# In the matter of Trans-Fab Power India Pvt. Ltd. MA 4117-2019 in C.P.(IB)- 3641-(MB)-2018

> NCLT judgment dated 2020-02-05. Citation: TCN-2020-NCLT-02065. MA 4117/2019 was filed by the Committee of Creditors (CoC) for the replacement of the…

- **Court:** NCLT
- **Order date:** 5 Feb 2020
- **Citation:** TCN-2020-NCLT-02065
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trans-fab-power-india-pvt-ltd-ma-4117-2019-in-cpib-3641-mb-2018-aa721093

## Summary

### Background

MA 4117/2019 was filed by the Committee of Creditors (CoC) for the replacement of the Resolution Professional (RP) under Section 22 of the Insolvency and Bankruptcy Code (IBC), 2016. The application is based on a resolution passed by the CoC with 100% voting in a meeting held on October 31, 2019.

## Facts

The Committee of Creditors (CoC) filed MA 4117/2019 seeking the replacement of the Resolution Professional (RP) under Section 22 of the Insolvency and Bankruptcy Code (IBC), 2016. The CoC's decision was based on a resolution passed with 100% voting during a meeting held on October 31, 2019. The court reviewed the application and found it to be in consonance with Section 22 of the Code. Consequently, Mr. Deepak Mohanlal Panpaliya was appointed as the new RP, replacing Mr. Laxman Pawar.

## Issues and analysis

### Issue 1: Whether the application for replacement of the Resolution Professional (RP) under Section 22 of the …

**Ratio:** Section 22 of the IBC, 2016, allows for the replacement of the RP based on a resolution

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**Reasoning:** The court found that the application was in consonance with Section 22 of the IBC, as it

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**Interpretation:** Section 22 of the IBC provides a mechanism for the CoC to replace the RP if

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**Application:** The court applied Section 22 to the facts of the case, noting that the CoC had

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## Parties

- **Judges:** SUCHITRA KANUPARTH…; V. Nallasen…; +1 more
- **Appellants:** AMOD STAMPINGS…
- **Respondents:** Trans Fab Power…

## Timeline

- **2019-10-31 — CoC Meet…**: A meeting of the Committee of Creditors (CoC) was held, during which a resolution was…
- **2020-02-05 — Order Shee…**: The order sheet of the hearing of the Mumbai Bench of the National Company Law Tribunal…

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