# In the matter of SONI SOYA PRODUCTS LIMITED

> NCLT judgment dated 2026-02-17. Citation: TCN-2026-NCLT-00166. The applicant, Samunnati Financial Intermediation and Services Pvt Ltd, filed an application…

- **Court:** NCLT
- **Order date:** 17 Feb 2026
- **Citation:** TCN-2026-NCLT-00166
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/soni-soya-products-limited-96c7654d

## Summary

### Background

The applicant, Samunnati Financial Intermediation and Services Pvt Ltd, filed an application under Section 60(5) of the IBC, 2016, seeking the appointment of Mr. Harsh Firoda as the Interim Resolution Professional (IRP) for Soni Soya Products Ltd.

## Facts

Samunnati Financial Intermediation and Services Pvt Ltd filed an application to appoint an IRP for Soni Soya Products Ltd.

Mr. Navin Khandelwal was initially appointed as the IRP but expressed his inability to continue due to regulatory limitations.

Mr. Navin Khandelwal was handling ten assignments and was ineligible to accept the present assignment as IRP of the Corporate Debtor.

The applicant proposed the name of Mr. Harsh Firoda as the new IRP.

Mr. Harsh Firoda provided his written consent and relevant documents for the appointment.

The Tribunal admitted the main petition on 08.01.2026.

The Tribunal appointed Mr. Harsh Firoda as the IRP in place of Mr. Navin Khandelwal.

## Issues and analysis

### Issue 1: Whether the Tribunal should allow the replacement of the initially appointed Interim Resolution …

**Ratio:** Section 60(5) of the IBC, 2016 read with Rule 11 of the NCLT Rules, 2016 allows the

…

**Reasoning:** The initial IRP expressed his inability to continue due to regulatory limitations,

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**Interpretation:** The Tribunal has the power to appoint a new IRP if the initially appointed IRP

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**Application:** The Tribunal considered the circumstances and appointed Mr. Harsh Firoda as the

…

## Parties

- **Judges:** Brajendra Mani…; Man Mohan…
- **Appellants:** Samunnati…
- **Respondents:** Soni Soya…
- **Other parties:** Harsh F…; Navin Khan…
- **Advocates:** Rohit D…

## Timeline

- **08.01.2026 — Admission…**: The main petition was admitted by the Tribunal, and Mr. Navin Khandelwal was appointed as…
- **14.01.2026 — Communication Regarding…**: Mr. Navin Khandelwal communicated his inability to continue as IRP due to regulatory…

## 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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