# NOBLE CO-OPERATIVE BANK vs GARVIT INNOVATIVE PROMOTERS LIMITED

> NCLT judgment dated 2026-05-04. Citation: TCN-2026-NCLT-00496. An application (IA No.262/2026) was filed seeking the replacement of the existing liquidator,…

- **Court:** NCLT
- **Order date:** 4 May 2026
- **Citation:** TCN-2026-NCLT-00496
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/noble-co-operative-bank-vs-garvit-innovative-promoters-limited-2akh1

## Summary

### Background

An application (IA No.262/2026) was filed seeking the replacement of the existing liquidator, Mr. Nirmal Kumar Beshnoi, for the Corporate Debtor, Garvit Innovative Promoters Limited. The incumbent liquidator had communicated his inability to continue due to personal/health issues via email communications on March 14, 2026, and March 28, 2026.

## Facts

IA No.262/2026 was filed requesting the replacement of the existing Liquidator, Mr. Nirmal Kumar Bhesoni (also referred to as Beshnoi), for the Corporate Debtor.

The incumbent liquidator, Sh. Nirmal Kumar Beshnoi, informed the Stakeholders' Consultation Committee (SCC) via emails on March 14, 2026, and March 28, 2026, of his inability to continue due to personal/health issues.

The SCC, during a meeting on April 6, 2026, resolved to recommend Sh. Vineet Gupta (IP Reg. No. IBBI/IPA-001/1PP01689/2019-2020/12680) as the new liquidator.

Sh. Vineet Gupta provided his consent in Form AA to act as the liquidator.

IA (Liq. PR) No.42/2026 was filed by the Liquidator to place the 2nd Progress Report on record.

## Issues and analysis

### Issue 1: Whether the existing Liquidator, Mr. Nirmal Kumar Beshnoi, should be replaced from his role for the …

**Ratio:** A liquidator can be replaced if they express inability to continue their duties,

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**Reasoning:** The incumbent Liquidator, Sh. Nirmal Kumar Beshnoi, communicated his inability to

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**Interpretation:** The Tribunal interpreted the communications from the Liquidator and the

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**Application:** Given Sh. Nirmal Kumar Beshnoi's expressed inability and the SCC's resolution,

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** NOBLE CO-OPERATIVE…
- **Respondents:** Garvit Innovative…
- **Other parties:** Liquidation…; Replacement of…; +6 more
- **Advocates:** Babita…; Sh. Amar…; +1 more

## Timeline

- **2026-03-14 — Email Commun…**: Sh. Nirmal Kumar Beshnoi sent an e-mail…
- **2026-03-28 — Email Communication to…**: Sh. Nirmal Kumar Beshnoi addressed an e-mail communication to SCC stating his inability…

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