# 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-00294. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 6 Dec 2019
- **Citation:** TCN-2019-NCLT-00294
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/krushna-cotex-private-limited-cp-ib-4510-mb-c-iv-2018-3808d494

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. Arihant Packers, an Operational Creditor, filed a case against Krushna Cotex Private Limited, the Corporate Debtor, before the National Company Law Tribunal (NCLT), Mumbai Bench-IV. The case number is CP(IB) No. 4510/MB/C-IV/2018.

## Facts

Arihant Packers, an Operational Creditor, initiated insolvency proceedings against Krushna Cotex Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT Mumbai Bench-IV is hearing the case, numbered CP(IB) No. 4510/MB/C-IV/2018. The Adjudicating Authority has appointed Mr. Harish Kant Kaushik as the Interim Resolution Professional (IRP) to take further steps in the matter. The order is a continuation of an earlier order dated 2019-11-21.

## Issues and analysis

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

**Ratio:** The Adjudicating Authority has the power to appoint an Interim Resolution Professional

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**Reasoning:** The Adjudicating Authority considered it necessary to appoint an IRP to ensure the smooth

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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:** The Adjudicating Authority appointed Mr. Harish Kant Kaushik as the IRP and

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## Parties

- **Judges:** Rajasekha…; Ravikumar…; +1 more
- **Appellants:** Arihant P…
- **Respondents:** Krushna Cotex…

## Timeline

- **2018-01-01 — Case Fil…**: CP(IB) No. 4510/MB/C-IV/…
- **2019-11-21 — Previous…**: An order was passed by the…

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