# In the matter of SRK Kitchen Appliances Private Limited

> NCLT judgment dated 2018-08-21. Citation: TCN-2018-NCLT-00916. The case involves M/s. Butterfly Appliance Vs. SRK Kitcher Appliances Pvt. Ltd. The petition…

- **Court:** NCLT
- **Order date:** 21 Aug 2018
- **Citation:** TCN-2018-NCLT-00916
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/srk-kitchen-appliances-private-limited-1a89288f

## Summary

### Background

The case involves M/s. Butterfly Appliance Vs. SRK Kitcher Appliances Pvt. Ltd. The petition was admitted on August 1, 2018, and Sh. Rajiv Chopra was appointed as IRP. However, he expressed his inability to accept the assignment due to family circumstances.

## Facts

The case pertains to M/s. Butterfly Appliance Vs. SRK Kitcher Appliances Pvt. Ltd. An order was passed on August 1, 2018, admitting the petition and appointing Sh. Rajiv Chopra as the Interim Resolution Professional (IRP). Sh. Rajiv Chopra subsequently expressed his inability to accept the assignment due to compelling family circumstances. The Operational Creditor proposed the name of Mr. Praveen Kumar Rai as the new IRP. Mr. Praveen Kumar Rai has also submitted the declaration in Form-2. The court then appointed Sh. Praveen Kumar Rai as the IRP. The case is listed for further consideration on September 14, 2018.

## Issues and analysis

### Issue 1: Whether Mr. Praveen Kumar Rai can be appointed as the Interim Resolution Professional (IRP) in …

**Ratio:** The court has the authority to appoint an IRP based on the proposal of the Operational

…

**Reasoning:** Sh. Rajiv Chopra expressed his inability to accept the assignment as IRP. The Operational

…

**Interpretation:** The legal interpretation allows for the replacement of an IRP who is unable to

…

**Application:** Given Sh. Rajiv Chopra's inability to serve as IRP and the Operational

…

## Parties

- **Judges:** Saroj Ra…; V. P. S…
- **Appellants:** Shahid…
- **Respondents:** SRK Kitcher…
- **Advocates:** Shahid…; Praveen Kum…

## Timeline

- **2018-08-01 — Petition Ad…**: The petition was admitted, and Sh.…
- **N/A — IRP Declines A…**: Sh. Rajiv Chopra expressed his inability to accept the assignment as IRP due to family…

## 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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