# In the matter of Shaila Hospitality Private Limited

> NCLT judgment dated 2024-07-11. Citation: TCN-2024-NCLT-01027. The case involves an application, IA/3561/2024, seeking the replacement of the Interim…

- **Court:** NCLT
- **Order date:** 11 Jul 2024
- **Citation:** TCN-2024-NCLT-01027
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/shaila-hospitality-private-limited-2abc7d14

## Summary

### Background

The case involves an application, IA/3561/2024, seeking the replacement of the Interim Resolution Professional (IRP) with a Resolution Professional (RP). The application is filed under Section 9 of the Insolvency and Bankruptcy Code, 2016.

## Facts

Shree Sai Decorators, represented by sole proprietor Pramod Kumar, initiated a case against Shaila Hospitality Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The specific application, IA/3561/2024, sought the replacement of the Interim Resolution Professional (IRP) with a Resolution Professional (RP), Shri Uday Kumar Bhaskar Bhatt. The Committee of Creditors (CoC) had already granted approval for this replacement, and the written consent of the RP and authorization of assignment were presented to the court. The court considered these facts and the submissions of the learned counsel before making its decision.

## Issues and analysis

### Issue 1: Whether the Interim Resolution Professional (IRP) should be replaced with the proposed Resolution …

**Ratio:** The approval of the Committee of Creditors (CoC) is a significant factor in decisions

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**Reasoning:** The court's reasoning is based on the fact that the CoC had already approved the

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**Interpretation:** This case highlights the importance of the CoC's role in the insolvency

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**Application:** In this specific case, the CoC's approval, along with the RP's written consent

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** Shree Sai…
- **Respondents:** Shaila Hospitality…

## Timeline

- **2024-07-11 — Order Del…**: Order delivered on the…

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