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Judgment
Ld. Counsel has referred to an order of Hon'ble NCLAT dated 24.10.2025, whereby the proceedings of IA(IBC)/2369/(CHE)2023 have been revived back to its original number with directions to hear afresh on merits, after giving effective opportunity to the Applicant / State Bank of India in the proceedings under Section 54 of IBC, 2016.
Heard and perused.
Considering the order of Hon'ble NCLAT, application IA(IBC)/2369/(CHE)2023 is revived back its original number and the Applicant is made as Respondent in IA(IBC)/326(CHE)/2026.
IA(IBC)/242(CHE)2026 and IA(IBC)/326(CHE)/2026 are disposed of.
Amended memo of parties be filed.
Copy be served on the bank / Applicant for its response, if any.
List the application IA(IBC)/2369/(CHE)2023 for hearing on 04.06.2026.
This application has been filed seeking appointment of new Liquidator replacing the erstwhile Liquidator.
Ld. Counsel submits that new Liquidator has already given his consent and his AFA is valid. She also submits that the Liquidator does not have any due to be realized. The matter was placed before the SCC, where it was resolved to replace the erstwhile Liquidator with the new Liquidator.
Considering the submissions and the resolution and the fact that the erstwhile Liquidator wants to take exit and has no objection, we allow the application and replace the Applicant / erstwhile Liquidator with the new Liquidator Mr. R.Raghavendran.
The erstwhile Liquidator is directed to hand over the charge to the new Liquidator within a week, who is directed to continue with the liquidation process from the stage he takes the charge from the erstwhile Liquidator.
IA(IBC)/200/(CHE)2026 is disposed of.