# In the matter of AJS Impex Private Limited

> NCLT judgment dated 2023-09-04. Citation: TCN-2023-NCLT-01778. The case involves an Interlocutory Application (IA 3978/2023) filed in C.P. (IB)/93(MB)2022.…

- **Court:** NCLT
- **Order date:** 4 Sept 2023
- **Citation:** TCN-2023-NCLT-01778
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ajs-impex-private-limited-8c1abbf9

## Summary

### Background

The case involves an Interlocutory Application (IA 3978/2023) filed in C.P. (IB)/93(MB)2022. The applicant, Hemant Kumar Shah, the Resolution Professional of the Corporate Debtor, seeks to be replaced by Mr. Ankit Goel as the Resolution Professional. The reason for the replacement is that Hemant Kumar Shah has received a job opportunity with a Government of India undertaking in Dadra & Nagar Haveli, Daman and Diu as Chief Financial Officer.

## Facts

Hemant Kumar Shah, the Resolution Professional of the Corporate Debtor, filed an Interlocutory Application (IA 3978/2023) seeking to be replaced. Hemant Kumar Shah received a job opportunity with a Government of India undertaking in Dadra & Nagar Haveli, Daman and Diu as Chief Financial Officer. The applicant proposed Mr. Ankit Goel as the replacement Resolution Professional. The court noted that the resolution passed by the Committee of Creditors (CoC) was unclear regarding whether the Insolvency Professional is being appointed as a designated partner or in an individual capacity. The court directed the applicant to seek instructions from the client on this matter.

## Issues and analysis

### Issue 1: Whether the Resolution Professional can …

**Ratio:** The Insolvency and Bankruptcy Code (IBC) allows for the replacement of a Resolution

…

**Reasoning:** The court is considering the applicant's request to be replaced as the Resolution

…

**Interpretation:** The IBC provides a mechanism for replacing a Resolution Professional if there

…

**Application:** In this case, the applicant's job opportunity is a valid reason for seeking

…

## Parties

- **Judges:** Prabhat…; V.G. B…
- **Appellants:** Hemant Kuma…
- **Respondents:** AJS Impex Private…

## Timeline

- **2023-09-04 — Order Sheet of…**: Hearing on IA 3978/2023 regarding the…
- **2023-09-05 — Next Hearin…**: Case adjourned to 05.09.2023 for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 27 — Replacement of resolution professional by…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-27)

---

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/ajs-impex-private-limited-8c1abbf9