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Judgment
ORDER
Adv. Prathamesh Nirkhe for the Applicant is present.
Ld. Counsel for the Applicant submits that pursuant to the directions vide order dated 9/6/2025 passed by this Tribunal, the applicant called for Stakeholders Consultation Committee (SSC) meeting on 16/06/2025 wherein Cosmos Co- Op Bank Ltd. who is one of the SSC Member proposed Mr. Umesh Chandra Sahoo (Registration No. IBBI/IPA002/IP-N00621/2018-19/11855 as the successor to the Applicant herein. After due consideration the SSC unanimously agreed to the appointment of Mr. Umesh Chandra Sahoo Insolvency Professional in his place. The consent of Mr. Umesh Chandra Sahoo to act as Liquidator in his place is also available on record.
We have considered the submission of the Liquidator and the decision of the stakeholder consultation committee agreeing to his discharge as Liquidator and for appointment of Mr. Umesh Chandra Sahoo as Liquidator to carry out liquidation process further. Accordingly, we consider it appropriate to appoint Mr. Umesh Chandra Sahoo having Registration No. IBBI/IPA002/IP-N00621/2018-19/11855 as Liquidator of M/s. Dilip Chhabria Design Private Limited to carry out the liquidation process further. The Liquidator for conduct of the Liquidation proceedings would be entitled to the fees as provided in Regulation 4(2)(b) of the IBBI (Liquidation Process Regulations), 2016. The Liquidator shall exercise the powers and perform duties as envisaged under Sections 35 to 50 and 52 to 54 of the Code read with the Liquidation Process Regulations.
The Applicant liquidator shall hand over the control and possession of the Corporate Debtor including the records/information relating the Corporate Debtor and the process carried out so far.
Registry shall furnish a copy of this Order to the Insolvency and Bankruptcy Board of India, New Delhi; Regional Director (Western Region), Ministry of Corporate Affairs; Registrar of Companies & Official Liquidator, Maharashtra; the Registered Office of the Corporate Debtor; and the Liquidator, Mr. Umesh Chandra Sahoo, having E-mail ip. umeshkr62@yahoo.com
In view of above, the IA (I.B.C)/2401(MB)2025 is allowed and disposed of.