# In the matter of Radius & Deserve Builders LLP

> NCLT judgment dated 2023-11-24. Citation: TCN-2023-NCLT-00582. The case involves an application (IA-5331(MB)2023) filed under Section 22 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 24 Nov 2023
- **Citation:** TCN-2023-NCLT-00582
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/radius-deserve-builders-llp-0d8112e1

## Summary

### Background

The case involves an application (IA-5331(MB)2023) filed under Section 22 of the Insolvency and Bankruptcy Code (IBC) by the Committee of Creditors (CoC) seeking the replacement of the Interim Resolution Professional (IRP). The IRP had received claims from Operational Creditors, leading to the constitution of the CoC. The first CoC meeting was held on 31.10.2023, where a resolution was passed with 99.96% voting in favor of replacing Ms. Pournima Jayant Tungatkar with Mr. Jayesh Natvarlal Sanghrajka as the Resolution Professional.

## Facts

Amit Infra-Logic (India) Private Limited is involved in a corporate insolvency resolution process. An application was filed by the Committee of Creditors (CoC) under Section 22 of the Insolvency and Bankruptcy Code (IBC) to replace the Interim Resolution Professional (IRP), Ms. Pournima Jayant Tungatkar. The CoC, constituted with Operational Creditors, held its first meeting on 31.10.2023 and resolved with 99.96% majority to replace Ms. Tungatkar with Mr. Jayesh Natvarlal Sanghrajka, who holds Registration No. IBBI/IPA-001/IP-P00216/2017-2018/10416. Mr. Sanghrajka has provided his written consent to act as the Resolution Professional for the Corporate Debtor. The bench considered the submissions and confirmed the appointment of Mr. Sanghrajka.

## Issues and analysis

### Issue 1: Whether the application filed by the Committee of Creditors (CoC) under Section 22 of the …

**Ratio:** Section 22 of the IBC allows the CoC to replace the IRP. The decision to replace the IRP

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**Reasoning:** The court considered the fact that the CoC, constituted with Operational Creditors, had

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**Interpretation:** Section 22 of the IBC grants the CoC the power to replace the IRP, provided

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**Application:** In this case, the CoC's decision to replace Ms. Pournima Jayant Tungatkar with

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## Parties

- **Judges:** Anu Jagmoha…; KISHORE VEMULAPALL…
- **Appellants:** Amit Infra-Logic…
- **Respondents:** Radius & Deserve…

## Timeline

- **2023-10-31 — First CoC M…**: The first meeting of the Committee of Creditors (CoC) was held, and a resolution was…
- **2023-10-31 — Consent from Resolution…**: Mr. Jayesh Natvarlal Sanghrajka provided his written consent to act as the Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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