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2022 (12) TMI 1057 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHISeeking replacement of Resolution Professional (RP) - HELD THAT:- There was no consensus in the name of the Resolution Professional and it was open for the Adjudicating Authority to appoint any Resolution Professional. However, there being no consensus between the parties, Memo filed by ‘Indiabulls Housing Finance Ltd.’ could not have been taken notice or Resolution Professional appointed on the basis of said Memo. Out of three Applicants, two Applicants had filed Joint Memo namely- ‘SREI Equipment Finance Ltd.’ and ‘IIRF India Realty XII Ltd.’ recommending the name of Mr. Avil Jerome Menezes. Why the Adjudicating Authority did not choose the name suggested by two Applicants and accepted the name suggested by one Applicant- ‘Indiabulls Housing Finance Ltd.’ has not been dealt with the order. When the clear intent of the order dated 28.11.2022, is that unless the Applicants mutually agree on any name of the Resolution Professional, Resolution Professional will be appointed by the Adjudicating Authority, and it was clear that there was no consensus with regard to the name of the Resolution Professional between three Applicants, the Adjudicating Authority ought to have appointed Resolution Professional on its own without referring to or relying to any prayer made by the Applicant- ‘Indiabulls Housing Finance Ltd.’. The Adjudicating Authority committed error in appointing Mr. Sapan Mohan Garg as Resolution Professional whose name was submitted by Memo filed by ‘Indiabulls Housing Finance Ltd.’. The order dated 28.11.2022 (in order sheet) insofar as it appoints Mr. Sapan Mohan Garg as Resolution Professional is set aside and the Adjudicating Authority is directed to pass an order appointing any Resolution Professional from the eligible Resolution Professional as it deem fit and proper. The Order passed insofar as it appoints Mr. Sapan Mohan Garg as Resolution Professional is set aside - Appeal allowed in part.
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