# In the matter of JSM Devcons India Pvt. Ltd.

> NCLT judgment dated 2024-01-25. Citation: TCN-2024-NCLT-02873. The case involves an application filed by the Resolution Professional, Ms. Chaya Gupta, seeking…

- **Court:** NCLT
- **Order date:** 25 Jan 2024
- **Citation:** TCN-2024-NCLT-02873
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jsm-devcons-india-pvt-ltd-74edae71

## Summary

### Background

The case involves an application filed by the Resolution Professional, Ms. Chaya Gupta, seeking the appointment of Ms. Neha Firoda as the Authorized Representative to represent the financial creditors (plot buyers) in the Corporate Insolvency Resolution Process (CIRP) of the corporate debtor, JSM Devcons India Pvt Ltd. The application is filed in the matter of TP 230 of 2019 [CP (IB) 192 of 2017].

## Facts

The Resolution Professional, Ms. Chaya Gupta, filed an application to appoint Ms. Neha Firoda as the Authorized Representative for financial creditors who are plot buyers in the CIRP of JSM Devcons India Pvt Ltd. A public announcement was made on 06.12.2023, following an order from the Adjudicating Authority on 01.12.2023. The plot buyers submitted their claims and indicated their choice of insolvency professional. Ms. Neha Firoda was selected as the Authorized Representative because she was the choice of the highest number of financial creditors under the category of plot buyers. A detailed list of unsecured financial creditors as on 25.12.2023 was filed by the applicant.

## Issues and analysis

### Issue 1: Whether Ms. Neha Firoda should be appointed as the Authorized Representative to represent the …

**Ratio:** The Adjudicating Authority has the power to appoint an Authorized Representative to

…

**Reasoning:** The court considered the application and the fact that Ms. Neha Firoda was selected by

…

**Interpretation:** The selection of an Authorized Representative should reflect the preference of

…

**Application:** Given that Ms. Neha Firoda was the choice of the highest number of financial

…

## Parties

- **Judges:** P. Moha…; KAUSHALENDRA…
- **Appellants:** Chaya G…
- **Respondents:** JSM Devcons India…

## Timeline

- **2023-12-01 — Adjudicating Authority…**: Adjudicating Authority's order…
- **2023-12-06 — Public Annou…**: Public announcement made…

## 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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