2021 (7) TMI 1377 - Tri - Insolvency and Bankruptcy

Tribunal orders investigation against IRP for non-performance, directs action by IBBI

The Tribunal directed the Insolvency and Bankruptcy Board of India (IBBI) to investigate and take action against the Insolvency Resolution Professional ... Seeking to change the name of IRP appointed by the Bench Mr. Aditya Kumar - HELD THAT:- Learned Counsel has suggested the name of Mr. Nitish Kumar Sinha to be appointed whose form-2 is also filed alongwith application. We failed to understand that how after 330 days of CIRP period prescribed under the Code, such kind of application can be entertained. Be that as it may, we refer this matter to IBBI to make appropriate enquiry with respect to IRP appointed by the Bench and take appropriate action as required against said IRP. Application is disposed of with the direction to the IBBI to take appropriate steps. The Tribunal addressed an application by an Operational Creditor to change the name of the IRP appointed by the Bench due to non-performance. The Tribunal referred the matter to IBBI for investigation and appropriate action against the IRP. The application was disposed of with directions to IBBI to take necessary steps.