IN RE Vs. SKY BLUE PAPERS PVT LTD

JUDGEMENT

(1.) C.A. No.151/2017

(2.) This application has been filed by the Punjab National Bank under section 27 of the Insolvency and Bankruptcy Code, 2016 for replacement of the Resolution Professional. The name of Mr. Prem Kumar Garg proposed Resolution Professional was forwarded to the Insolvency and Bankruptcy Board of India vide order 27.09.2017 for its confirmation. The Insolvency and Bankruptcy Board of India has accorded the confirmation to the name of Mr. Prem Kumar Garg, Registration No.IBBI/IPA-001/IP-P00346/2017-18/10647, SCO 2461, Sector 22-C, Chandigarh as the Resolution Professional vide letter No.IBBI/IP/REP/NCLT/CHD/2017/13F dated 3.10.2017.

(3.) In view of the above, Mr. Prem Kumar Garg is appointed as the Resolution Professional in place of Mr. Jalesh Grover with direction to continue with the insolvency resolution process in accordance with the provisions of the Code, rules and regulations framed thereunder. Copy of this order be communicated to the learned counsel for the Bank. Mr. Prem Kumar Garg present is also directed to collect copy of this order with direction to continue with the insolvency resolution process and keep on sending progress reports every ten days to this Tribunal. Mr. Jalesh Grover be directed to hand over entire proceedings conducted by him including copies of the progress reports and minutes of all the meetings of Committee of Creditors alongwith the resolution plan which was submitted by the Corporate Debtor and other documents. CA No.154/2017, therefore, stands disposed of.