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Judgment
O R D E R
IA(I.B.C)/282(KB)2025
The present application has been filed by the applicant under Regulation 31(A) Sub Regulation 11 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 for the following reliefs:-
a. That the Liquidator Mr. Sandip Kumar Kejriwal, Liquidator be replaced with Mr. Vijender Sharma having IBBI registration no. IBBI/IPA-003/IP-N00003/2016-2017 /10022 as the Liquidator herein;
b. The Respondent be directed to provide all the information, documents and records pertaining to the corporate debtor in his possession and knowledge to the proposed Liquidator, Mr. Vijender Sharma;
It is submitted by the Ld. Counsel for the Applicant that the Stakeholders Consultation Committee was constituted wherein the Applicant Bank State Bank of India holds 100% voting share in the SCC, and Liquidation proceedings were proceeded with in accordance with Law. However, at the 1st SCC meeting dated 13/01/2025, the SCC member suggested the name of new Liquidator Mr. Vijender Sharma as the Liquidator in place and stead of the Mr. Sandip Kumar Kejriwal. Copy of the consent and AFA of Mr. Vijender Sharma is annexed hereto and marked C. To this extent a resolution was passed at the 1st SCC meeting and was approved by 100% voting.
Accordingly, we allow the prayer for replacement of Mr. Vijender Sharma in place of Sandip Kumar Kejriwal.
The outgoing Liquidator will hand over the charge of entire documents of the Corporate Debtor to the incumbent Liquidator within a period of three days from the date of this order.
This IA is accordingly allowed and disposed of.
IA(I.B.C)/1732(KB)2024- Newly appointed Liquidator Mr. Vijender Sharma in IA 282/2025 to be present in the matter on the next date of hearing.
List the matter on 16/04/2025 along with other IAs.