The Applicant, M/s. Manjeera Constructions Ltd., was a 20% partner in Respondent No.1, Vasavi Realtor LLP.

The Applicant was admitted into CIRP on 18.07.2023.

During the CIRP, Respondent Nos. 2 to 5 removed the Applicant as a partner of Respondent No.1 by a resolution dated 11.03.2024.

The Applicant's 20% partnership interest was reflected as an investment asset in the Information Memorandum issued during the CIRP.

Respondent No.1 invoked Clause 24.3(d) of the LLP Agreement, which allows for the expulsion of a partner if they have applied to be adjudged as an insolvent.

The Respondents contended that the removal was a contractual consequence under the LLP Agreement and did not violate the moratorium under Section 14 of the IBC.

The Applicant, M/s. Manjeera Constructions Ltd., was a 20% partner in Respondent No.1, Vasavi Realtor LLP.

The Applicant was admitted into CIRP on 18.07.2023.

During the CIRP, Respondent Nos. 2 to 5 removed the Applicant as a partner of Respondent No.1 by a resolution dated 11.03.2024.

The Applicant's 20% partnership interest was reflected as an investment asset in the Information Memorandum issued during the CIRP.

Respondent No.1 invoked Clause 24.3(d) of the LLP Agreement, which allows for the expulsion of a partner if they have applied to be adjudged as an insolvent.

The Respondents contended that the removal was a contractual consequence under the LLP Agreement and did not violate the moratorium under Section 14 of the IBC.