# In the matter of Agh Wires Private Limited

> NCLT judgment dated 2023-11-21. Citation: TCN-2023-NCLT-00671. The Interlocutory Application No.5783/ND/2023 was filed in Company Petition No.…

- **Court:** NCLT
- **Order date:** 21 Nov 2023
- **Citation:** TCN-2023-NCLT-00671
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/agh-wires-private-limited-4baea12d

## Summary

### Background

The Interlocutory Application No.5783/ND/2023 was filed in Company Petition No. (IB)-2926/ND/2019 by Mr. Varun Sethi, the Interim Resolution Professional (IRP) of M/s. AGH Wires Private Limited, seeking to be relieved from his role as IRP due to personal commitments involving a temporary relocation from Delhi/NCR to Pune and the need to care for his ailing mother. The Corporate Insolvency Resolution Process (CIRP) was initiated against AGH Wires Private Limited vide order dated 16.10.2023, and Mr. Sethi was appointed as the IRP.

## Facts

M/s. Elantas Beck India Limited initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. AGH Wires Private Limited under Company Petition No. (IB)-2926/ND/2019. The Adjudicating Authority initiated the CIRP vide order dated 16.10.2023 and appointed Mr. Varun Sethi as the Interim Resolution Professional (IRP). Mr. Sethi filed Interlocutory Application No.5783/ND/2023 seeking to be relieved from his duties as IRP due to personal commitments, specifically a temporary relocation from Delhi/NCR to Pune and the need to care for his ailing mother. The Adjudicating Authority considered Mr. Sethi's application and appointed Mr. Manish Kumar Aggarwal as the new IRP for the period July 1 – December 31, 2023, directing M/s Elantas Beck India Limited to deposit Rs. 2

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## Issues and analysis

### Issue 1: Whether the Interim Resolution Professional (IRP) can be relieved from his duties due to personal …

**Ratio:** An IRP can be relieved from their duties if they demonstrate sufficient cause, such as

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**Reasoning:** The Adjudicating Authority considered the IRP's explanation that he needed to relocate

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**Interpretation:** This interpretation allows for flexibility in the CIRP process, recognizing

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**Application:** In this case, the IRP's personal commitments were deemed sufficient to warrant

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## Parties

- **Judges:** MANNI SANKARIAH…; ATUL CHAT…
- **Appellants:** Varun S…
- **Respondents:** AGH Wires Private…; M/S. AGH WIRES…

## Timeline

- **2019-01-01 — Company Petiti…**: Company Petition No.…
- **2023-10-16 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated against M/s AGH Wires Private…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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