# In the matter of Ramos Ceramic Private Limited

> NCLT judgment dated 2024-07-25. Citation: TCN-2024-NCLT-00952. The case involves an application (IA/533(AHM)2024) filed in CP(IB)/40(AHM)2023 concerning Ramos…

- **Court:** NCLT
- **Order date:** 25 Jul 2024
- **Citation:** TCN-2024-NCLT-00952
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ramos-ceramic-private-limited-03019654

## Summary

### Background

The case involves an application (IA/533(AHM)2024) filed in CP(IB)/40(AHM)2023 concerning Ramos Ceramics Private Limited, where the applicant seeks the appointment of a Resolution Professional (RP) and allocation of funds for the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor, Ramos Ceramics Private Limited, was admitted into CIRP on 2024-02-14. Bhavan Trivedi was appointed as the Interim Resolution Professional (IRP). The application under Section 9 of the IBC was submitted by Sicer India Private Limited (R1), and the Tribunal appointed the applicant as IRP. The first meeting of the Committee of Creditors (CoC), comprising operational creditors, was convened on 2024-03-18, but the members could not reach a resolution regarding the appointment of

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## Facts

Ramos Ceramics Private Limited was admitted into CIRP on 2024-02-14. Bhavan Trivedi was appointed as the Interim Resolution Professional (IRP). Sicer India Private Limited (R1) filed an application under Section 9 of the IBC, leading to the IRP's appointment. The first CoC meeting, held on 2024-03-18, failed to produce a resolution for appointing a new RP. The IRP sought confirmation of expenses, but two CoC members, including the initiating operational creditor, did not ratify them. Gibraltar Glass and Ceramics Private Limited (R-2) neither assented nor dissented within the stipulated timeline. Two CoC members, holding 86.06% of the voting share, disapproved the resolutions for RP appointment and fee approval. R-2 withdrew its claim of Rs. 65,96,194/- due to CIRP

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## Issues and analysis

### Issue 1: Whether the Tribunal should direct the Committee of Creditors (CoC) of Ramos Ceramic Private …

**Ratio:** The CoC has the primary responsibility to appoint a Resolution Professional (RP) under

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**Reasoning:** The CoC failed to appoint a new RP in its first meeting. The Tribunal considered the

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**Interpretation:** Section 22 of the IBC places the onus of appointing a Resolution Professional

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**Application:** The Tribunal directed the IRP to convene a meeting of the CoC to approve the

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Bhavan Trivedi…
- **Respondents:** Ramos Ceramic…; Sicer India…
- **Advocates:** Amrish G…; Darshan P…; +2 more

## Timeline

- **2024-02-14 — CIRP Admi…**: Ramos Ceramics Private Limited was admitted into Corporate Insolvency Resolution Process…
- **2024-03-18 — First CoC M…**: The first meeting of the Committee of Creditors (CoC) was convened, but the members…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 11 — Persons not entitled to make application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-11)

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