# In the matter of Ram Lal Aneja Food Pvt. Ltd. IA No.891 of 2023 in CP(IB) No.173-Chd-Pb-2020

> NCLT judgment dated 2023-06-15. Citation: TCN-2023-NCLT-02921. The case involves an application (IA No. 891 of 2023) filed under Section 22(3)(b) of the…

- **Court:** NCLT
- **Order date:** 15 Jun 2023
- **Citation:** TCN-2023-NCLT-02921
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ram-lal-aneja-food-pvt-ltd-ia-no891-of-2023-in-cpib-no173-chd-pb-2020-4551ba08

## Summary

### Background

The case involves an application (IA No. 891 of 2023) filed under Section 22(3)(b) of the Insolvency and Bankruptcy Code, 2016 (IBC) by Punjab National Bank seeking the appointment of Mr. Prem Chand Goyal as the Resolution Professional (RP) in place of the Interim Resolution Professional (IRP), Mr. Akhil Ahuja, for the Corporate Insolvency Resolution Process (CIRP) of M/s. Ram Lal Aneja Food Pvt. Ltd. The CIRP was initiated based on an application under Section 9 of the IBC filed by an operational creditor, Mr. Aman Bajaj, Proprietor of M/s. Jagir Chand Sham Sunder.

## Facts

1. An application under Section 9 of the IBC was filed by Mr. Aman Bajaj, Proprietor of M/s. Jagir Chand Sham Sunder, against M/s. Ram Lal Aneja Food Pvt. Ltd., leading to the initiation of CIRP.
2. Mr. Akhil Ahuja was initially appointed as the Interim Resolution Professional (IRP).
3. Punjab National Bank, the applicant, filed IA No. 891 of 2023 seeking the replacement of the IRP with Mr. Prem Chand Goyal.
4. The CoC approved the appointment of Mr. Prem Chand Goyal in its third meeting dated 24.03.2023, and reaffirmed this decision in its fifth meeting held on 07.06.2023.
5. The respondent-IRP, Mr. Akhil Ahuja, raised objections regarding the voting process, arguing that it should have been conducted through ballot paper.
6. Punjab National Bank is the sole member of the

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## Issues and analysis

### Issue 1: Whether the objections raised by the respondent-IRP regarding the voting process for the …

**Ratio:** Regulations 25 and 26 of the IBBI (Insolvency Resolution Process for Corporate Persons)

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**Reasoning:** The Adjudicating Authority considered the objections raised by the respondent-IRP and

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**Interpretation:** The IBBI Regulations provide flexibility in the voting process, allowing for

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**Application:** In this case, the regulations were applied to determine the validity of the

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** Punjab National…
- **Respondents:** M/s. Ram Lal…; Akhil A…
- **Advocates:** Harsh…; Pulkit…; +1 more

## Timeline

- **2020-01-01 — CP(IB) No.173/Chd/Pb/202…**: Corporate Insolvency…
- **2023-01-13 — Order Da…**: Order admitting the application under…

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