# In the matter of Brahmaputra Galvochem Pvt. Ltd. IA (IBC)-7-22(3)(b)-GB-2023 in C.P. (IB)No.15-GB-2022

> NCLT judgment dated 2023-02-10. Citation: TCN-2023-NCLT-04663. The case involves an application filed by the Financial Creditor under Section 22(3)(b) of the…

- **Court:** NCLT
- **Order date:** 10 Feb 2023
- **Citation:** TCN-2023-NCLT-04663
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/brahmaputra-galvochem-pvt-ltd-ia-ibc-7-223b-gb-2023-in-cp-ibno15-gb-2022-61ad7250

## Summary

### Background

The case involves an application filed by the Financial Creditor under Section 22(3)(b) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the replacement of the Interim Resolution Professional (IRP) and the appointment of Mrs. Meena Sureka as the Resolution Professional. The Committee of Creditors (CoC) had unanimously resolved on 2022-12-21 to replace the existing IRP, Mr. Purshotam Gaggar, with Mrs. Meena Sureka. The application was filed in the context of Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Brahmaputra Galvochem Pvt. Ltd.

## Facts

The State Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Brahmaputra Galvochem Pvt. Ltd. An Interim Resolution Professional (IRP), Mr. Purshotam Gaggar, was initially appointed. The Committee of Creditors (CoC) was formed, and in a meeting held on 2022-12-21, the CoC unanimously resolved to replace Mr. Purshotam Gaggar with Mrs. Meena Sureka as the Resolution Professional. Mrs. Meena Sureka provided her written consent to act as the Resolution Professional. The Financial Creditor filed an application under Section 22(3)(b) of the IBC, 2016, seeking the replacement of the IRP and the appointment of Mrs. Meena Sureka. The Adjudicating Authority considered the application, the CoC's resolution, and Mrs. Sureka's consent. The relevance

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## Issues and analysis

### Issue 1: Whether the application filed by the Financial Creditor under Section 22(3)(b) of the IBC, 2016, …

**Ratio:** Section 22(3)(b) of the IBC, 2016, allows the Adjudicating Authority to replace the IRP

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**Reasoning:** The Adjudicating Authority considered the application filed by the Financial Creditor,

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**Interpretation:** Section 22(3)(b) provides a mechanism for the CoC to have a say in the

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**Application:** The application was deemed maintainable as it was filed under the appropriate

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## Parties

- **Judges:** Deep Chandr…; Prasanta Kumar…
- **Appellants:** State Bank of…
- **Respondents:** Brahmaputra…; M/s. Brahmaputra…

## Timeline

- **2022-11-18 — Order Da…**: Order passed in C.P.(IB) NO. 15/GB/2022 regarding the constitution of the Committee of…
- **2022-12-08 — Written C…**: Mrs. Meena Sureka gave her written consent in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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