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Judgment
ORDER
IA-5092/2023:- Ld. Counsel appearing for the Applicant/liquidator submitted that the IBBI has examined the issue and has prepared a report that the procedure followed by the liquidator is in accordance with the extant procedure. Let the report of IBBI be placed on record, within two weeks.
Ld. Counsel appearing for the applicant submitted that there is no such law which provides for appointment of supervisor by IBBI qua any liquidation process. Having submitted so she pressed IA-5092/2023 for recalling order dated 24.04.2023 passed in IA-973/2023 and IA-5761/2022. In view of the averments made in the application and the submissions put fourth by the Ld. Counsel for the applicant, the order dated 24.04.2023 is modified to the extent that the IBBI would not be required to appoint supervisor qua the liquidation process in the matter, the Application stands disposed of.
IA-973/2023 and IA-5761/2022 List the IAs on 04.03.2024.