# In the matter of IDBI Trusteeship Services Ltd Vs. Thirumuruhan, IBA/784/2020

> NCLT judgment dated 2022-05-23. Citation: TCN-2022-NCLT-02673. The case pertains to an application under the Insolvency and Bankruptcy Code (IBC), 2016. The…

- **Court:** NCLT
- **Order date:** 23 May 2022
- **Citation:** TCN-2022-NCLT-02673
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/idbi-trusteeship-services-ltd-vs-thirumuruhan-iba7842020-73dab456

## Summary

### Background

The case pertains to an application under the Insolvency and Bankruptcy Code (IBC), 2016. The matter was heard by the Chennai Bench of the National Company Law Tribunal (NCLT) through video conferencing. The application number is IBA/784/2020. The petitioner is IDBI Trusteeship Services Ltd, and the respondent is Thirumuruhan. The application is under Section 95 of the IBC, 2016.

## Facts

The National Company Law Tribunal (NCLT), Chennai Bench, heard an application numbered IBA/784/2020 under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. IDBI Trusteeship Services Ltd is the petitioner, and Thirumuruhan is the respondent. Based on communication from IBBI, Mr. R. Sugumaran was appointed as the Interim Resolution Professional (IRP) with Registration No. IBBI/IPA-001/IP-P00677/2017-2018/11147. The IRP is required to submit a report as per the guidelines specified by IBBI and IBC, 2016. The Registry is directed to send a copy of the order to the appointed IRP. The matter is listed on 27.06.2022 for taking the IRP report on record.

## Issues and analysis

### Issue 1: Whether Mr. R. Sugumaran should be appointed as the Interim Resolution Professional (IRP) for the …

**Ratio:** The appointment of an IRP is a procedural step under the IBC, 2016, to initiate the

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**Reasoning:** Based on the communication received from IBBI, Mr. R. Sugumaran was proposed as the IRP.

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**Interpretation:** The IBC provides for the appointment of an IRP to manage the affairs of the

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**Application:** Given the communication from IBBI, the NCLT appointed Mr. R. Sugumaran as the

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## Parties

- **Judges:** (Retd.) S.…; Shri. Samee…
- **Appellants:** IDBI Trusteeship…
- **Respondents:** Thirumu…

## Timeline

- **2022-05-23 — Hearing…**: The Chennai Bench of the NCLT held a hearing on 23-05-2022 at 02.30 P.M through video…
- **2022-06-27 — Next Hearin…**: The matter is listed on 27.06.2022 for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95 — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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