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2019 (8) TMI 1552 - AT - Insolvency and BankruptcyApplication for change of 'Interim Resolution Professional' - appointment of 'Mr. Santanu T. Ray' as 'Resolution Professional' though the decision was taken with 100% voting share of 'Committee of Creditors' - rejection on the ground that 'Committee of Creditors' failed to put forth any tenable or valid or genuine reasons for the same - HELD THAT:- The Adjudicating Authority rejected application on the basis that no specific ground has been given for replacement of 'Mr. S. Gopalakrishnan', but we are of the opinion that if any ground is given against the 'Resolution Professional' - 'Mr. S. Gopalakrishnan' for removal, it would require first decision on the correctness of the ground and would delay 'IRP' and such procedure is not in interest of the process. Sections 22 and 27 of the I&B Code do not require giving reasons for replacement and Adjudicating Authority is not required to decide on such reasons. The 'Committee of Creditors', therefore, did not reflect any allegation or any proceeding against 'Mr. S. Gopalakrishnan' and simply decided to replace him. Further in the facts and circumstances, we are of the view that the Adjudicating Authority though decided the matter relating to the 'Resolution Professional' should have also decided the extension of period. We make it clear that the 'Committee of Creditors' having not recorded any allegation against 'Mr. S. Gopalakrishnan', IRP/ RP, should not be taken into consideration for any action against 'Mr. S. Gopalakrishnan'. The 'Committee of Creditors' to engage 'Mr. Santanu T. Ray' as 'Resolution Professional' if there is no proceeding pending against him is allowed - Insofar as the fee and cost incurred by 'Mr. S. Gopalakrishnan' is concerned, he will place the evidence in support of the fee and cost incurred by him and 'Committee of Creditors' will decide the same and admitted dues to be released in his favour by the 'Committee of Creditors', which may be adjusted from the resolution cost. 'Mr. S. Gopalakrishnan' will hand over the charge to 'Mr. Santanu T. Ray'. Appeal allowed.
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