# In the matter of City Mall Developers Private Limited I.A. (IB) No. 371-KB-2022 in C.P. (IB) No. 149-KB-2019

> NCLT judgment dated 2022-05-12. Citation: TCN-2022-NCLT-02773. The case involves an application filed by the Committee of Creditors (CoC), represented by…

- **Court:** NCLT
- **Order date:** 12 May 2022
- **Citation:** TCN-2022-NCLT-02773
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/city-mall-developers-private-limited-ia-ib-no-371-kb-2022-in-cp-ib-no-149-kb-201-bafb76a0

## Summary

### Background

The case involves an application filed by the Committee of Creditors (CoC), represented by Omkara Asset Reconstruction Private Limited, under Section 22 of the Insolvency and Bankruptcy Code, 2016, seeking the replacement of the Interim Resolution Professional (IRP), Mr. Sajjan Kumar Dokania, with Mr. Kannan Tiruvengadam. The underlying Company Petition, C.P. (IB) No. 149/KB/2019, was filed by Allahabad Bank (now Indian Bank), and the Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against City Mall Developers Private Limited on 08 March 2022. Mr. Sajjan Kumar Dokania was initially appointed as the IRP.

## Facts

Allahabad Bank (now Indian Bank) filed C.P. (IB) No. 149/KB/2019 against City Mall Developers Private Limited, leading to the initiation of CIRP on 08 March 2022. Sajjan Kumar Dokania was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 09 March 2022, and the IRP collated claims, leading to the constitution of the Committee of Creditors (CoC). The first CoC meeting occurred on 05 April 2022. The CoC then resolved to replace Sajjan Kumar Dokania with Kannan Tiruvengadam as the Resolution Professional. Kannan Tiruvengadam submitted the required documentation, including Form AA and a valid Authorisation for Assignment (AFA). The application for replacement was filed under Section 22 of the Insolvency and Bankruptcy Code, 2016.

## Issues and analysis

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

**Ratio:** Section 22 of the Insolvency and Bankruptcy Code, 2016, allows the Committee of Creditors

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**Reasoning:** The court considered the application filed by the Committee of Creditors, which was

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**Interpretation:** Section 22 grants the CoC the power to decide on the appointment of the

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**Application:** The CoC, having been duly constituted and having held its first meeting,

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## Parties

- **Judges:** Rajasekha…; Balraj…
- **Respondents:** City Mall…; Sajjan Kumar…
- **Advocates:** Ratul…

## Timeline

- **2019-01-01 — C.P. (IB)…**: C.P. (IB) No. 149/KB/2019 filed by…
- **2022-03-08 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated against City Mall Developers…

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