# In the matter of Tripurari Agro Pvt. Ltd. CA No.501-Chd-2019 in CP (IB) No. 118-Chd-Pb-2019

> NCLT judgment dated 2019-07-19. Citation: TCN-2019-NCLT-02427. The case involves an application filed for the substitution of the resolution professional. The…

- **Court:** NCLT
- **Order date:** 19 Jul 2019
- **Citation:** TCN-2019-NCLT-02427
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tripurari-agro-pvt-ltd-ca-no501-chd-2019-in-cp-ib-no-118-chd-pb-2019-bf5475e6

## Summary

### Background

The case involves an application filed for the substitution of the resolution professional. The resolution of the meeting of the Committee of Creditors (CoC) is placed on record for the said substitution. The consent of the incoming Resolution Professional is also placed on record. The counsel for the petitioner informed the court that the Corporate Insolvency Resolution Process (CIRP) costs and professional charges of the outgoing Resolution Professional have already been paid.

## Facts

V.K. Traders, the petitioner and operational creditor, filed an application (CA No. 501/2019) in CP (IB) No. 118/Chd/Pb/2019 seeking the substitution of the resolution professional in the matter of Tripurari Agro Pvt. Ltd., the respondent and corporate debtor. The Committee of Creditors (CoC) had resolved to substitute the resolution professional, and their resolution was placed on record. The incoming resolution professional consented to the substitution, and this consent was also placed on record. The petitioner's counsel informed the court that the CIRP costs and professional charges of the outgoing resolution professional had been paid. The court considered these facts in allowing the application.

## Issues and analysis

### Issue 1: Whether the application for substitution of the resolution professional should be allowed, …

**Ratio:** The substitution of a resolution professional can be permitted when the Committee of

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**Reasoning:** The court reasoned that the application should be allowed because the Committee of

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**Interpretation:** The legal issue revolves around the interpretation of the IBC provisions

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** M.K. Sh…; Pradeep R.…
- **Appellants:** V.K. Tr…
- **Respondents:** Tripurari Agro…

## Timeline

- **2019-07-19 — Order Da…**: The court disposed of CA No. 501/2019, allowing the application for substitution of the…

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