In the matter of JSM Devcons India Pvt. Ltd.
- CitationIA-7(MP)2024 in TP 230 of 2019 [CP (IB)192(MP)2017
Ratio decidendi
The rule this decision rests on
The Adjudicating Authority may, on an application by the Resolution Professional under Section 21(6A)(b) of the Insolvency and Bankruptcy Code, 2016, appoint an Insolvency Professional as the Authorized Representative of a class of financial creditors (here, plot buyers) where that appointment is made on the basis of the choice of the highest number of financial creditors in that class, as ascertained from their claims and recorded choices following the public announcement and the Authority's earlier direction.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
ADJUDICATING AUTHORITY BENCH AT INDORE IA/7(MP)2024 in TP 230 of 2019 [CP (IB)192(MP)2017] IA/7(MP)2024 [An application filed under Section 21(6A)(b) of the IBC, 2016] Ms. Chaya Gupta Resolution Professional of JSM Devcons India Pvt Ltd 911, Apollo Premier, Near Vijay Nagar Square, Indore, Madhya Pradesh-462023 Email-jsmdevcons.rp@gmail.com ……. Applicant In the matter of: TP 230 of 2019 [CP (IB)192(MP)2017] [An application under Section 7 of the Insolvency and Bankruptcy Code, 2016] Daimler Financial Services Pvt Ltd D-601, Unit 202, 2nd Floor, Campus 3B, RMZ Millenia Business Park No. 143, Dr. M.G.R. Road, Perungudi, Chennai-600096 ……Financial Creditor Vs. JSM Devcons India Pvt Ltd 306 & 502, Orbit Mall Scheme No. 5, Plot No. 305-306, A.B. Road, Indore-Madhya Pradesh-452001 ……..Corporate Debtor Coram: P. Mohan Raj, Hon’ble Member (J) Kaushalendra Kumar Singh, Hon’ble Member (T) Appearance: For Applicant : Ld. Adv. Mr. Rohit Dubey
Order Pronounced On 25.01.2024
NCLT INDORE BENCH IA/7(MP)2024 in TP 230 of 2019 [CP (IB)192(MP)2017]
O R D E R
1. This the application filed by the Resolution Professional Ms. Chaya Gupta for appointing Ms. Neha Firoda, an Insolvency Professional (having Registration No. IBBI/IPA-001/IP-P-01938/2020-2021/13093) as the Authorized Representative to represent the financial creditors under the category of plot buyers in the CIRP proceedings of the corporate debtor JSM Devcons India Pvt Ltd. 2. In the application, the applicant/resolution professional has stated that following the public announcement dated 06.12.2023, in compliance to this Adjudicating Authority’s order dated 01.12.2023, the plot buyers have submitted their claim and have also given their choice onto the proposed insolvency professionals, to represent them and accordingly Ms. Neha Firoda has been selected by the applicant, being choice of the highest number of financial creditors under the category of plot buyers, as the Authorized Representative to represent the financial creditors under the category of plot buyers. A detailed list of unsecured financial creditors as on 25.12.2023 has also been filed by the applicant through an additional affidavit. 3. Having considered the proposal as made by the applicant, we hereby appoint Ms. Neha Firoda (having Registration No. IBBI/IPA-001/IP-P- 01938/2020-2021/13093) as the Authorized Representative to represent the financial creditors under the category of plot buyers. The RP is directed to inform Ms. Neha Firoda as regards her appointment as Authorized Representative in the matter of CIRP in the case of corporate debtor JSM Devcons India Pvt Ltd. 4. Accordingly, IA/7(MP)2024 stands allowed and disposed of. Sd/- Sd/- KAUSHALENDRA KUMAR SINGH P. MOHAN RAJ MEMBER (TECHNICAL) MEMBER (JUDICIAL) Narendra S. Tomar/Stenographer
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