{"id":295027,"date":"2023-06-20T16:30:50","date_gmt":"2023-06-20T11:00:50","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=295027"},"modified":"2023-06-20T16:33:27","modified_gmt":"2023-06-20T11:03:27","slug":"go-airlines-nclat-approves-appointment-new-resolution-professional-scc-blog","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/06\/20\/go-airlines-nclat-approves-appointment-new-resolution-professional-scc-blog\/","title":{"rendered":"Go Airlines insolvency: NCLAT approves appointment of new Resolution Professional by CoC"},"content":{"rendered":"
\n

National Company Law Appellate Tribunal New Delhi (Special Bench):<\/b> A Division bench comprising of Mahendra Khandelwal, J. and Rahul Bhatnagar (Technical Member) approved the appointment of IRP Mr. Shailendra Ajmera as the Resolution Professional of the Corporate Debtor.<\/p>\n

In the instant matter, an application under S. 22(3)(b)<\/a> of the Insolvency and Bankruptcy Code, 2016<\/a>, IBC is preferred by the Central Bank of India on behalf of the Committee of Creditors (CoC) of the Corporate Debtor seeking approval for replacement of the IRP Mr. Abhilash Lal and appointment of Mr. Shailendra Ajmera as the Resolution Professional of the Corporate Debtor as approved by the CoC in its meeting held on 09.06.2023 with 100 % voting.<\/p>\n

The NCLAT approves the appointment of Mr. Shailendra Ajmera as the Resolution Professional of the Corporate Debtor. The NCLAT directed the new Resolution Professional to comply with the relevant provisions of the IBC<\/a> and perform the duties as assigned to him under IBC, specially enumerated under S. 25(1)<\/a> of the IBC<\/a>, i.e., protection of the assets of the Corporate Debtor.<\/p>\n\n

Advocates who appeared in this case :<\/p>\n

Mr. Ameya Gokhale in IA-3277, 3280\/2023, Mr. Arun Kathpalia, Sr Adv with Mr. Vaijayant Paliwal, Mr. Nikhil Matur, Mr. Rishabh Jaisani, Ms. Salonee Kulkarni, Mr. Harit Lakhani, Ms. Dilsheen Kaur in IA-2944\/2023, Sr Adv Arvind Nayar, Mr. P Goyal, Mr. C Sharma, Ms. Apoorva Kaushik, Mr. Akshay Joshi, Mr. Shubham Pandey, in IA-3254\/2023, Sr. Adv Chinmoy Pradip Sharma, Mr. Ritesh Singh, Mr. Navneet Singh, Ms. Anchal Nanda, Mr. Hetram Bishnoi, Mr. Ajay Kumar, Ms. Gurnoor Kaur, Sr Adv R Banerjee, Mr. Saket Satapathy, Mr. Anubhav Dutta, Mr. Shivam Kumar, Mr. Zashank Mehta, in IA- 3048\/23, Counsel for the Applicant;<\/p>\n

Sr Adv Niranjan Reddy, Mr. Dheeraj Nair, Mr. Varghese Thomas, Mr. Angao Baxi, Ms. Vishrutyi Sahani, Ms. Aditi, Ms. Fatena, Mr. Akhil, Mr. Sahil, Counsel for the CoC;<\/p>\n

Mr. Narish Salve Sr. Adv, Adv Ramji S Sr. Adv, Adv Ramakant Rai, Adv Siddharth, Adv Varun, Adv Somesh Srivastava, Adv Nishi, Adv Kumar Gaurav, Adv Aryan Agarwal, Adv Drishti Kaushik, Counsel for the IRP.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NCLAT directed the new Resolution Professional to protect the assets of the Corporate Debtor as required under S. 25(1) of the IBC<\/i><\/p>\n","protected":false},"author":67514,"featured_media":293392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[30596,58657,6121,30182,22014,12521,34025],"class_list":["post-295027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-corporate-debtor","tag-go-india-airlines","tag-insolvency","tag-national-company-law-appellate-tribunal","tag-nclat","tag-nclt","tag-resolution-professional"],"yoast_head":"\nNCLAT approves appointment of new Resolution Professional in Go Airlines insolvency matter | SCC Blog<\/title>\n<meta name=\"description\" content=\"NCLAT approves appointment of new Resolution 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Singh (Technical) and Shreesha Merla\u00a0 (Technical) held that an ex-employee of the \u2018Financial Creditor\u2019 having rendered services in the past, should not be permitted to act as \u2018Interim Resolution Professional\u2019 at the instance of such \u2018Financial Creditor\u2019, regard being\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":297687,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/","url_meta":{"origin":295027,"position":3},"title":"In project wise insolvency, IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor: NCLAT","author":"Ritu","date":"July 26, 2023","format":false,"excerpt":"The NCLAT held that the appellant has no Locus Standi to make claim for any unpaid Fees\/Costs from the members of the CoCs, as he is neither the RP in the project nor is connected with another project.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"national company law appellate tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":312306,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/01\/27\/no-demonstrated-legal-infirmity-or-non-compliance-with-section-302-of-the-ibc-found-nclat-upholds-resolution-plan-scc-blog\/","url_meta":{"origin":295027,"position":4},"title":"\u2018No demonstrated legal infirmity or non-compliance with Section 30(2) of the IBC found\u2019; 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