Noida: National Company Law Tribunal (NCLT) has removed insolvency professional Narender Kumar Sharma as the interim resolution professional (IRP) for the stalled Festival City housing project in Sector 143B, after finding that he had failed to disclose disciplinary proceedings and allegedly accepted the assignment without a valid authorisation.The tribunal has appointed Sudhir Kumar Agarwal as the new IRP and directed Sharma to hand over all papers, documents and other material that came into his possession during his tenure.Festival City is being developed by three companies — Anand Infoedge Pvt Ltd, Mist Avenue Pvt Ltd and Mist Direct Sales Pvt Ltd — which are co-developers and corporate debtors in the insolvency proceedings….
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