Karur Vysya Bank filed an application (IA-1003/2023) under Section 95 of the IBC, 2016, seeking the replacement of the Resolution Professional (RP), Mr. Vishva Deep Sharma. Mr. Vishva Deep Sharma was appointed as RP on 2022-08-03 but allegedly did not discharge his duties/functions as mandated by law. The applicant proposed Mr. Rohan Lal Jain as the new RP. Mr. Rohan Lal Jain is registered with The Institute of Insolvency of ICAI, holding Registration No. 1881/IPA-001/2017-2018/11587. The tribunal found sufficient reasons to allow the replacement. The tribunal also directed that a copy of the order be sent to IBBI to look into the conduct of the previous RP.

Karur Vysya Bank filed an application (IA-1003/2023) under Section 95 of the IBC, 2016, seeking the replacement of the Resolution Professional (RP), Mr. Vishva Deep Sharma. Mr. Vishva Deep Sharma was appointed as RP on 2022-08-03 but allegedly did not discharge his duties/functions as mandated by law. The applicant proposed Mr. Rohan Lal Jain as the new RP. Mr. Rohan Lal Jain is registered with The Institute of Insolvency of ICAI, holding Registration No. 1881/IPA-001/2017-2018/11587. The tribunal found sufficient reasons to allow the replacement. The tribunal also directed that a copy of the order be sent to IBBI to look into the conduct of the previous RP.