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2022 (3) TMI 993 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI BENCH, KOCHISeeking permission to appoint Mr. Parameswaran Nair as the RP of the Corporate Debtor M/s. Samson and Sons Builders and Developers Pvt. Ltd. - HELD THAT:- On going through the Minutes of the 2ndMeeting of the CoC held on 10.01.2022 and the written consent in Form AA-Under Regulation 3(1A) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 of Mr. K Parameswaran Nair who agreed to act as the Resolution Professional and the CoC resolved to appoint him - In the 1st meeting of CoC held on 23.12.2021 as Item No. B5 the appointment of Resolution Professional and to fix his fee was discussed in which it is stated that the IRP informed the members of CoC that he is eligible to be appointed as Resolution Professional on a Professional fee of ₹ 5,00,000/- per month. It is also stated that since all the Coc members disagreed to the professional fee quoted by the IRP, the IRP may reconsider or revive the fee, however IRP informed that if a competitive fee is not offered the IRP shall decline to be appointed as an RP. In the 2nd CoC meeting held on 10.01.2022, the CoC as Resolution No. B3 resolved that Shri. K. Parameswaran Nair be appointed as the RP of M/s. Samson and Sons Builders and Developers Pvt. Ltd. (Corporate Debtor). Under Section 22 (3) (b) of IBC in order to replace the IRP and appoint another professional as RP, the CoC is competent to file an application before the Adjudicating Authority for the appointment of the proposed Resolution Professional along with his written consent. Since the CoC did not accept the fee quoted by the IRP, which is on the higher side, they have resolved to appoint another Insolvency Professional as RP and filed this application enclosing the written consent of Shri. K Parameswaran Nair. Application disposed off.
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