NCLT Ahmedabad Replaces IRP in Kotyark Industries CIRP Following Overwhelming CoC Vote
Court / Authority
NCLT & NCLAT
Update / Judgement Date
20 Jun 2026
Source
WCP News Bulletin
Author
Manas Yadav — WCP Legal Desk
Reading Time
2 min read
View Count
Background
The Ahmedabad Bench (Court–2) of the National Company Law Tribunal has allowed an application seeking replacement of the Interim Resolution Professional (IRP) in the corporate insolvency resolution process (CIRP) of Kotyark Industries Limited (formerly Yamuna Bio Energy Pvt. Ltd.). The application was moved under Section 22(3)(b) of the Insolvency and Bankruptcy Code, 2016, seeking the replacement of the existing IRP, Mr. Mahendra Prasad Jindal, with Mr. Hiten Ratilal Abhani as the Resolution Professional. The request was based on a resolution passed by the Committee of Creditors (CoC) in its first meeting held on January 3, 2026.
It was submitted that the CoC had approved the replacement with an overwhelming majority of 96.28% voting share. The proposed Resolution Professional, Mr. Abhani, holds a valid registration with the Insolvency and Bankruptcy Board of India (IBBI) and is empanelled as per the statutory requirements.
Counsel for the applicant argued that once the CoC has exercised its commercial wisdom in terms of Section 22 of the Code, the Adjudicating Authority is bound to give effect to the decision, subject to the eligibility and registration of the proposed professional.
Tribunal’s Findings and Order
Accepting the submissions, the Tribunal noted that the decision to replace the IRP was duly approved by the CoC with the requisite majority. Finding no legal impediment, the Bench allowed the application and appointed Mr. Hiten Ratilal Abhani (IBBI Reg. No. IBBI/IPA-001/IP-P-02068/2020-2021/13231) as the Resolution Professional for the CIRP of the corporate debtor.
The Registry was directed to forward a copy of the order to the IBBI for information and record. Accordingly, IA/44(AHM)2026 was allowed and disposed of.
Full Judgement / Attachment
Full Judgement
Frequently asked questions about NCLT & NCLAT
- What are the NCLT and NCLAT?
- The National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) were constituted on 1 June 2016 under the Companies Act, 2013. The NCLT sits in benches across India, and the NCLAT hears appeals from it, with its principal bench in New Delhi and a bench in Chennai.
- What cases does the NCLT hear?
- The NCLT is the Adjudicating Authority for corporate insolvency under the IBC. It also hears company law matters, including oppression and mismanagement petitions, schemes of merger and demerger, reduction of capital, and class action suits.
- What is the time limit to appeal an NCLT order to the NCLAT?
- Under the Companies Act, the appeal is due within 45 days, extendable by up to 45 days. Under the IBC, it is due within 30 days, extendable by up to 15 days. These outer limits are strictly applied.
- How can I check NCLT case status or orders?
- Case status, cause lists and orders are available on the NCLT website (nclt.gov.in) and the NCLAT website (nclat.nic.in), searchable by case number, party name or bench.
- How can White Collar Professional help with a NCLT or NCLAT matter?
- Post your requirement on White Collar Professional to receive proposals from verified Company Secretaries, Insolvency Professionals and Advocates, compare them, and pay securely through the platform. This page also tracks the latest NCLT or NCLAT NCLT and NCLAT judgements as they are reported.
