# In the matter of Maa Durga Thermal Power Company Ltd. CA (IB) No. 816-KB-2018 in C.P.(IB) No. 129-KB-2018

> NCLT judgment dated 2018-09-05. Citation: TCN-2018-NCLT-00825. The case involves an application filed by the Committee of Creditors under Section 22(3) of the…

- **Court:** NCLT
- **Order date:** 5 Sept 2018
- **Citation:** TCN-2018-NCLT-00825
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maa-durga-thermal-power-company-ltd-ca-ib-no-816-kb-2018-in-cpib-no-129-kb-2018-b4c42ab7

## Summary

### Background

The case involves an application filed by the Committee of Creditors under Section 22(3) of the Insolvency and Bankruptcy Code for the change of the Interim Resolution Professional (IRP). Mr. Pankaj Dhanoka was appointed as Resolution Professional by a vote share of 72.01%, and approval for the appointment was sought.

## Facts

The Committee of Creditors filed an application under Section 22(3) of the Insolvency and Bankruptcy Code to change the Interim Resolution Professional (IRP). Mr. Pankaj Dhanoka was appointed as Resolution Professional with a 72.01% vote share. The court was requested to approve the appointment. The court approved the appointment subject to verification with IBBI and directed the existing IRP to handover all records to the new Resolution Professional. The case was listed for further progress report on 26/09/2018.

## Issues and analysis

### Issue 1: Whether the appointment of Mr. Pankaj Dhanoka as …

**Ratio:** The court has the power to approve the appointment of a Resolution Professional based on

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**Reasoning:** The court considered the application and the vote share supporting the appointment of Mr.

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**Interpretation:** Section 22(3) of the Insolvency and Bankruptcy Code allows the Committee of

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**Application:** The court applied the principle by approving the appointment of Mr. Pankaj

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## Parties

- **Judges:** Jinan…
- **Respondents:** Maa Durga Thermal…; SREI EQUIPMENT…

## Timeline

- **2018-08-14 — Resolutio…**: Resolution was passed on 14/08/2018 to appoint Mr. Pankaj Dhanoka as Resolution…
- **2018-09-05 — Order Da…**: The court approved the appointment of Mr. Pankaj Dhanoka as Resolution Professional,…

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