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Judgment
O R D E R
IA(I.B.C)/1110(KB)2025:
a. This application has been preferred under Section 60(2) of the Insolvency and Bankruptcy Code, 2016 read with Regulation 31A of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and Rule 11 of the National Company Law Tribunal Rules, 2016 to seek the following reliefs:
Ld. Counsel submits that the SCC has proposed Mrs. Brinda Bidasaria as the Liquidator in case, instead of Mr. Krishnaswami C.V.R. who has passed away recently.
It is noticed that the Members of the SCC, holding 93.86% of the voting rights, have approved such appointment.
Accordingly, IA(I.B.C)/1110(KB)2025 is allowed taking note of the fact that, Mrs. Brinda Bidasaria is appointed as a Liquidator in the matter to carry forward the liquidation process.
The legal dues of the Erstwhile Liquidator be released in favour of the Legal Heirs, if permissible.
