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Judgment
ORDER
21.11.2023: This Appeal has been filed against the order dated 27.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, by which order Adjudicating Authority has rejected IA No.4912 of 2023 in which the Appellant has prayed the recall of the order dated 06.09.2023. The order dated 06.09.2023 was passed in IA No.4020 of 2023 which Application was filed by the Stakeholders’ Consultation Committee (SCC) on the basis of decision of SCC for replacement of the liquidator by 96% of their resolution. The order dated 06.09.2023 is as follows:-
“IA No.4020/2023-
1.Adv. Inayat Ali Qureshi i/b K K Associates appeared for the State Bank of India/Applicant.
2.The present application is filed for replacement of Liquidator by Stakeholders Consultation Committee under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 r/w rule 11 of the National Company Law Tribunal Rules, 2016 and Section 276 of the Companies Act, 2013.
3.Counsel for the outgoing liquidator appears and seeks intervention. However, this Bench does not find any merit in the prayers for intervention, because Applicant merely seeks the replacement and he is not making any allegation against out-going Liquidator.
4.Ld. Counsel appearing for the Applicant submits that SCC approved the replacement of existing Liquidator by 96% in their meeting held on 17.06.2023.
5.In view of the meeting of SCC, we allow the IA No.4020/2023 by appointing Mr. Premraj Ramratan Laddha bearing registration no. IBBI/IPA-001/IP-P00060/2017-18/10138 as Liquidator of Corporate Debtor in place of existing Liquidator Mr. Nirav Anupam Tarkas.
6.Accordingly, IA No.4020/2023 is allowed and disposed of.”
Learned Counsel for the Appellant challenging the order submits that certain issues which were sought to be raised by the Appellant were not considered in the order dated 06.09.2023 and there are several facts which need to be considered by the Adjudicating Authority. The Adjudicating Authority, however, did not permit the liquidator to address on the merits of the resolution.
Learned Counsel for the Respondent supported the impugned order.
We do not find any error in the order rejecting IA No.4912 of 2023. No grounds for recall of the order dated 06.09.2023 were made out in the facts of the present case, but we are of the view that in the facts of the present case, the order of the Adjudicating Authority imposing cost of Rs.50,000/- be deleted.
The Appeal is dismissed subject to deletion of the cost. We make it clear that we are not expressing any opinion with regard to any other aspect of the matter.