# In the matter of Infonet Asia Pvt. Ltd. MA-349-2019 in CP-536-IB-2017

> NCLT judgment dated 2019-04-23. Citation: TCN-2019-NCLT-03752. The case involves an application filed by the Applicant/Committee of Creditors (UCO Bank) for…

- **Court:** NCLT
- **Order date:** 23 Apr 2019
- **Citation:** TCN-2019-NCLT-03752
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/infonet-asia-pvt-ltd-ma-349-2019-in-cp-536-ib-2017-5f665363

## Summary

### Background

The case involves an application filed by the Applicant/Committee of Creditors (UCO Bank) for the replacement of the present Interim Resolution Professional (IRP) Mr. S. Rajagopal with Mr. Ebenezar Inbaraj. The application is based on a resolution passed in the 3rd Committee of Creditors (CoC) meeting held on 2019-04-22.

## Facts

The Committee of Creditors (CoC), represented by UCO Bank, filed an application to replace the existing Interim Resolution Professional (IRP), Mr. S. Rajagopal, with Mr. Ebenezar Inbaraj. This application stems from a resolution passed during the 3rd CoC meeting held on April 22, 2019. The National Company Law Tribunal (NCLT) is considering forwarding the name of the proposed Resolution Professional to the Insolvency and Bankruptcy Board of India (IBBI) for confirmation. The order also clarifies that the CoC is responsible for covering the fees of the IRP and the Corporate Insolvency Resolution Process (CIRP) costs. The matter was heard on April 23, 2019, and is scheduled to be listed again on May 2, 2019.

## Issues and analysis

### Issue 1: Whether the application for replacement of the Interim Resolution Professional (IRP) by the …

**Ratio:** The CoC has the authority to propose a replacement for the IRP, subject to the approval

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**Reasoning:** The court acknowledges the CoC's decision-making power in the insolvency resolution

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**Interpretation:** The IBC empowers the CoC to manage the CIRP effectively, including the

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**Application:** The court applies this principle by considering the CoC's application for

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Committee of…
- **Respondents:** INFONET ASIA PVT…

## Timeline

- **2017-01-01 — Petition…**: CP/536/IB/2017 was…
- **2019-04-22 — 3rd CoC M…**: The 3rd Committee of Creditors (CoC) meeting was held, where a resolution was passed to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 22(2) — Appointment of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-22)

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