2019 (8) TMI 1552

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.... Creditor) against 'M/s. Sixth Dimensions Project Solution Limited' (Corporate Debtor), was admitted by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai in C.P. No. 587/I&BP/2018. 2. The 'Corporate Insolvency Resolution Process' continued for about 180 days and as no substantive progress was made, the 'Committee of Creditors' in its meeting held on 3rd October, 2018 resolved to appoint 'Mr. Santanu T. Ray', registered 'Resolution Professional' in place of 'Mr. S. Gopalakrishnan', Interim Resolution Professional, who was allowed to continue as 'Resolution Professional'. The prayer was also made to extend certain period to enable the 'Committee of Cre....

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....mits that 'Information-Memorandum' was not prepared because of non-cooperation of the Directors/Partners of the 'Corporate Debtor'. However, we find that the aforesaid fact was not brought to the notice of the Adjudicating Authority by the IRP - 'Mr. S. Gopalakrishnan' within 30 days during which the IRP was supposed to take possession of the record and the 'Corporate Debtor'. In fact, for one or other reason, the matter could not progress. In this background, the 'Committee of Creditors', by 100% voting share decided to replace the 'Resolution Professional' - 'Mr. S. Gopalakrishnan' and proposed another Resolution Professional - 'Mr. Santanu T. Ray'. As we find that the A....