# In the matter of Krushna Cotex Private Limited CP (IB) 4510-MB-C-IV-2018

> NCLT judgment dated 2019-12-06. Citation: TCN-2019-NCLT-00288. The case pertains to CP(IB) No. 4510/MB/C-IV/2018 filed under Section 9 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 6 Dec 2019
- **Citation:** TCN-2019-NCLT-00288
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/krushna-cotex-private-limited-cp-ib-4510-mb-c-iv-2018-2da01d15

## Summary

### Background

The case pertains to CP(IB) No. 4510/MB/C-IV/2018 filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The matter involves Arihant Packers, an Operational Creditor, versus Krushna Cotex Private Limited, the Corporate Debtor. The order was delivered on December 6, 2019.

## Facts

Arihant Packers, an Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Krushna Cotex Private Limited, the Corporate Debtor. The Adjudicating Authority, in continuation of a previous order dated November 21, 2019, appointed Mr. Harish Kant Kaushik as the Interim Resolution Professional (IRP). Mr. Kaushik's registration number is IBBI/IPA-001/IP-P01469/2018-2019/12340, and his contact details are provided. The order directs the IRP to take further steps in the matter immediately. The case is CP(IB) No. 4510/MB/C-IV/2018.

## Issues and analysis

### Issue 1: Whether Mr. Harish Kant Kaushik should be appointed as the Interim Resolution Professional (IRP) …

**Ratio:** The Adjudicating Authority has the power to appoint an IRP to manage the affairs of the

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

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**Interpretation:** The appointment of an IRP is a crucial step in the CIRP, as the IRP is

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**Application:** Given the circumstances and the need for an IRP, Mr. Harish Kant Kaushik was

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Arihant P…
- **Respondents:** Krushna Cotex…

## Timeline

- **2019-11-21 — Previous…**: An order was passed by the…
- **2019-12-06 — Order Del…**: Mr. Harish Kant Kaushik appointed as…

## 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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