# In the matter of Aryan Villa and Resorts LLP IA No.912-2022 in CP(IB) No.189-Chd-Hry-2019

> NCLT judgment dated 2022-08-18. Citation: TCN-2022-NCLT-01334. The case involves an application (IA No.912/2022) filed by the Interim Resolution Professional…

- **Court:** NCLT
- **Order date:** 18 Aug 2022
- **Citation:** TCN-2022-NCLT-01334
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aryan-villa-and-resorts-llp-ia-no912-2022-in-cpib-no189-chd-hry-2019-ab3792d9

## Summary

### Background

The case involves an application (IA No.912/2022) filed by the Interim Resolution Professional (IRP) of M/s Aryan Villa and Resorts LLP under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking replacement of the IRP. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Aryan Villa and Resorts LLP based on a petition filed by M/s Madhav Alloys Private Limited, an Operational Creditor, under Section 9 of the Code. The Adjudicating Authority had appointed the initial IRP because the operational creditor did not propose a name for the position.

## Facts

M/s Madhav Alloys Private Limited, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Aryan Villa and Resorts LLP. The Adjudicating Authority appointed an Interim Resolution Professional (IRP) because the operational creditor did not propose a name. The current application, IA No.912/2022, was filed by the IRP seeking replacement due to a medical emergency in his family. The IRP, Mr. Vipul Garg, has not charged any fees and has not submitted Form 2. The IRP has no objection to being replaced. The Insolvency and Bankruptcy Board of India (IBBI) list provided shows Mr. Vanit Kumar Mittal's name at Serial No.8, valid until 31.12.2022. The Law Research Associate of the Tribunal checked Mr. Vanit Kumar Mittal's credentials and

…

## Issues and analysis

### Issue 1: Whether the Interim Resolution Professional (IRP) can be replaced due to a medical emergency in his …

**Ratio:** The Adjudicating Authority has the discretion to replace an IRP if there are sufficient

…

**Reasoning:** The court considered the submission that Mr. Vipul Garg, the existing IRP, was unable to

…

**Interpretation:** Section 60(5) of the Insolvency and Bankruptcy Code, 2016, provides the

…

**Application:** In this case, the medical emergency faced by Mr. Vipul Garg justified his

…

## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** M/s Madhav Alloys…
- **Respondents:** M/s Aryan Villa…

## Timeline

- **2019-01-01 — CP(IB) No.189/Chd/Hry/20…**: Corporate Insolvency…
- **2022-08-02 — Order Da…**: Order passed by the Adjudicating Authority…

## 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)

---

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/aryan-villa-and-resorts-llp-ia-no912-2022-in-cpib-no189-chd-hry-2019-ab3792d9