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2026 Supreme(Online)(NCLT) 2300

NATIONAL COMPANY LAW TRIBUNAL
Sunil Kumar Aggarwal, Judicial Member, Radhakrishna Sreepada, Technical Member
Asset Reconstruction Company (India) Ltd. – Appellant
Versus
Vasudevan Sathyamoorthy – Respondent
I.A.Nos.927/2024, 110/2026 | C.P. (IB) No.178/BB/2024



Important Points

An application concerning a Resolution Professional's report to initiate PIRP is rendered redundant upon the appointment of a new Resolution Professional via a separate order.

Subject

Insolvency and Bankruptcy - Corporate Insolvency Resolution Process

Headnote

The matter involves interlocutory applications filed within a corporate insolvency proceeding. The court dealt with a request to consider a Resolution Professional's report to initiate a Pre-packaged Insolvency Resolution Process (PIRP) and the appointment of a new Resolution Professional. No specific legal issues were framed; however, the court observed that following the appointment of a new Resolution Professional in a separate order, the prior application for the PIRP report became redundant. List the Case on 28.05.2026 for RP Report

Advocates:
For the Appellants/Petitioners: Ankit Rajgarhia
For the Respondents: Vandana P.L

Table of Content
1. procedural adjustment of pending applications following the appointment of a new resolution professional. (Para 1 , 2 , 3)

ORDER

1. I.A. No.110/2026: IA is allowed vide separate Order today.

2. IA 927/2024: This IA has been filed by RP Shri Ravi Sankar Devarakonda for Considering the RP Report to initiate PIRP. In view of the Order in IA 110/2026, This IA is filed as requiring no action.

3. C.P. (IB) No.178/BB/2024: In view of order passed in IA 110/2026 appointing another RP, the Registry is directed to forward the copy of the order to the new RP appointed at his registered email address

List the Case on 28.05.2026 for RP Report

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