# In the matter of M B Malls Pvt. Ltd. IB-607-PB-2020

> NCLT judgment dated 2022-09-01. Citation: TCN-2022-NCLT-01190. The case involves an application on behalf of the IRP under Section 21(6A) of the IB Code,…

- **Court:** NCLT
- **Order date:** 1 Sept 2022
- **Citation:** TCN-2022-NCLT-01190
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/m-b-malls-pvt-ltd-ib-607-pb-2020-6ebd1ee9

## Summary

### Background

The case involves an application on behalf of the IRP under Section 21(6A) of the IB Code, 2016, read with Regulations 16A of the IBBI (IRP for CP) Regulations, 2016, seeking the appointment of an Authorized Representative for the Class of Creditors Real Estate Buyers. The Resolution Professional (RP) submitted that 10 claims were received in form CA from claimants claiming to be Financial Creditors within the Class of Creditors. Additionally, there was an application on behalf of the Applicant under Rule 11 of NCLT Rules, 2016, filed by a member of the Suspended Board of Corporate Debtor, which was later withdrawn.

## Facts

Bank of Baroda filed a case against M/s. MB Malls Pvt. Ltd. under Section 7 of the IB Code, 2016. The IRP filed an application under Section 21(6A) of the IB Code, 2016, seeking the appointment of an Authorized Representative for the Class of Creditors Real Estate Buyers. The RP received 10 claims in form CA from claimants claiming to be Financial Creditors. Mr. Ashok Kumar Gupta was chosen as the Authorized Representative by the highest number of Financial Creditors. A separate application was filed by a member of the Suspended Board of Corporate Debtor under Rule 11 of NCLT Rules, 2016, which was later withdrawn.

## Issues and analysis

### Issue 1: Whether the application for the appointment of an Authorized Representative for the Class of …

**Ratio:** Section 21(6A) of the IB Code, 2016, read with Regulations 16A of the IBBI (IRP for CP)

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**Reasoning:** The court considered the RP's submission that 10 claims were received from claimants

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**Interpretation:** The court interpreted Section 21(6A) and Regulations 16A to allow for the

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**Application:** The court applied the ratio to the facts by allowing the application and

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## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Appellants:** Bank of B…
- **Respondents:** M/s. M.B Malls…

## Timeline

- **2022-09-01 — Order Del…**: Order delivered on…

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