# In the matter of Brahmaputra TMT Bars Pvt. Ltd. IA (IBC)-5-22(3)(b)-GB-2023 in C.P. (IB)No. 20-GB-2022

> NCLT judgment dated 2023-02-10. Citation: TCN-2023-NCLT-04633. 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-04633
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/brahmaputra-tmt-bars-pvt-ltd-ia-ibc-5-223b-gb-2023-in-cp-ibno-20-gb-2022-093fd96f

## 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 Adjudicating Authority had previously appointed Mr. Manish Agarwalla as the IRP. The Committee of Creditors (CoC) unanimously resolved to replace Mr. Manish Agarwalla and appoint Mrs. Meena Sureka as the Resolution Professional.

## Facts

The State Bank of India initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. Brahmaputra TMT Bars Pvt. Ltd. An Interim Resolution Professional (IRP), Mr. Manish Agarwalla, was initially appointed. Subsequently, the Committee of Creditors (CoC) was constituted. The CoC then passed a unanimous resolution to replace Mr. Manish Agarwalla with Mrs. Meena Sureka as the Resolution Professional (RP). 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. Mrs. Meena Sureka provided her written consent to act as the Resolution Professional. The Adjudicating Authority considered the application, the CoC's resolution, and Mrs. Sureka's consent before

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## Issues and analysis

### Issue 1: Whether the application for replacement of the Interim Resolution Professional (IRP) and …

**Ratio:** Section 22(3)(b) of the IBC, 2016, provides a mechanism for the replacement of the IRP

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**Reasoning:** The court considered the provisions of Section 22(3)(b) of the IBC, 2016, which allows

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**Interpretation:** Section 22(3)(b) of the IBC is interpreted to allow the CoC to replace the IRP

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**Application:** The court applied Section 22(3)(b) of the IBC to the facts of the case, where

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## Parties

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

## Timeline

- **2022-10-28 — Order Pa…**: An order was passed in…
- **2022-12-08 — Written C…**: Mrs. Meena Sureka gave her written consent in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 22(3) — Appointment of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-22)

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