# In the matter of Srasthi Build con Private Limited

> NCLT judgment dated 2025-11-07. Citation: TCN-2025-NCLT-01619. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, and…

- **Court:** NCLT
- **Order date:** 7 Nov 2025
- **Citation:** TCN-2025-NCLT-01619
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/srasthi-build-con-private-limited-ac5aed31

## Summary

### Background

The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of the NCLT Rules, 2016, seeking reliefs related to the appointment of an Interim Resolution Professional (IRP) and the status of the applicant's Authorisation for Assignment (AFA).

## Facts

Keyur Jagdishbhai Shah filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016.

Srasthi Buildcon Private Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on 09.10.2025.

The applicant's AFA certificate was 'on hold' due to pending disciplinary proceedings initiated by IBBI.

The Respondent/Corporate Debtor proposed the name of Ms. Mayuri Daga as the Interim Resolution Professional (IRP).

Ms. Mayuri Daga has a valid Authorisation for Assignment (AFA) and no disciplinary proceedings are pending against her.

The CIRP of the Corporate Debtor was on hold for a certain period due to the applicant's AFA status.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should appoint a new Interim Resolution Professional (IRP) given …

**Ratio:** The Adjudicating Authority has the power to appoint an IRP under Section 60(5) of the

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**Reasoning:** The applicant's AFA status being 'on hold' due to pending disciplinary proceedings

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**Interpretation:** The Adjudicating Authority interprets the relevant provisions to allow for the

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**Application:** The Adjudicating Authority appointed Ms. Mayuri Daga as the new IRP,

…

## Parties

- **Judges:** Brajendra Mani…; Man Mohan…
- **Appellants:** Keyur Jagdishbhai…
- **Respondents:** Srasthi Build Con…; Tehseen…
- **Other parties:** Mayuri…
- **Advocates:** Randhir Raj…; Noopur…

## Timeline

- **2025-10-09 — Admission in…**: Srasthi Buildcon Private Limited was admitted into Corporate Insolvency Resolution…
- **2025-10-27 — Affidavit i…**: The Respondent/Corporate Debtor filed Affidavit in Reply dated 27.10.2025 and has…

## 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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