# Vinod Kumar Sharma & Ors. vs. Narender Kumar Sharma & Ors.

> NCLT judgment dated 2026-08-19. Citation: TCN-2026-NCLT-00975. An application was filed under Section 60(5) of the IBC, 2016, read with Rule 11 of the NCLT…

- **Court:** NCLT
- **Order date:** 19 Aug 2026
- **Citation:** TCN-2026-NCLT-00975
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/vinod-kumar-sharma-ors-vs-narender-kumar-sharma-ors-qp1f8

## Summary

### Background

An application was filed under Section 60(5) of the IBC, 2016, read with Rule 11 of the NCLT Rules, 2016, by Vinod Kumar Sharma, Nalin Kant Bhardwaj, and Pushpa Rani Bhardwaj (Applicants) against Narender Kumar Sharma (IRP) and four other Respondents. The Applicants sought the cancellation of the IRP's appointment, disciplinary action against the IBBI, and the appointment of an alternate IRP. The Corporate Debtors, Anand Infoedge Pvt. Ltd., Mist Avenue Pvt. Ltd., and Mist Direct Sales Pvt. Ltd., were admitted into CIRP on 19.07.2024, and Narender Kumar Sharma was appointed as IRP. The Applicants alleged that the IRP did not possess a valid Authorization for Assignment (AFA) on the date of his appointment and had pending investigations against him, which he concealed.

## Facts

An application was filed under Section 60(5) of the IBC, 2016, read with Rule 11 of the NCLT Rules, 2016.

The application was filed by the Applicants against the IRP and 4 other Respondents.

The Corporate Debtors (Anand Infoedge Pvt. Ltd., Mist Avenue Pvt. Ltd., and Mist Direct Sales Pvt. Ltd.) were admitted into CIRP vide order dated 19.07.2024.

Respondent No.1, Narender Kumar Sharma, was appointed as Interim Resolution Professional (IRP).

The IRP was directed to file a valid Authorization for Assignment (AFA) and an undertaking of no pending investigation within 5 days of his appointment.

On the date of his appointment (19.07.2024), the IRP had no valid AFA and an investigation was pending against him before the IBBI.

…

## Issues and analysis

### Issue 1: Whether on the date of admission …

**Ratio:** An insolvency professional shall not accept or undertake an assignment unless he holds a

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**Reasoning:** The IRP, Narender Kumar Sharma, was facing disciplinary proceedings (first since

…

**Interpretation:** Regulation 7A of IBBI (IP) Regulation, 2016, clearly mandates a valid AFA on

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**Application:** The IRP, Narender Kumar Sharma, did not possess a valid AFA on 19.07.2024, the

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## Parties

- **Judges:** JYOTSNA S…; Anu Jagmoha…
- **Appellants:** Vinod Kumar…; Nalin Kant…; +1 more
- **Respondents:** Anand Infoedge…; Mist Avenue Pvt.…; +6 more
- **Other parties:** Sudhir Kumar…
- **Advocates:** Shyam Kisha…; Sahil S…; +3 more

## Timeline

- **2021-11-01 — Insolvency Petition…**: The petition for insolvency was filed in…
- **2023-10-30 — Show Cause Notice 1…**: A show cause notice (IBBI/DC/2027/2024) was issued to Mr. Narender Kumar Sharma by the…

## 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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