Case Law Details
BVC Tradeport Private Limited Vs M/s Salebhai Internet Limited (NCLT Ahmedabad)
1. This application is filed on 21.11.2022 under Section 30(6) of Insolvency & Bankruptcy Code, 2016 by Mr. Vinod Tarachand Agrawal – Resolution Professional (RP) of the corporate debtor- M/s Salebhai Internet //Limited for approval of the Resolution Plan submitted by Mr. Smeet Dineshkumar Chaudhari.
2 .The averments made by the applicant/ resolution professional in the present application and as argued by the learned counsel are summarized as under:
(i) The corporate debtor was admitted in Corporate Insolvency Resolution Process (CIRP) on 08.12.202 1. Mr. Krunal Ramanbhai Tanna was appointed as Insolvency Resolution Professional (IRP). On 29.12.2021 the IRP made a public announcement of the CIRP of the corporate debtor thereby calling upon its creditors to submit their claim with requisite proof. The Committee of Creditors (CoC) was constituted with the sole operational creditor i.e. BVC Tradeport Private Limited having 100% voting percentage based on their debt
The said IRP was confirmed as RP, however in the 5th CoC meeting the CoC resolved to replace the RP and to appoint Mr. Vinod Tarachand Agrawal as RP. The same was approved by this Adjudicating Authority.
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