# In the matter of GIT Textiles Manufacturing Limited IA(IBC)-829(KB)2022 in C.P. (IB)-600(KB)2019

> NCLT judgment dated 2022-08-22. Citation: TCN-2022-NCLT-01314. The case involves an application, IA(IBC)/829(KB)2022, filed by the applicant seeking the…

- **Court:** NCLT
- **Order date:** 22 Aug 2022
- **Citation:** TCN-2022-NCLT-01314
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/git-textiles-manufacturing-limited-iaibc-829kb2022-in-cp-ib-600kb2019-039785a6

## Summary

### Background

The case involves an application, IA(IBC)/829(KB)2022, filed by the applicant seeking the replacement of the Interim Resolution Professional (IRP), Mr. Sunil Kumar Agarwal, who was previously appointed by the Adjudicating Authority. Mr. Agarwal expressed his inability to take up the assignment, as stated in an email and documented on page 19 of the application.

## Facts

UCO Bank initiated a Corporate Insolvency Resolution Process (CIRP) against GIT Textiles Manufacturing Limited under Section 7 of the IBC. Sunil Kumar Agarwal was initially appointed as the Interim Resolution Professional (IRP). However, Mr. Agarwal expressed his inability to take up the assignment due to reasons mentioned in an email. Consequently, UCO Bank filed an application, IA(IBC)/829(KB)2022, seeking the replacement of Mr. Agarwal. UCO Bank proposed Mr. Ramchandra Dallaram Choudhary as the new IRP, who had submitted his consent and authorization for the assignment. The Adjudicating Authority considered the application and the circumstances surrounding the initial IRP's inability to serve.

## Issues and analysis

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

**Ratio:** An IRP can be replaced if they are unable to perform their duties, and the Adjudicating

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**Reasoning:** The court considered the fact that the initially appointed IRP, Mr. Sunil Kumar Agarwal,

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**Interpretation:** The legal framework allows for the replacement of an IRP when circumstances

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**Application:** In this case, the application for replacement was allowed because the initial

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## Parties

- **Judges:** RohitKa…; Balraj…
- **Appellants:** UCO B…
- **Respondents:** GIT Textiles…
- **Advocates:** Mr Rahu…; Mr Aditya…

## Timeline

- **2022-06-22 — Order Da…**: Adjudicating Authority order date for…
- **2022-08-22 — Hearing…**: Hearing on the application…

## 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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