# In the matter of India Sport Flashes Pvt.  Ltd. IA-1173-ND-2022 in IB-2693-ND-2019

> NCLT judgment dated 2022-04-26. Citation: TCN-2022-NCLT-03076. The application IA/1173/ND/2022 was moved to address the issue of multiple Interim Resolution…

- **Court:** NCLT
- **Order date:** 26 Apr 2022
- **Citation:** TCN-2022-NCLT-03076
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/india-sport-flashes-pvt-ltd-ia-1173-nd-2022-in-ib-2693-nd-2019-913037e3

## Summary

### Background

The application IA/1173/ND/2022 was moved to address the issue of multiple Interim Resolution Professionals (IRPs) being appointed for the same Corporate Debtor in different CIRP proceedings.

## Facts

IA/1173/ND/2022 was filed on behalf of Mr. Rahul Khanna, who was appointed as the Interim Resolution Professional (IRP) in IB/2693/ND/2019 . This proceeding led to the initiation of Corporate Insolvency Resolution Process (CIRP) against M/s India Sport Flashes Pvt Ltd via an order dated September 16, 2021. This application sought to clarify the IRP's role given prior appointments. Earlier, on August 11, 2021, CIRP proceedings were initiated against the same Corporate Debtor, M/s India Sport Flashes Pvt Ltd, in an application filed by K.DH Travels Pvt. Ltd. under IB/460/ND/2020 . This resulted in two different IRPs being appointed for the same Corporate Debtor, creating a conflict and administrative inefficiency in the ongoing insolvency process. The tribunal noted that

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## Issues and analysis

### Issue 1: Whether a second Interim Resolution Professional can be appointed for the same Corporate Debtor …

**Ratio:** The appointment of a second IRP for the same Corporate Debtor is unnecessary and improper

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**Reasoning:** The NCLT reasoned that once CIRP proceedings are initiated and an IRP is appointed, there

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**Interpretation:** The court interpreted the provisions governing the appointment of an IRP to

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**Application:** In this case, since Mr. Prabhat Ranjan Singh was already appointed as IRP in

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## Parties

- **Judges:** DHARMINDER…; SUMITA PURK…; +1 more
- **Appellants:** Manoj Srivastava…
- **Respondents:** India Sport…
- **Advocates:** For the Applicant:…; PCS…; +2 more

## Timeline

- **August 11, 2021 — CIRP initiated…**: CIRP proceedings were ordered to be initiated against M/s India Sport Flashes Pvt Ltd…
- **September 16, 2021 — CIRP initiated…**: CIRP proceedings were ordered to be initiated against M/s India Sport Flashes Pvt Ltd,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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