# In the matter of ABP Apparels Private Limited

> NCLT judgment dated 2023-09-25. Citation: TCN-2023-NCLT-01495. This is an application filed by the Committee of Creditors (CoC) represented through HDFC Bank…

- **Court:** NCLT
- **Order date:** 25 Sept 2023
- **Citation:** TCN-2023-NCLT-01495
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/abp-apparels-private-limited-3f9326ea

## Summary

### Background

This is an application filed by the Committee of Creditors (CoC) represented through HDFC Bank Limited under Section 22(3)(b) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the replacement of the present Interim Resolution Professional (IRP) of the Corporate Debtor, ABP Apparels Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application filed by ABP Apparels Private Limited itself under Section 10 of the Code, which was admitted on 2023-06-15. Mr. Santanu Bhattacharjee was appointed as the IRP.

## Facts

On 2023-08-11, an application was filed by the Committee of Creditors (CoC) represented through HDFC Bank Limited, seeking the replacement of the Interim Resolution Professional (IRP) of ABP Apparels Limited. ABP Apparels Private Limited itself filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC) for initiating the Corporate Insolvency Resolution Process (CIRP), which was admitted on 2023-06-15. Mr. Santanu Bhattacharjee was appointed as the IRP. The IRP made a public announcement on 2023-06-17, with the last date for submission of claims by creditors being 2023-06-29. The IRP constituted a Committee of Creditors (CoC) on 2023-07-07, which was later reconstituted on 2023-07-30. The CoC convened its 2nd meeting on 2023-07-31, where it

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## Issues and analysis

### Issue 1: Whether the Committee of Creditors (CoC) can replace the Interim Resolution Professional (IRP) with …

**Ratio:** Section 22(3)(b) of the Insolvency and Bankruptcy Code, 2016, allows the Committee of

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**Reasoning:** The CoC, in its meeting held on 2023-07-31, approved the resolution to replace the IRP,

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**Interpretation:** Section 22(3)(b) provides the CoC with the power to replace the IRP with a

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**Application:** In this case, the CoC followed the procedure outlined in Section 22(3)(b) by

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## Parties

- **Judges:** SHAMMI…; V. G. Venkata…
- **Appellants:** HDFC Bank L…
- **Respondents:** ABP Apparels Pvt…; Santanu Bhattachar…

## Timeline

- **2023-06-15 — CIRP Init…**: Application filed by ABP Apparels Private Limited under Section 10 of the IBC was…
- **2023-06-15 — Appointment…**: Mr. Santanu Bhattacharjee was appointed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 22(3) — Appointment of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-22)

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