# In the matter of ABP Apparels Private Limited

> NCLT judgment dated 2023-09-25. Citation: TCN-2023-NCLT-01487. 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-01487
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/abp-apparels-private-limited-761afa78

## 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 by ABP Apparels Private Limited itself under Section 10 of the Code, which was admitted on 15.06.2023. Mr. Santanu Bhattacharjee was appointed as the IRP. The IRP made a public announcement on 17.06.2023, and the last date for submission of claims was 29.06.2023. The IRP constituted a Committee of Creditors on 07.07.2023, which was later reconstituted on 30.07.2023 due to

…

## Facts

The Corporate Debtor, ABP Apparels Private Limited, initiated Corporate Insolvency Resolution Process (CIRP) by filing an application under Section 10 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 15.06.2023, and Mr. Santanu Bhattacharjee was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement on 17.06.2023, with the last date for submission of claims being 29.06.2023. A Committee of Creditors (CoC) was constituted on 07.07.2023 and later reconstituted on 30.07.2023. In a meeting held on 31.07.2023, the CoC resolved to replace the IRP, Mr. Santanu Bhattacharjee, with Mr. Kinjalkumar Madhubhai Chaudhary, with 70.05% voting approval. The CoC filed an application under Section 22(3)(b) of the IBC

…

## Issues and analysis

### Issue 1: Whether the application filed by the Committee of Creditors (CoC) under Section 22(3)(b) of the …

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

…

**Reasoning:** The court considered the fact that the CoC, in its meeting held on 31.07.2023, approved

…

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

…

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

…

## Parties

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

## Timeline

- **2023-06-15 — CIRP Admi…**: The application filed by ABP Apparels Private Limited under Section 10 of the Code for…
- **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)

---

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-division-bench-court-i-chenn/abp-apparels-private-limited-761afa78