# In the matter of VRJ Traders Pvt. Ltd. IB-151-ND-2021

> NCLT judgment dated 2022-05-24. Citation: TCN-2022-NCLT-04783. This is an application under Section 22 of the Insolvency and Bankruptcy Code, 2016 for…

- **Court:** NCLT
- **Order date:** 24 May 2022
- **Citation:** TCN-2022-NCLT-04783
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/vrj-traders-pvt-ltd-ib-151-nd-2021-94789a98

## Summary

### Background

This is an application under Section 22 of the Insolvency and Bankruptcy Code, 2016 for confirming the appointment of IRP as RP.

## Facts

An application was filed under Section 22 of the Insolvency and Bankruptcy Code, 2016.

The application sought confirmation of the appointment of the IRP as RP.

The Counsel for the Resolution Professional made submissions.

The Counsel for the RP (erstwhile IRP) made submissions.

The RP confirmed consent to act as RP.

The RP submitted that the fees have been fixed by the CoC.

The Tribunal confirmed the continuation of IRP as RP.

The application was allowed.

## Issues and analysis

### Issue 1: Whether the appointment of the Interim Resolution Professional (IRP) as Resolution Professional …

**Ratio:** Section 22 of the Insolvency

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**Reasoning:** The Tribunal considered the submissions made by the Counsel for the Resolution

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**Interpretation:** Section 22 allows for the

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**Application:** The Tribunal confirmed the continuation of IRP as RP based on the submissions

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## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Respondents:** VRJ Traders Pvt.…
- **Advocates:** Snehal S…; Alok Kumar…

## Timeline

- **2022-05-24 — Order Del…**: Order delivered on…

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