# In the matter of R K S Home Solutions Marketing and Consultancy Pvt. Ltd.

> NCLT judgment dated 2024-01-23. Citation: TCN-2024-NCLT-02956. The application, IA 5409 of 2023 in CP (IB) 575 of 2023, was filed by the Applicant for…

- **Court:** NCLT
- **Order date:** 23 Jan 2024
- **Citation:** TCN-2024-NCLT-02956
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/r-k-s-home-solutions-marketing-and-consultancy-pvt-ltd-72cce80a

## Summary

### Background

The application, IA 5409 of 2023 in CP (IB) 575 of 2023, was filed by the Applicant for appointing Atul Narayan Naik as Interim Resolution Professional (IRP) in place of Udaykumar Bhaskar Bhatt. The application was filed under section 60(5) of the Insolvency and Bankruptcy Code, 2016 and the Provisions of the Rule 11 of the NCLT Rules, 2016.

## Facts

Mrs. Dakshata Rajesh Singh, Proprietor of M/s Ved Communications, filed an application to appoint Atul Narayan Naik as the Interim Resolution Professional (IRP) in place of Udaykumar Bhaskar Bhatt. The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. When the initial application was filed, no IRP was suggested. Udaykumar Bhaskar Bhatt was appointed as IRP by the bench on 2023-11-10. After filing the petition, the applicant submitted Form-2 proposing Atul Narayan Naik, but this was not brought to the court's attention during arguments. Udaykumar Bhaskar Bhatt was appointed from a list prepared and approved by the IBBI.

## Issues and analysis

### Issue 1: Whether there is a reasonable ground to change the previously appointed Interim Resolution …

**Ratio:** An application to change a previously appointed IRP should have merit and a reasonable

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**Reasoning:** The court reasoned that since an IRP had already been appointed from the list prepared

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**Interpretation:** The court interpreted that once an IRP is appointed, there must be a valid and

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**Application:** The court applied this reasoning to the facts by noting that the applicant's

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## Parties

- **Judges:** Kuldip Kumar…; ANIL RAJ C…
- **Appellants:** Dakshata Rajesh…
- **Respondents:** M/s R K S Home…

## Timeline

- **2023-11-10 — Appointment…**: Udaykumar Bhaskar Bhat was appointed as the Interim Resolution Professional (IRP) by the…
- **2024-01-23 — Order Del…**: The court delivered the order dismissing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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