In the matter of Apple Land Development Private Limited

National Company Law Tribunal11 August 2025

CitationIA 3547/2025 in C.P.(IB)1051(MB)2023

Ratio decidendi

The rule this decision rests on

The Committee of Creditors may, by a resolution passed with the requisite majority, recommend the replacement of an Interim Resolution Professional who is unwilling to continue, and the Adjudicating Authority may approve that recommended insolvency professional as the Interim Resolution Professional in his place, where the replacement is made on the CoC's recommendation following the unwillingness of the incumbent to continue.

Written by Miss Lucy from the judgment below, not taken from a headnote.

Judgment

As delivered

NATIONAL COMPANY LAW TRIBUNALMUMBAI BENCH COURT IIItem No. 6IA 3547/2025 in C.P.(IB)1051(MB)2023CORAMSHRI SANJIV DUTT SHRI ASHISH KALIAHON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)ORDER SHEET OF HEARING (HYBRID) DATED 11.08.2025NAME OF THE PARTIES: Mobile Constructions Private Limited Vs.Apple Land Development Private LimitedAppearance:For Applicant : Adv. Avinash R. Khanolkar Adv. KhushbuBhanushali & Adv. Surekha yadavFor Respondent : NoneIBC Under Section 7, Section 22

ORDER IA 3547/2025 1. The present Application has been filed by the Committee of Creditors. The following reliefs are sought: - a) Be pleased to allow this application; b) Be pleased to admit the said Application under section 27 of the Insolvency and Bankruptcy Code, 2016, accordingly replace the Interim Resolution Professional Mr. Nilesh Kothari and appoint Ms. Pavitra Vyas as the Resolution Professional

1. It is submitted that Mr. Nilesh Kothari, the Interim Resolution professional expressed his unwillingness to continue as the Resolution Professional of the Corporate Debtor and thus requested the CoC to recommend the name of an Insolvency Professional to act as the Resolution professional of the Corporate Debtor.

2. The First Meeting of the Committee of Creditors (COC) of the Corporate Debtor was held on 19.07.2025 wherein the CoC Members resolved to replace Mr. Nilesh Kothari, the Interim Resolution professional and " proposed the name of Ms. Pavitra Vyas having IBBI registration number IBBI/IPA-002/IP NO1144/2021 2022/13844 to be appointed as the Resolution Professional with 98.31% voting. Hence, this Present Application. 3. Having considered the submissions made by the Counsel for the Applicant and facts mentioned in the present Application, we deem it appropriate to approve the appointment of Ms. Pavitra Vyas as Insolvency Professional having registration no. IBBI/IPA-002/IP NO1144/2021 2022/13844 as Interim Resolution Professional, in place of IRP Mr. Nilesh Kothari. Accordingly, IA 3547/2025 is allowed and disposed of.

Sd/- Sd/- SANJIV DUTT ASHISH KALIA MEMBER (TECHNICAL) MEMBER (JUDICIAL) Swapnil

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