# In the matter of Radission Resources Private Limited I.A. (IB) No. 375-KB-2022 in C.P. (IB) No. 1147-KB-2020

> NCLT judgment dated 2022-05-25. Citation: TCN-2022-NCLT-02608. The case involves an application filed by Janpragti Commodities Private Limited, represented by…

- **Court:** NCLT
- **Order date:** 25 May 2022
- **Citation:** TCN-2022-NCLT-02608
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/radission-resources-private-limited-ia-ib-no-375-kb-2022-in-cp-ib-no-1147-kb-202-93fe05fe

## Summary

### Background

The case involves an application filed by Janpragti Commodities Private Limited, represented by its Resolution Professional, Sudipto Ghosh, under Section 22 of the Insolvency and Bankruptcy Code, 2016, seeking the replacement of the Interim Resolution Professional (IRP), Mr. Neeraj Jain, with Mr. Pratap Mukherjee. The Corporate Insolvency Resolution Process (CIRP) was initiated against Radission Resources Private Limited based on a Company Petition filed by Janpragti Commodities Private Limited. The Adjudicating Authority ordered the initiation of CIRP on January 27, 2022, and Mr. Neeraj Jain was appointed as the IRP.

## Facts

Janpragti Commodities Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Radission Resources Private Limited. The Adjudicating Authority initiated CIRP on January 27, 2022, and appointed Mr. Neeraj Jain as the Interim Resolution Professional (IRP). A Committee of Creditors (CoC) was constituted, and in its meeting on February 26, 2022, the CoC resolved to replace Mr. Neeraj Jain with Mr. Pratap Mukherjee as the Resolution Professional. Mr. Pratap Mukherjee has the required registration and authorization. The application was filed under Section 22 of the Insolvency and Bankruptcy Code, 2016, seeking the replacement of the IRP. The underlying Company Petition is C.P. (IB) No. 1147/KB/2020.

## Issues and analysis

### Issue 1: Whether the application for the replacement of the Interim Resolution Professional with Mr. Pratap …

**Ratio:** Section 22 of the Insolvency and Bankruptcy Code, 2016, allows for the replacement of the

…

**Reasoning:** The Committee of Creditors (CoC) resolved to appoint Mr. Pratap Mukherjee as the

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**Interpretation:** The legal framework allows for the replacement of the IRP based on the decision

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**Application:** The CoC resolved to replace Mr. Neeraj Jain with Mr. Pratap Mukherjee. Mr.

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## Parties

- **Judges:** Rajasekha…; Balraj…
- **Appellants:** Janpragti…
- **Respondents:** Radission…; Neeraj…

## Timeline

- **2020-01-01 — Company Petiti…**: C.P. (IB) No. 1147/KB/2020 was filed by…
- **2022-01-27 — CIRP Init…**: Adjudicating Authority initiated Corporate Insolvency Resolution Process (CIRP) against…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 22 — Appointment of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-22)

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