Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad

Order Date: 09/06/2026

Case Overview

The National Company Law Tribunal (NCLT), Ahmedabad, presided over by Member (Judicial) Mr. Shammi Khan and Member (Technical) Mr. Sanjeev Sharma, heard three Interlocutory Applications (IAs) in the matter of CP(IB)/485(AHM)2025, an insolvency proceeding initiated by Team India Manager Limited against Desai Agrifoods Private Limited.

  • IA/878(AHM)2026: This application was filed by the Interim Resolution Professional (IRP) under Sections 19(2) and 17(2)(d) of the Insolvency and Bankruptcy Code (IBC), 2016. The IRP sought directions against Respondents 1 to 3 (personnel/promoters/management associates of the corporate debtor) to extend assistance, cooperation, and provide all records, documents, and information relating to Desai Agrifoods Private Limited. The IRP submitted that despite various communications and reminders following the CIRP initiation order dated 27.04.2026, the respondents had not provided the complete documentation required to conduct the Corporate Insolvency Resolution Process (CIRP).
  • IA/879(AHM)2026: This application was rendered infructuous as the amount of Rs. 3,00,000/-, as directed by the tribunal's previous order, had been paid by the Committee of Creditors (CoC).
  • IA/884(AHM)2026: This application was filed by the Committee of Creditors (CoC) under Section 22(3)(b) of the IBC, 2016. The CoC sought to replace the existing Interim Resolution Professional/Resolution Professional, Value Plus Insolvency Resolution Professionals P. Ltd. (through Mr. Prem Chand Goyal), with Mr. Roshen Chordiya (Registration No. IBBI/IPA-001/IP-P02840/2023-2024/14347). The CoC resolved to make this replacement with the requisite voting share in its first meeting held on 27.05.2026. The proposed RP, Mr. Chordiya, had furnished his written consent (Form-AA), and no disciplinary proceedings were pending against him.

Final Outcome

The tribunal passed the following orders:

  • For IA/878(AHM)2026: Notice was issued to Respondent Nos. 1 to 3 through all permissible modes, returnable on the next date of hearing, 23.06.2026. The IRP was directed to serve the notice. The respondents were directed to file their reply within seven days of receiving the notice. Pending the hearing, the respondents were expected to extend cooperation and provide the required documents to the IRP as mandated under Section 19(1) of the IBC.
  • For IA/879(AHM)2026: The application was dismissed as infructuous.
  • For IA/884(AHM)2026: The application was allowed. The tribunal approved the CoC's resolution and appointed Mr. Roshen Chordiya as the new Resolution Professional for Desai Agrifoods Private Limited, replacing Value Plus Insolvency Resolution Professionals P. Ltd. The outgoing RP was directed to hand over all records, documents, assets, books of accounts, and CIRP-related information to the incoming RP within 3 days. The CoC was directed to clear the ratified fees and expenses of the outgoing RP within 3 days. The registry was directed to communicate the order to the Insolvency and Bankruptcy Board of India (IBBI) and the new Resolution Professional.

Topics: Insolvency Proceedings, Management Cooperation, RP Replacement