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Judgment
ORDER
IA(I.B.C.)/915(CH)2025
The present application has been filed under section 60 (5) read with section 34 of the IBC code, 2016 for appointment of liquidator in the place of the previous liquidator i.e. Vivek Kumar Arora, who was expired on 28.10.2024. The applicant-Bank is the lead Bank and has proposed the name of Mr. Sourav Goyal as new Liquidator and his consent is available on record i.e. FORM-B (Authorization for Assignment) in which it is stated by the proposed Liquidator that he is competent to work as Liquidator and has no objection if proceedings initiated by the Board or the Insolvency Professional Agency. AFA of the proposed Liquidator is valid up to 19.06.2025 to 30.06.2026. The copy of the same has been screen shared. Learned counsel for the applicant-Bank stated that he has e-filed the AFA. Let the physical copy of the same be filed during the course of the day.
Keeping in view the facts and circumstances, Mr. Sourav Goyal is appointed as new Liquidator in place of Mr. Vivek Kumar Arora. All the fees and expenses of the previous Liquidator may be paid to the legal heirs of the deceased-Liquidator Mr. Vivek Kumar Arora by the Bank. Mr. Sourav Goyal, Liquidator is directed to expedite the process within the stipulated time period. Let the same be done within 30 days. Thus, IA(I.B.C.)/915(CH)2025, is allowed and disposed of accordingly.
IA(I.B.C.)/825(CH)2024, IA(I.B.C.)/971(CH)2024 & RST.A(IBC)/7(CH)2023
The present applications be pursued by the new Liquidator. Let the matter be listed on 26.08.2025.