# In the matter of Three C Projects Pvt. Ltd. (IB)-1718(PB)-2018

> NCLT judgment dated 2022-06-03. Citation: TCN-2022-NCLT-02425. The case involves Shiv Dayal Sharma & Ors. as the applicant/petitioner and Three C Projects…

- **Court:** NCLT
- **Order date:** 3 Jun 2022
- **Citation:** TCN-2022-NCLT-02425
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/three-c-projects-pvt-ltd-ib-1718pb-2018-db3340b5

## Summary

### Background

The case involves Shiv Dayal Sharma & Ors. as the applicant/petitioner and Three C Projects Pvt. Ltd. as the respondent. The matter pertains to an order under Section 7 of the Insolvency & Bankruptcy Code, 2016, CIRP. The initial orders were passed on 14.12.2021 and 22.12.2021, focusing on the verification of homebuyers and the appointment of an Authorized Representative to represent them as financial creditors. The court appointed a commissioner to oversee the meeting of homebuyers and the election of a new Authorized Representative.

## Facts

Shiv Dayal Sharma & Ors. filed a case against Three C Projects Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The court initially ordered a proper verification of the homebuyers to choose a new Authorized Representative. Hon'ble Justice (Retd.) Rajiv Sahai Endlaw was appointed as a commissioner, assisted by Dr. Rakesh Kumar Gupta, to conduct the meeting of homebuyers and elect a new Authorized Representative. The report of the commissioner indicated that Mr. Anoop Kumar Awasthi received 34.97% of the votes and was appointed as the Authorized Representative. The court also addressed applications related to the removal/replacement of the Resolution Professional. The order was delivered on 03.06.2022.

## Issues and analysis

### Issue 1: Whether a commissioner should be appointed to oversee the meeting of homebuyers and the election of …

**Ratio:** The court has the authority to appoint a commissioner to ensure a fair and transparent

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**Reasoning:** The court reasoned that appointing a commissioner, specifically a retired judge, would

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**Interpretation:** The interpretation involves the court's power to intervene in the CIRP process

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**Application:** The court applied this principle by appointing Hon'ble Justice (Retd.) Rajiv

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## Parties

- **Judges:** Ramalingam…; Sh. Hemant Kumar…
- **Appellants:** Shiv Dayal…
- **Respondents:** Three C Projects…

## Timeline

- **2021-12-14 — Initial…**: Order passed regarding the…
- **2021-12-22 — Order for Commissioner…**: Order passed regarding the appointment of a commissioner to oversee the election of the…

## 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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