In the matter of GOODWILL IRON & STEEL TRADERS PRIVATE LIMITED
- CitationCP(IB) NO.39/ALD/2024
Ratio decidendi
The rule this decision rests on
The Tribunal may replace an insolvency resolution professional under the Insolvency and Bankruptcy Code, 2016 where the incumbent has expressed his inability to continue, and the replacement is a mere substitution of the professional on that ground that involves no contested issue; in such a case the Tribunal may appoint the proposed professional in place of the incumbent and direct that the fee ordered earlier be paid to the substituted professional.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
DIVISION BENCH ITEM NO.9 NATIONAL COMPANY LAW TRIBUNAL ALLAHABAD BENCH PRAYAGRAJ IA No.468/2026 IN CP (IB) No.39/ALD/2024 CORAM: 1. SH. PRAVEEN GUPTA, HON’BLE MEMBER (JUDICIAL) 2. SH. ASHISH VERMA, HON’BLE MEMBER (TECHNICAL) Date of Order: 28th July, 2026 Attendance-Cum-Order Sheet of the Hearing. NAME OF THE COMPANY M/S IIFL HOME FINANCE LIMITED V/S M/S GOODWILL IRON & STEEL TRADERS PRIVATE LIMITED UNDER SECTION 7 IBC (IN CIRP) COUNSEL APPEARED THROUGH PHYSICAL/ VIRTUAL HEARING: Sh. Gulshan Kumar Sachdeva, Adv. : For the Applicant/ IIFL ORDER IA No.468/2026 1. This application has been filed for replacement of the RP, Mr. Ruchir Batra on the ground that the IRP, who has been appointed in terms of para no.28 of the order dated 09.06.2026 has shown his inability to continue as RP. An email in this context has been sent by him on 24.06.2026, which is placed at page no.17 of the paper book. 2. Ld. Counsel representing the Applicant has proposed the name of Mr. Manish Agarwalla having IBBI Regn. No.IBBI/IPA-001/IP-P- 02082/2020-2021/13198, whose written consent in Form 2 is placed at page no.8 of the present application having valid AFA until 31.12.2026. 3. He also further submits that in terms of an order dated 09.06.2026, a fees of Rs.1,00,000/- was ordered to be paid to the IRP, Mr. Ruchir Batra. He further submits that this fees however has still not been taken by him, and therefore the said fees now may go to Mr. Manish Agarwalla, who is now recently being proposed by the Financial Creditor. -Sd- -Sd- -1/2-
4. We find that the prayer is innocuous and it is only a mere replacement of the IRP on the ground that he has shown his inability to continue. In view thereof, we allow the present application and appointment Mr. Manish Agarwalla, having IBBI Regn. No.IBBI/IPA-001/IP-P-02082/2020- 2021/13198 as RP in place of Mr. Ruchir Batra, and the fees of Rs.1,00,000/- as ordered in para no.30 of the aforesaid order dated 09.06.2026 would be paid to Mr. Manish Agarwalla. 5. IA No.468/2026 stands disposed off accordingly. 6. Let the matter be put up 18th August, 2026, i.e. the date already fixed.
-Sd- -Sd- (Ashish Verma) (Praveen Gupta) Member (Technical) Member (Judicial) 28th July, 2026 Kavya Prakash Srivastava (Stenographer)
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