In the matter of Ekdant Buildtech Private Limited
- CitationIA/497 & 1698/ND/2025 in IB/1144/ND/2019
Ratio decidendi
The rule this decision rests on
The Tribunal allowed the application under Section 27 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 22A of the IBBI (Insolvency Professionals) Regulations, 2016, and replaced the sitting Resolution Professional with the proposed insolvency professional entity. The order states no reasoning beyond the bare conclusion that the Tribunal was "inclined to allow" the application in light of the submissions and averments made, so no principle is articulated from which a ratio can be extracted.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE NATIONAL COMPANY LAW TRIBUNAL: NEW DELHI COURT – IV Item No. 419 IA/1698/ND/2025, IA/497/ND/2025 in IB/1144/ND/2019 IN THE MATTER OF: M/s P.S.T Tranding And Components … Applicant Versus Ekdant Buildtech Pvt. Ltd. … Respondent Under Section 9 of Insolvency & Bankruptcy Code, 2016. Order delivered on 08.05.2025 CORAM: SHRI MANNI SANKARIAH SHANMUGA SUNDARAM, HON’BLE MEMBER (JUDICIAL) SHRI ATUL CHATURVEDI, HON’BLE MEMBER (TECHNICAL) PRESENT: For the CoC : Mr. Rajinder Wali, Adv. in IA 497/2025 For the Applicant : Mr. Aditya Kumar Jha, Adv. For R-2 in IA 497 HYBRID HEARING (PHYSICAL & VC) IA/497/ND/2025 This is an application filed under Section 27 of the Insolvency and Bankruptcy Code 2016, read with Regulation 22A of the Insolvency and Bankruptcy Board of India (insolvency Professionals) Regulations, 2016. The prayers mentioned in the application are mentioned below:
a) Allow the present Application and Replace Mr. Chetan Gupta as the Resolution Professional with ARCK Resolution Professionals LLP, through Sh. Anil Kohli, Designated Partner (Registration No. IBBI/IPE-0030/IPA-1/2022-23/S0013) as the Resolution Professional for Ekdant Buildtech Pvt. Ltd. b) Pass such other and further orders as this Hon'ble Tribunal may deem fit and In the circumstances of the case. Taking into consideration the said submissions made by the Learned Counsel for the Applicant as well as the averments contained in the Application, this Adjuidcating Authority is inclined to allow the present application i.e. IA/497/ND/2025, consequently, Mr. Chetan Gupta, Resolution Professional
MUKESH with ARCK Resolution Professionals LLP, is hereby replaced with Mr. Anil Kohli, Designated Partner (Registration No. IBBI/IPE-0030/IPA-1/2022- 23/S0013) as the Resolution Professional for Ekdant Buildtech Pvt. Ltd. Therefore, the present application i.e. IA/497/ND/2025 stands allowed and disposed of.
IA/1698/ND/2025 List on 26.05.2025.
Sd/- Sd/- ATUL CHATURVEDI MANNI SANKARIAH SHANMUGA SUNDARAM MEMBER (TECHNICAL) MEMBER (JUDICIAL)
MUKESH
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