2022 (6) TMI 8

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....essional of M/s. Kerala Chamber of Commerce and Industry seeking the following relief:- * To appoint Mr. Rajendran P.R., Insolvency Professional, holder of IBBI/IPA-001/IP-P01748, 2019-2020/12717 Reg Address: Padijareparippil, Kulayettikara P.O., Kanjiramattom, Ernakulam 682 317, Kerala as Authorized Representative (AR) for the class of creditors in Kerala Chamber of Commerce and Industry (Allottees of Commercial and Residential space) in view of the same having been selected by the Class of Creditors. 2. The brief facts of the case are as under:- 3. The application for initiation of Corporate Insolvency Resolution Process, (CP(IB)/33/KOB/2021) filed under Section 7 of the Insolvency and Bankruptcy Code read with Rule 4 of In....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n by the Committee. 6. It is stated that pursuant to Section 21(6A)(b) of the Insolvency and Bankruptcy Code, 2016 read with Regulation 16A(1) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the IRP identified that the Corporate Debtor has more than ten Financial Creditors in the Homebuyers class of Creditors and offered a choice of three Insolvency Professionals through the public announcement, thereby calling the Allottees to indicate their choice of an Insolvency Professional from amongst the three, to act as their Authorized Representative for CIRP. The following are the three persons suggested by the IRP:- 1) Shri Rajendran P.R., C.A. 2) Shri ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Creditors-allottees of commercial and residential space of the Corporate Debtor. We have also gone through Section 21(6A)(b) of the IBC, 2016 which is quoted below:- Section 21-Committee of creditors. (6A) Where a financial debt- (a) *********** ********* ********** ************ (b) is owed to a class of creditors exceeding the number as may be specified, other than the creditors covered under clause (a) or sub-section (6), the interim resolution professional shall make an application to the Adjudicating Authority along with the list of all financial creditors, containing the name of an insolvency professional, other than the interim resolution professional, to act as their authorised representative w....