# In the matter of Sparkspell Homes Private Limited IA (IB) No.357-ALD-2020 in CP (IB) No.76-ALD-2019

> NCLT judgment dated 2022-04-20. Citation: TCN-2022-NCLT-03174. The case involves an application (IA No.357/ALD/2020) filed by the members of the Committee of…

- **Court:** NCLT
- **Order date:** 20 Apr 2022
- **Citation:** TCN-2022-NCLT-03174
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sparkspell-homes-private-limited-ia-ib-no357-ald-2020-in-cp-ib-no76-ald-2019-c74c085b

## Summary

### Background

The case involves an application (IA No.357/ALD/2020) filed by the members of the Committee of Creditors (CoC) of Sparkspell Homes Private Limited seeking the replacement of the current Resolution Professional (RP). The Corporate Debtor was admitted into CIRP on 2019-08-28, and Mr. Mohit Maheshwari was initially appointed as the IRP, later replaced by Mr. Sudhir Shukla. The CoC filed an application for replacement of RP, which was allowed on 2020-08-31, and Mr. Anuj Kumar Tiwari was appointed as RP. The CoC alleges that the RP failed to perform his duties, withheld information, and acted in a biased manner. The CoC requested the RP to record the proceedings of the 9th CoC meeting, but the RP expressed his inability due to cost concerns. The CoC also requested the RP to

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## Facts

The members of the Committee of Creditors (CoC) of Sparkspell Homes Private Limited filed an application seeking the replacement of the current Resolution Professional (RP), Anuj Kumar Tiwari. The Corporate Debtor was admitted into CIRP on 2019-08-28, with Mr. Mohit Maheshwari initially appointed as the IRP, later replaced by Mr. Sudhir Shukla. The CoC alleges that the RP failed to perform his duties, withheld information, and acted in a biased manner. The CoC requested the RP to record the proceedings of the 9th CoC meeting, but the RP expressed his inability due to cost concerns. The CoC also requested the RP to convene a meeting for passing a resolution for the liquidation of the Corporate Debtor, but the RP did not consider it and filed frivolous applications

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## Issues and analysis

### Issue 1: Whether the application for the replacement of the …

**Ratio:** The intent of the Insolvency and Bankruptcy Code (IBC) is not to allow for frequent

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**Reasoning:** The court finds that the application for the third replacement of the RP is not in line

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**Interpretation:** The court interprets the IBC as discouraging frequent changes in the RP,

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**Application:** The court applies this reasoning to the present case, finding that the CoC's

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## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** Deepak Gupta(HUF)…
- **Respondents:** Sparkspell Homes…; Anuj Kumar…

## Timeline

- **2019-08-28 — CIRP Admi…**: Corporate Debtor…
- **2019-08-28 — Appointment…**: Mr. Mohit Maheshwari…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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