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TMI Blog2020 (5) TMI 725X X X X Extracts X X X X X X X X Extracts X X X X ..... terim order dated 12/03/2020 observed that we require more than 66% of CoC members for changing the Resolution Professional and for want of proof of passing a resolution for replacement of the RP the Bench has not granted the relief asked for and adjourned the application for hearing the RP and listed on 13.04.2020. Since there was no regular court sitting due to disruption of judicial work due to COVID-19 pandemic, this application was not taken up for hearing on 13.04.2020 and taken up on today at the request of the applicant. Admittedly the CoC was reconstituted. After reconstitution, the applicant holds only 25.07% voting share while the other financial creditor is holding 74.93% voting share. Whether the reconstitution is proper o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olution was passed earlier by 100% vote share for change of RP while this application is being moved, RP received one more claim from the creditor, due to which voting percentage of the applicant reduced to 25% only. We require more than 66% of the CoC members to change RP. Issue notice to the RP. He did not appear in person. If he does not appear, this application shall be heard and disposed off without his presence. Matter to appear on 13/04/2020 2. The then sole financial creditor(FC) filed an application praying for urgent hearing of the IA(IB) No. 392/KB/2020 through E-mail because of pandemic COVID 19, locked down was declared and is still continuing, the matter could not be taken up for further consideration on 13/04/2020. The ur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en care by the RP and he failed and/or neglected to consider the said request. Moreover, the Corporate Debtor Company had already been struck off and as such there are various additional expenses to be incurred during the CIRP period. She also would submit that adding one another claim of the financial creditor on the strength of CD financial statement is doubtful and that he relied upon an un stamped financial statement which was then corrected with impression of seal of the auditor with different color so as to doubt the conduct and working of the RP. According to her the claim of the newly inducted financial creditor is barred by limitation. To sum up the applicant challenges the integrity of the RP, illegal admission of claim of the fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant and the RP was heard at length. Upon hearing the arguments on both sides, and upon perusal of the documents, the short point that arises for determination is whether this application without supporting any resolution for removal/replacement of the RP is maintainable u/s 22(2) or 27(2) of the Code? 9. Admittedly the applicant had never moved any resolution in the CoC as per section 22(2) or u/s. 27(2) of the Code, and therefore, there was no resolution being adopted for such replacement. It appears to me that in the said circumstance this Adjudicating Authority could not entertain an application of this nature. It is significant to note that this application was heard by the Bench No 2 and Ld. Bench vide its interim order dated 12/03/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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