# In the matter of Dharti Proteins Limited

> NCLT judgment dated 2025-02-04. Citation: TCN-2025-NCLT-00531. The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 4 Feb 2025
- **Citation:** TCN-2025-NCLT-00531
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dharti-proteins-limited-6b6721be

## Summary

### Background

The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Ex-Resolution Professional (RP) resigned for personal reasons, which was approved by the Committee of Creditors (COC). The COC recommended Mr. Amrish N Gandhi as the new RP. The Resolution Plans have been finalized and are seeking approval of the COC.

## Facts

Goenka Business & Finance Ltd. filed an application against Dharti Proteins Limited under Section 7 of the IBC. The existing Resolution Professional (RP) resigned due to personal reasons, which was approved by the Committee of Creditors (COC). The COC recommended Mr. Amrish N Gandhi as the new RP. Mr. Manish Santosh Buchasia was in the 4th COC. The sole COC member recommended Mr. Amrish N Gandhi, who has a valid registration number (IBBI/ IPA-002/ IP-N00670/ 2018-2019/ 72036) and provided written consent (Form - AA) to act as the RP for Dharti Proteins Limited, the Corporate Debtor. The Ex-RP had already taken an extension of the CIRP process. The new RP is on the IBBI updated list.

## Issues and analysis

### Issue 1: Whether the resignation of the existing …

**Ratio:** The COC's approval of the RP's resignation is a key factor in accepting the resignation.

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**Reasoning:** The court acknowledges the COC's approval of the resignation based on personal reasons.

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**Interpretation:** The law allows for the replacement of a Resolution Professional under certain

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**Application:** Since the COC approved the resignation, the court implicitly accepts the

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Goenka Business &…
- **Respondents:** Dharti Proteins…
- **Advocates:** Jaimin…; Hirva…

## Timeline

- **2025-02-04 — Order Del…**: Order delivered on the application regarding…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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