# In the matter of Kamrup Housing Projects Pvt. Ltd. (IB)-936(PB)-2018

> NCLT judgment dated 2019-04-26. Citation: TCN-2019-NCLT-03679. The case involves an application for the appointment of a Resolution Professional (RP) in an…

- **Court:** NCLT
- **Order date:** 26 Apr 2019
- **Citation:** TCN-2019-NCLT-03679
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kamrup-housing-projects-pvt-ltd-ib-936pb-2018-7373db93

## Summary

### Background

The case involves an application for the appointment of a Resolution Professional (RP) in an ongoing Insolvency Resolution Process (CIRP). The existing Interim Resolution Professional (IRP), Mr. Sumit Shukla, is being replaced. The application is supported by a resolution passed by the Committee of Creditors (CoC) with 89.7% voting share. The CoC decided to replace the existing IRP due to fee issues, expense issues, and issues in the creditors list.

## Facts

Sanjeev Memorial Foundation filed an application against Kamrup Housing Projects Pvt Ltd under Section 7 of the Insolvency & Bankruptcy Code (CIRP). The Committee of Creditors (CoC) passed a resolution with 89.7% voting share to replace the existing Interim Resolution Professional (IRP), Mr. Sumit Shukla, with Mr. Surendra Khinvasra. The reasons for the replacement included fee issues, expense issues, and issues in the creditors list. A draft amounting to Rs. 4,48,021/- dated 25.04.2019 and a cheque amounting to Rs. 17,941/- dated 26.04.2019 were handed over to the counsel for the earlier IRP Mr. Sumit Shukla, settling his fees and expenses from 13.02.2019 to 28.02.2019. Mr. Shyam Arora, representing a Financial Creditor, proposed the replacement of the IRP.

## Issues and analysis

### Issue 1: Whether Mr. Surendra Khinvasra should be appointed as the Resolution Professional, replacing the …

**Ratio:** The decision of the Committee of Creditors (CoC) holds significant weight in the

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**Reasoning:** The court based its decision on the resolution passed by the CoC with 89.7% voting share,

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**Interpretation:** The Insolvency and Bankruptcy Code (IBC) allows for the replacement of an IRP

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**Application:** In this case, the CoC's decision to replace Mr. Sumit Shukla with Mr. Surendra

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** Sanjeev Memorial…
- **Respondents:** Kamrup Housing…

## Timeline

- **2019-02-13 — IRP Fee and Expenses…**: Start date for the period of fees and…
- **2019-02-28 — IRP Fee and Expenses…**: End date for the period of fees and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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