IN RE Vs. CLUTH AUTO LIMITED

JUDGEMENT

(1.) Ca No. 179(PB) /2017 This is an application filed under Section 22 of the Insolvency 8b Bankruptcy Code read with Rule 11 of the NCLT Rule seeking permission to replace the Interim Resolution Professional with another Resolution Professional on the recommendation of the committee of the creditors representing more than 75% of the voting rights.

(2.) In the meeting held on 24.05.2017, a resolution at Item no. 5 was passed and it was resolved to replace the Interim Resolution Professiornwith that of Mr. Sandeep Kumar Gupta having 1BBI Registration No. IBBI/IPA-002/IP-N00115/2017- 18/ 10280.

(3.) It is pertinent to notice that written consent of members of the committee holding 98.1% of voting right have supported the aforesaid replacement.