# In the matter of Velani Roadbuilders India Private Limited CP (IB)2092-MB-C-IV-2019

> NCLT judgment dated 2019-12-12. Citation: TCN-2019-NCLT-00218. The case pertains to CP (IB)2092/MB/C-IV/2019 filed under Section 9 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 12 Dec 2019
- **Citation:** TCN-2019-NCLT-00218
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/velani-roadbuilders-india-private-limited-cp-ib2092-mb-c-iv-2019-a256018d

## Summary

### Background

The case pertains to CP (IB)2092/MB/C-IV/2019 filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. The matter is between JSK Corporation Private Limited, the Operational Creditor, and Velani Roadbuilders India Private Limited, the Corporate Debtor.

## Facts

JSK Corporation Private Limited filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Velani Roadbuilders India Private Limited. The Adjudicating Authority passed an order on 10.12.2019. The current order is a continuation of the previous order. Mr. Jitendra Kothari is appointed as the Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether Mr. Jitendra Kothari should be appointed as the Interim Resolution Professional (IRP) for …

**Ratio:** The Adjudicating Authority has the power to appoint an Interim Resolution Professional

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**Reasoning:** The Adjudicating Authority considered it necessary to appoint an IRP to ensure the smooth

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**Interpretation:** The appointment of an IRP is a crucial step in the insolvency resolution

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**Application:** The Adjudicating Authority appointed Mr. Jitendra Kothari as the IRP, based on

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** JSK Corporation…
- **Respondents:** Velani Roadbuilder…

## Timeline

- **2019-12-10 — Previous…**: An order was passed by the…
- **2019-12-12 — Appointment…**: Mr. Jitendra Kothari is appointed as the…

## 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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