# In the matter of HDFC Bank Ltd. vs. Rabindra Kumar Mintri, Liquidator, International Trenching Pvt. Ltd.

> NCLAT judgment dated 2023-10-12. Citation: TCN-2023-NCLAT-00124. HDFC Bank Ltd. filed a Company Appeal (AT) (Insolvency) No. 1358 of 2023 challenging an order…

- **Court:** NCLAT
- **Order date:** 12 Oct 2023
- **Citation:** TCN-2023-NCLAT-00124
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/hdfc-bank-ltd-vs-rabindra-kumar-mintri-liquidator-international-trenching-pvt-lt-91bb46bf

## Summary

### Background

HDFC Bank Ltd. filed a Company Appeal (AT) (Insolvency) No. 1358 of 2023 challenging an order that appointed a liquidator not recommended by the Committee of Creditors (CoC). The appellant argues that the IBBI's General Circular dated 18.07.2023 directs the appointment of a liquidator other than the Resolution Professional or Interim Resolution Professional, and that Section 34(4)(b) only empowers the Board with regard to specific Resolution Professionals.

## Facts

HDFC Bank Ltd. filed an appeal against an order appointing a liquidator not recommended by the CoC. The appellant argues that the appointment violates the IBBI's circular and Section 34(4)(b), which limits the Board's power to specific Resolution Professionals. The appellant sought to implead the IBBI as a respondent. The court issued notice to the IBBI and scheduled a hearing for the appeal.

## Issues and analysis

### Issue 1: Whether the appointment of a liquidator other than one recommended by the CoC is valid under the …

**Ratio:** The power of the Board is limited to specific Resolution Professionals as per Section

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**Reasoning:** The appellant argues that the impugned order is flawed because it appointed a liquidator

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**Interpretation:** Section 34(4)(b) is interpreted to mean that the Board's power is limited to

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**Application:** The appellant argues that the appointment of a liquidator not recommended by

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** HDFC Bank…
- **Respondents:** International…; Rabindra Kumar…

## Timeline

- **2023-10-12 — Appeal F…**: Learned Senior Counsel for the…
- **2023-07-18 — IBBI Circul…**: IBBI issued a General Circular…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 34(4) — Appointment of liquidator and fee to be paid](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-34)

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