LAWS(NCLT)-2017-9-381

PRAMOD KAPSE AND ORS Vs. PHADNIS PROPERTIES LIMITED

Decided On September 14, 2017
PRAMOD KAPSE AND ORS Appellant
V/S
PHADNIS PROPERTIES LIMITED Respondents

JUDGEMENT

(1.) The present Company Petition bearing C.P. No. 1029/I & BP/NCLT/MB/MAH/2017 is filed by Mr. Pramod Kapse & 17 Others through their Power of Attorney Holder, Mr. Pramod Kapse (Petitioners/Operational Creditors) against M/s. Phadnis Properties Limited, (Respondent/Corporate Debtor), praying:

(2.) The case was listed for the first time before the Adjudicating Authority Shri M.K. Shrawat, Member (Judicial) on 04.07.2017, wherein the advocate for the petitioner is present. He was directed to propose the name of Insolvency Resolution Professional and the matter was listed for hearing on 10-07-2017. The learned representative of the creditor present before the specially constituted division bench of Shri M.K. Shrawat, Member (Judicial) & Dr. Ashok Kumar Mishra, Member (Technical), the petitioner not proposed the name of Insolvency Professional and the matter was adjourned to 24-07-2017 for compliance. The petitioner appeared before the specially constituted Division Bench comprising of Shri M.K. Shrawat, Member (Judicial) and Shri Ravikumar Duraisamy, Member (Technical).

(3.) The petitioner submitted a letter dated nil received by the Tribunal on 21-7-2017 regarding written communication received from Interim Resolution Professional Mr. Kiran Kunte (Form-lI) the proposed Interim Resolution Professional Regd. No. IBBI/IPA-001/IP-P00074/2017-18/10159. He also certified that there are no disciplinary proceedings pending against him and he is eligible to be appointed as Resolution Professional.