# In the matter of Sabari Realtors Pvt. Ltd. IA-343-IB-2020 in IBA-471-2019

> NCLT judgment dated 2020-06-15. Citation: TCN-2020-NCLT-01167. The case involves an application IA/343/IB/2020 in IBA/471/2019 before the National Company Law…

- **Court:** NCLT
- **Order date:** 15 Jun 2020
- **Citation:** TCN-2020-NCLT-01167
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sabari-realtors-pvt-ltd-ia-343-ib-2020-in-iba-471-2019-d6838556

## Summary

### Background

The case involves an application IA/343/IB/2020 in IBA/471/2019 before the National Company Law Tribunal (NCLT), Chennai Bench. The Tribunal is addressing the confirmation of a Resolution Professional (RP) as proposed by the Committee of Creditors (CoC) and appointed by the Tribunal. The Insolvency and Bankruptcy Board of India (IBBI) issued directions, and a communication was received confirming no adverse record regarding the appointed RP, Mr. S.Amarendran.

## Facts

The application IA/343/IB/2020 was filed in connection with IBA/471/2019. The case was heard by the Chennai Bench of the National Company Law Tribunal (NCLT) on June 15, 2020. The application concerns the appointment of a Resolution Professional (RP) for a Corporate Debtor under Section 27 of the Insolvency and Bankruptcy Code (IBC) 2016. The Committee of Creditors (CoC) proposed Mr. S.Amarendran as the RP, and the Tribunal sought confirmation from the Insolvency and Bankruptcy Board of India (IBBI). The IBBI confirmed that there were no adverse records concerning Mr. S.Amarendran. The Tribunal then directed the outgoing Interim Resolution Professional to hand over all relevant documents and assets to the newly appointed RP.

## Issues and analysis

### Issue 1: Whether the Resolution Professional proposed by the Committee of Creditors should be appointed and …

**Ratio:** The Tribunal has the authority to appoint a Resolution Professional based on the proposal

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**Reasoning:** The Tribunal considered the communication from the IBBI confirming that there were no

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**Interpretation:** Section 27 of the IBC 2016 allows for the replacement of the Interim Resolution

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**Application:** Since the IBBI confirmed no adverse records, the Tribunal applied the ratio and

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** T.KUMER…
- **Respondents:** SABARI REALTORS…
- **Advocates:** A.G. Sathyanarayan…

## Timeline

- **2020-05-26 — Tribunal Dir…**: Tribunal issued directions to Insolvency and Bankruptcy Board of India (IBBI) to confirm…
- **2020-06-02 — Communication…**: Communication received confirming no adverse record in relation to the RP appointed by…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 27 — Replacement of resolution professional by…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-27)

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