# In the matter of Silk Woven Sack Pvt. Ltd. C.P. (I.B) No. 123-9-NCLT-AHM-2019

> NCLT judgment dated 2020-01-06. Citation: TCN-2020-NCLT-02486. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 6 Jan 2020
- **Citation:** TCN-2020-NCLT-02486
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/silk-woven-sack-pvt-ltd-cp-ib-no-123-9-nclt-ahm-2019-98de35e0

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by an Operational Creditor against a Corporate Debtor. The Adjudicating Authority admitted the petition but noted that the Petitioner/Operational Creditor had not suggested an Interim Resolution Professional (IRP).

## Facts

Jai Corp Ltd filed a petition against Silk Woven Sack Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the petition. The Operational Creditor did not propose an Interim Resolution Professional (IRP). The Adjudicating Authority then appointed Shri Anish Babubhai Shah as the IRP. The date of commencement of CIRP is 06.01.2020.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can appoint an Interim Resolution Professional (IRP) when the …

**Ratio:** The Adjudicating Authority has the power to appoint an IRP from the panel prepared by the

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**Reasoning:** The court reasoned that while it is not mandatory for the applicant to propose an IRP,

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**Interpretation:** Section 9 of the IBC, 2016, is interpreted to mean that the absence of a

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**Application:** In this case, since the Operational Creditor did not propose an IRP, the

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## Parties

- **Judges:** Harihar Prakash…; Prasanta Kumar…
- **Appellants:** Jai Cor…
- **Respondents:** Silk Woven Sack…

## Timeline

- **2019-11-06 — Previous…**: Reference to the order dated…
- **2020-01-06 — Order Date and CIRP…**: The Adjudicating Authority appointed Shri Anish Babubhai Shah as the Interim Resolution…

## 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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