# In the matter of Snehanjali and S.B. Developers Private Limited

> NCLT judgment dated 2024-10-01. Citation: TCN-2024-NCLT-00516. The case involves urgent issues raised by the Counsel for Applicants regarding the e-voting…

- **Court:** NCLT
- **Order date:** 1 Oct 2024
- **Citation:** TCN-2024-NCLT-00516
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/snehanjali-and-sb-developers-private-limited-65954f11

## Summary

### Background

The case involves urgent issues raised by the Counsel for Applicants regarding the e-voting process for Resolution Plans in a Corporate Insolvency Resolution Process (CIRP). The Applicants claim they were not informed in advance about the e-voting, and the conduct of the Resolution Professional (RP) and Authorised Representative (AR) is prejudicial and not in conformity with Insolvency and Bankruptcy Board of India (IBBI) regulations. The Committee of Creditors (CoC) consists only of homebuyers represented by the AR.

## Facts

The Counsel for Applicants raised an urgent issue regarding the e-voting process for Resolution Plans, stating that the Applicants were not informed in advance about the e-voting. The 6th COC meeting dated 27.09.2024, convened for discussing the Resolution Plans, did not have a specific agenda regarding e-voting. An email dated 30.09.2024 indicated that e-voting commenced on 30.09.2024 and would end on 02.10.2024. The Counsel for Applicants argued that the conduct of the RP and AR was prejudicial and not in conformity with IBBI regulations. The CoC consists only of homebuyers represented by the AR. The Counsel for Respondent (RP) argued that information regarding e-voting was shared by the agency chosen for the purpose and that the RP should not be held liable for any

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## Issues and analysis

### Issue 1: Whether the Resolution Professional (RP) and Authorised Representative (AR) acted appropriately in …

**Ratio:** The AR, being an Insolvency Professional (IP), is legally bound to act in an independent

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**Reasoning:** The court emphasized that both the RP and AR must maintain integrity, impartiality, and

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**Interpretation:** This interpretation reinforces the importance of adherence to the principles of

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**Application:** Given the Applicants' concerns about lack of advance notice and potential

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## Parties

- **Judges:** SANJIV…; K. R. SAJI…
- **Appellants:** Santosh S…
- **Respondents:** Snehanjali And…

## Timeline

- **2024-09-27 — 6th COC M…**: The 6th Committee of Creditors (COC) meeting was convened for discussing the Resolution…
- **2024-09-29 — Email from Ho…**: Some of the homebuyers requested the AR to start the e-voting so that CIRP is concluded…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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