The Corporate Debtor, Notion Real Estate Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) via order dated 2024-01-09. The Committee of Creditors (CoC) sought to replace the Interim Resolution Professional (IRP) with M/s Incorp Restructuring Services LLP, an Insolvency Professional Entity (IPE). The CoC's decision to appoint the IPE was supported by 100% voting. The application for replacement was filed under Section 22(3)(b) of the Insolvency and Bankruptcy Code (IBC). The court considered whether an IPE could be appointed as an RP, given that the IBC primarily addresses individual IPs and IPAs. The written consent submitted by M/s Incorp Restructuring Services LLP was in Form AA, which is designed for individual IPs, not IPEs. The

The Corporate Debtor, Notion Real Estate Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) via order dated 2024-01-09. The Committee of Creditors (CoC) sought to replace the Interim Resolution Professional (IRP) with M/s Incorp Restructuring Services LLP, an Insolvency Professional Entity (IPE). The CoC's decision to appoint the IPE was supported by 100% voting. The application for replacement was filed under Section 22(3)(b) of the Insolvency and Bankruptcy Code (IBC). The court considered whether an IPE could be appointed as an RP, given that the IBC primarily addresses individual IPs and IPAs. The written consent submitted by M/s Incorp Restructuring Services LLP was in Form AA, which is designed for individual IPs, not IPEs. The