditors (CoC), sought the appointment of Mr. Anil Tyal as the Resolution Professional. The previous Interim Resolution Professional (IRP) was replaced by Mr. Anil Tyal with 100% voting share of the CoC members in a meeting held on September 3, 2021. The Document Management System (DMS) was not functioning, so the petition was shared by the counsel. The applicant requested the court to approve the appointment of Mr. Anil Tyal.

## Issues and analysis

### Issue 1: Whether the appointment of Mr. Anil Tyal as Resolution Professional should be approved, considering …

**Ratio:** The legal principle applied is that the decision of the Committee of Creditors (CoC)

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**Reasoning:** The court reasoned that since the appointment of Mr. Anil Tyal was approved by 100%

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**Interpretation:** The interpretation is that the IBC emphasizes the importance of the CoC's

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**Application:** In this specific case, the 100% voting share approval from the CoC for Mr. Anil

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## Parties

- **Judges:** SHRI. ABNI RANJAN…; SHRI. K.K.…
- **Appellants:** M/s. Candy…
- **Respondents:** M/s. Funbars…
- **Advocates:** Anu Ma…

## Timeline

- **2021-09-03 — CoC Meet…**: The Committee of Creditors (CoC) held a meeting where they approved the replacement of…
- **2021-09-21 — Order Del…**: The order approving the appointment of Mr. Anil Tyal as Resolution Professional was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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