# In the matter of Jeypore Sugars Company Ltd. MA-364-2019 in CP-1307-IB-2018

> NCLT judgment dated 2019-04-22. Citation: TCN-2019-NCLT-03773. The case involves an application (MA/364/2019) within the context of a corporate insolvency…

- **Court:** NCLT
- **Order date:** 22 Apr 2019
- **Citation:** TCN-2019-NCLT-03773
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jeypore-sugars-company-ltd-ma-364-2019-in-cp-1307-ib-2018-6360ff1f

## Summary

### Background

The case involves an application (MA/364/2019) within the context of a corporate insolvency resolution process (CP/1307/IB/2018). The Interim Resolution Professional (IRP) has presented a resolution from the Committee of Creditors to continue the IRP as the Resolution Professional (RP).

## Facts

The Interim Resolution Professional (IRP) presented a resolution from the Committee of Creditors to the NCLT Chennai bench. The resolution proposed the continuation of the IRP as the Resolution Professional (RP) for the Corporate Debtor, Jeypore Sugars Company Ltd. This resolution was communicated to the bench under Section 22(3)(a) of the Insolvency & Bankruptcy Code. The NCLT bench considered this application and the fact that the IRP was continuing as RP.

## Issues and analysis

### Issue 1: Whether the application to continue the Interim Resolution Professional (IRP) as the Resolution …

**Ratio:** The legal principle applied is that the decision of the Committee of Creditors regarding

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**Reasoning:** The court's reasoning is based on the fact that the Committee of Creditors had resolved

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**Interpretation:** Section 22(3)(a) of the Insolvency & Bankruptcy Code is interpreted to mean

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**Application:** The ratio and reasoning are applied to the specific facts of the case by

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** IDBI Bank…
- **Respondents:** JEYPORE SUGARS…

## Timeline

- **2019-04-22 — Hearing…**: Hearing of the Chennai Bench of the National…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 22(3) — Appointment of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-22)

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