- (1.) The Company Application bearing No. 193 of 2017 in CP (IB) /172/10/HDB/2017 is filed by M/s. Super Agri Seeds Pvt. Ltd against State Bank of India, U/s. 22(3) R/w. Section 27 of the IBC, 2016, by inter-alia seeking to replace the current IRP Shri. Kari Venkateswarlu with Dr. K.V. Srinivas, IRP.
(2.) The Brief facts lead to the following of the present company application are as follows: a) After admitting the case, the Tribunal vide its order dated 18th September 2017, was pleased to appoint on Mr. Venkateswarlu Kari as Interim Resolution Professional (IRP) . b) The Committee of Creditors i.e., State Bank of India, ICICI Bank and Ratnakar Bank Ltd. ("COC) have met on 20.10.2017 at Hyderabad, and passed a resolution to replace Mr. Venkateswarlu Kari as Interim Resolution Professional as provided under section 27 of IBC on 20.10.2017. c) It is further submitted that the CoC have requested one Mr. Kondapalli Venkat Srinivas to act as Resolution profession as provided for under section 22 of the IBC. Accordingly, Mr. Kondapalli Venkat Srinivas agreed to be appointed as Resolution professional by the CoC and gave his written consent to the same.
(3.) Heard Shri. S.V. Vamshi Krishna, learned counsel for the petitioner and Shri. Kari Vankteswarlu, IRP and Shri. B. Praveen Kumar, Shri. P. Sriharsha Reddy, Shri. G. Durga Bose, learned counsels for the respondents and Dr. K.V. Srinivas, IRP.;