# In the matter of Kobo Biotech Limited

> NCLT judgment dated 2025-01-17. Citation: TCN-2025-NCLT-00610. The case involves an application (IA (IBC) 85/2025) filed in connection with a corporate…

- **Court:** NCLT
- **Order date:** 17 Jan 2025
- **Citation:** TCN-2025-NCLT-00610
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/kobo-biotech-limited-b8a17236

## Summary

### Background

The case involves an application (IA (IBC) 85/2025) filed in connection with a corporate insolvency resolution process (CIRP) initiated under CP(IB) No. 277/7/HDB/2023. The existing Resolution Professional (RP), Mr. Ravindra Chaturvedi, has been selected as a Technical Member in the National Company Law Tribunal (NCLT), rendering him unable to continue as RP in this specific case. The Committee of Creditors (COC) approved the change of RP in its meeting held on January 13, 2025.

## Facts

JM Financial Asset Reconstruction Company Limited initiated a Corporate Insolvency Resolution Process (CIRP) against KOBO Biotech Limited under CP(IB) No. 277/7/HDB/2023. Mr. Ravindra Chaturvedi, the initially appointed Resolution Professional (RP), was subsequently selected as a Technical Member in the National Company Law Tribunal (NCLT). Due to this appointment, Mr. Chaturvedi could no longer serve as the RP for KOBO Biotech Limited. The Committee of Creditors (COC) convened on January 13, 2025, and approved the replacement of Mr. Chaturvedi with Ms. Namrata Amol Randeri, who holds IBBI Registration No. IBBI/IPA-001/IP-P01585/2019-20/12495. An application, IA (IBC) 85/2025, was filed to formalize the change in RP.

## Issues and analysis

### Issue 1: Whether the existing Resolution Professional, Mr. Ravindra Chaturvedi, should be replaced due to …

**Ratio:** A Resolution Professional cannot continue in their role if they are appointed to a

…

**Reasoning:** The court reasoned that Mr. Chaturvedi's appointment as a Technical Member in the NCLT

…

**Interpretation:** This interpretation ensures that the Resolution Professional is free from any

…

**Application:** Given Mr. Chaturvedi's appointment to the NCLT, the court applied the principle

…

## Parties

- **Judges:** Rajeev Bh…; SH. CHARAN…
- **Respondents:** Kobo Biotech…

## Timeline

- **2025-01-13 — COC Meet…**: The Committee of Creditors (COC) approved the change of Resolution Professional in its…
- **2025-01-17 — Order Da…**: The court allowed the application (IA (IBC) 85/2025), discharging Mr. Ravindra Chaturvedi…

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