# In the matter of Ramos Ceramic Private Limited

> NCLT judgment dated 2024-07-25. Citation: TCN-2024-NCLT-00955. The case involves an application (IA/533(AHM)2024) filed in CP(IB)/40(AHM)2023 seeking the…

- **Court:** NCLT
- **Order date:** 25 Jul 2024
- **Citation:** TCN-2024-NCLT-00955
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ramos-ceramic-private-limited-d2147f23

## Summary

### Background

The case involves an application (IA/533(AHM)2024) filed in CP(IB)/40(AHM)2023 seeking the appointment of a Resolution Professional (RP) and allocation of funds for the Corporate Insolvency Resolution Process (CIRP) of Ramos Ceramics Private Limited. The Interim Resolution Professional (IRP), Bhavan Trivedi, filed the application after the Committee of Creditors (CoC) failed to approve his appointment as RP and his proposed fees. The CIRP was initiated based on an application under Section 9 of the IBC filed by Sicer India Private Limited (R1), an operational creditor. The CoC, comprising operational creditors, could not reach a resolution on appointing a new RP.

## Facts

The Corporate Debtor, Ramos Ceramics Private Limited, was admitted into CIRP via an order dated 2024-02-14. Bhavan Trivedi was appointed as the Interim Resolution Professional (IRP). The CIRP was initiated based on an application filed under Section 9 of the IBC by Sicer India Private Limited (R1), an operational creditor. The Committee of Creditors (CoC) was formed, consisting exclusively of operational creditors. In the first CoC meeting held on 2024-03-18, the members failed to reach a resolution regarding the appointment of a new RP. The IRP sought confirmation of his expenses, but two members, including the original applicant (operational creditor), did not ratify them. One member abstained and later withdrew their claim and sought removal from the CoC. Respondent

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## Issues and analysis

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

**Ratio:** Section 22 of the IBC outlines the process for

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**Reasoning:** The CoC failed to nominate any new RP to be appointed as the RP in accordance with the

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**Interpretation:** Section 22 of the IBC mandates the CoC to appoint a Resolution Professional.

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**Application:** The Tribunal directed the IRP to convene a meeting of COC wherein the COC

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Bhavan Trivedi…
- **Respondents:** Ramos Ceramic…; Sicer India…

## Timeline

- **2024-02-14 — CIRP Admi…**: Corporate Debtor…
- **2024-03-18 — First CoC M…**: First meeting of the CoC convened; members unable to reach a resolution regarding the…

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