# In the matter of Warasgaon Asset Maintenance Ltd. MA 956-2019 In CP(IB) 1757(MB)-2018

> NCLT judgment dated 2019-03-29. Citation: TCN-2019-NCLT-04260. The case involves MA 956/2019 filed under Section 22 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 29 Mar 2019
- **Citation:** TCN-2019-NCLT-04260
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/warasgaon-asset-maintenance-ltd-ma-956-2019-in-cpib-1757mb-2018-01e017ef

## Summary

### Background

The case involves MA 956/2019 filed under Section 22 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the appointment of a Resolution Professional. An earlier order of the court dated December 17th/20th, 2018, admitted a petition and appointed R1 as Interim Resolution Professional for the Corporate Debtor. However, the appointment of R1 was not approved by the Committee of Creditors (CoC) in the 1st CoC meeting held on January 18, 2019. At the 3rd CoC meeting, the CoC approved the appointment of R2 as the Resolution Professional. The applicant has attached the consent form of the Resolution professional along with the minutes of the CoC with attendance sheet which shows that resolution for the appointment of Mr. Abhilash Lal has been approved by 100% vote

…

## Facts

Raj Infrastructure Development (India) Pvt Ltd filed a petition. An order was passed on December 17th/20th, 2018, admitting the petition and appointing R1 as Interim Resolution Professional for the Corporate Debtor. The Corporate Debtor is Warasagaon Assets Maintenance Ltd. The 1st CoC meeting on January 18, 2019, did not approve R1's appointment. The 3rd CoC meeting approved the appointment of R2 as Resolution Professional. The applicant attached the consent form and CoC minutes showing 100% vote share approval for Mr. Abhilash Lal's appointment.

## Issues and analysis

### Issue 1: Whether MA 956/2019 should be allowed, leading to …

**Ratio:** The court gives deference to the decision of the Committee of Creditors (CoC) in the

…

**Reasoning:** The court considered the fact that the CoC had approved the appointment of R2 as the

…

**Interpretation:** This highlights the importance of the CoC's role in the insolvency resolution

…

**Application:** In this case, the court applied the ratio by allowing MA 956/2019 and

…

## Parties

- **Judges:** V. P. S…; RavikumarDu…
- **Appellants:** Raj Infrastructure…
- **Respondents:** Warasagaon Assets…

## Timeline

- **2018-12-17 — Petition Ad…**: The court admitted the petition and appointed R1 as Interim Resolution Professional for…
- **2019-01-18 — 1st CoC M…**: The appointment of R1 was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 22 — Appointment of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-22)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/warasgaon-asset-maintenance-ltd-ma-956-2019-in-cpib-1757mb-2018-01e017ef