The appeal was filed by the former Resolution Professional, Mr. Nipan Bansal, challenging the Adjudicating Authority's decision to replace him as the liquidator of M/s Cheema Spintex Limited.
Mr. Nipan Bansal, the appellant, was the former Resolution Professional for M/s Cheema Spintex Limited.
The Corporate Debtor, M/s Cheema Spintex Limited, was put into liquidation by a resolution of the CoC on 12.07.2024.
Mr. Bansal gave his consent to be appointed as the liquidator as per Sec.34(1) of the IBC.
The Adjudicating Authority ordered liquidation on 08.05.2025 but appointed Mr. Arun Gupta as the liquidator, relying on an IBBI circular dated 18.07.2023.
The CoC had recommended Mr. Bansal's appointment as liquidator.
Mr. Bansal filed a writ petition before the Punjab & Haryana High Court challenging the Adjudicating Authority's decision, which was dismissed.
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The CD was put to…
The Adjudicating Authority ordered liquidation…
The appeal was filed by the former Resolution Professional, Mr. Nipan Bansal, challenging the Adjudicating Authority's decision to replace him as the liquidator of M/s Cheema Spintex Limited.
Mr. Nipan Bansal, the appellant, was the former Resolution Professional for M/s Cheema Spintex Limited.
The Corporate Debtor, M/s Cheema Spintex Limited, was put into liquidation by a resolution of the CoC on 12.07.2024.
Mr. Bansal gave his consent to be appointed as the liquidator as per Sec.34(1) of the IBC.
The Adjudicating Authority ordered liquidation on 08.05.2025 but appointed Mr. Arun Gupta as the liquidator, relying on an IBBI circular dated 18.07.2023.
The CoC had recommended Mr. Bansal's appointment as liquidator.
Mr. Bansal filed a writ petition before the Punjab & Haryana High Court challenging the Adjudicating Authority's decision, which was dismissed.
…The CD was put to…
The Adjudicating Authority ordered liquidation…