# In the matter of Fima Properties Pvt. Ltd. IA (IBC)462-2022 in CP(IB)743-9-HDB-2019

> NCLT judgment dated 2022-06-06. Citation: TCN-2022-NCLT-02375. The Interim Resolution Professional (IRP) filed a memo seeking relief from his duties as IRP…

- **Court:** NCLT
- **Order date:** 6 Jun 2022
- **Citation:** TCN-2022-NCLT-02375
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/fima-properties-pvt-ltd-ia-ibc462-2022-in-cpib743-9-hdb-2019-599aa9ce

## Summary

### Background

The Interim Resolution Professional (IRP) filed a memo seeking relief from his duties as IRP for Fima Properties Private Limited due to health issues. The IRP also filed an application for the constitution of a Committee of Creditors. The court considered the IRP's request and the events narrated in the memo and application.

## Facts

The Interim Resolution Professional (IRP) for Fima Properties Private Limited filed a memo seeking to be relieved of his duties due to health issues. The IRP also filed an application (IA (IBC) 462/2022) for the constitution of a Committee of Creditors. The Operational Creditor had transferred funds to the IRP for meeting the CIRP expenses. The court considered the IRP's request and the need to continue the CIRP process.

## Issues and analysis

### Issue 1: Whether the Interim Resolution Professional should be …

**Ratio:** An IRP can be relieved of their duties if they express difficulties in continuing due to

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**Reasoning:** The court accepted the IRP's request to be relieved of his duties, citing his health

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**Interpretation:** This interpretation allows for the removal of an IRP when they are unable to

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**Application:** The court applied this principle by relieving the existing IRP, Shri. Parupudi

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## Parties

- **Judges:** Venkata Ramakrishn…; Veera Brahma Rao…
- **Appellants:** Uday Gopichand…
- **Respondents:** Fima Properties…

## Timeline

- **2022-06-06 — Hearing…**: Hearing held on 06-06-2022 at 10:30…
- **2022-05-18 — IRP Files…**: The Interim Resolution Professional filed a memo with Diary no. 4567 seeking relief from…

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