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Judgment
The applicant has filed additional affidavit but no physical copy is on record. We have perused the application filed on line. The applicant who is a member of SCC in compliance in order dated 6.10.2025 has proposed a new name of liquidator in modification of its earlier proposal to appoint a name of liquidator who is based out of Chennai and for operational convenience it may not be feasible to further conduct the process. However, this Tribunal in the absence of the physical copy examined the online filing in which the applicant has sought the appointment of Mr.Pradeep Kumar Kabra, IBBI/IPA-001/IP-P01104/2018-19/1908 whose names figures in the list of IBBI from Ahmedabad along with written consent. In view of the situation explained due to certain disciplinary proceedings initiated against the earlier liquidator, and there was absence of progress in liquidation process for a long period, the name proposed is approved due to the merits of this case where further progress of liquidation has stopped due to the ex-liquidator. We also direct the liquidator to file a detailed report including the proceedings pending in liquidation, including lapses if any, IAs pending and the minutes of the SCC meetings since the liquidation process was initiated, with a fresh progress report within 1 month. The SCC members are directed to pay the fees to the liquidator as per IBBI guidelines and report the fees paid to the ex-liquidator including further lapses if any.
We direct the Registry to issue a copy of this order to the Liquidator Mr.Pradeep Kumar Kabra, IBBI/IPA-001/IP-P01104/2018-19/1908 within the directions to comply with this order within seven days and file a report as directed.
In view of the above, this application is allowed and disposed off.