# In the matter of Angad Infrastructure Private Limited

> NCLT judgment dated 2024-07-18. Citation: TCN-2024-NCLT-00989. The application IA/3546/2024 was filed under Section 27 read with Section 60(5) of the IBC,…

- **Court:** NCLT
- **Order date:** 18 Jul 2024
- **Citation:** TCN-2024-NCLT-00989
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/angad-infrastructure-private-limited-664159d5

## Summary

### Background

The application IA/3546/2024 was filed under Section 27 read with Section 60(5) of the IBC, 2016, seeking the replacement of the Resolution Professional (RP). The Committee of Creditors (CoC) had previously appointed Mr. Darshan Singh Anand as RP. However, the CoC, with 82.35% voting share, passed a resolution to replace Mr. Darshan Singh Anand with Mr. Shashi Bhushan Prasad.

## Facts

An application, IA/3546/2024, was filed under Section 27 and Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the replacement of the Resolution Professional (RP). The applicant's counsel was heard. Mr. Darshan Singh Anand was initially appointed as RP. The Committee of Creditors (CoC) passed a resolution with 82.35% voting share to replace Mr. Darshan Singh Anand with Mr. Shashi Bhushan Prasad, who has registration number IBBIIIPA-002/IP-N00676/2018-2019/12114. The consent of the newly appointed RP and a valid AFA were filed with the application. The CoC's resolution and the provisions of Section 27 of the Code were considered. Mr. Darshan Singh Anand was released from his duties. The previous RP was directed to hand over documents to the new

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## Issues and analysis

### Issue 1: Whether the application for replacement of the Resolution Professional (RP) under Section 27 of the …

**Ratio:** Section 27 of the IBC allows for the replacement of the RP based on a resolution passed

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**Reasoning:** The court considered the provisions of Section 27 of the IBC and the resolution passed by

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**Interpretation:** Section 27 provides a mechanism for the CoC to replace an RP if they lose

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**Application:** The court applied Section 27 to the facts of the case, noting the CoC's

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; RAHUL BHA…
- **Appellants:** M/s. Edelweiss…
- **Respondents:** M/s. Angad…

## Timeline

- **2024-07-05 — CoC Resol…**: The CoC passed a resolution with 82.35% voting share to replace Mr. Darshan Singh Anand…
- **2024-07-18 — Order Del…**: The NCLT delivered an order to replace the RP, releasing Mr. Darshan Singh Anand and…

## 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)

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