# In the matter of Imperia Wishfield Pvt. Ltd.

> NCLT judgment dated 2024-09-19. Citation: TCN-2024-NCLT-00580. The application was filed under Section 22(3)(b) of the IBC, 2016, for the appointment of a…

- **Court:** NCLT
- **Order date:** 19 Sept 2024
- **Citation:** TCN-2024-NCLT-00580
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/imperia-wishfield-pvt-ltd-61e0c7b6

## Summary

### Background

The application was filed under Section 22(3)(b) of the IBC, 2016, for the appointment of a Resolution Professional (RP) to replace the Interim Resolution Professional (IRP). The Adjudicating Authority had previously appointed an IRP through orders dated 29.05.2024 and 14.06.2024. The CoC, in its 3rd meeting held on 05.09.2024, resolved with 100% voting to replace the IRP with an RP.

## Facts

Mr. Raj Kumar Shrivastava and Ors. filed an application. The Adjudicating Authority had appointed Mr. Chetan Gupta as the IRP vide order dated 29.05.2024 read with order dated 14.06.2024. In the 3rd meeting of the CoC held on 05.09.2024, a resolution was passed with 100% voting to replace the IRP with Mr. Navneet Kumar Gupta as the RP. The application was filed under Section 22(3)(b) of the IBC, 2016. The consent and valid AFA of the said Resolution Professional has been filed along with the application.

## Issues and analysis

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

**Ratio:** Section 22(3)(b) of the IBC, 2016, allows the Committee of Creditors (CoC) to replace the

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**Reasoning:** The court noted that the CoC, in its 3rd meeting, resolved with 100% voting to replace

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**Interpretation:** Section 22(3)(b) of the IBC grants the CoC the power to replace the IRP with an

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**Application:** The CoC's decision, made in its 3rd meeting with 100% voting, to replace the

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; RAHUL BHA…
- **Appellants:** Raj Kumar…
- **Respondents:** M/s. Imperia…

## Timeline

- **2024-05-29 — Order Da…**: Adjudicating Authority vide order…
- **2024-06-14 — Order Da…**: Adjudicating Authority vide order…

## 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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