Ms. Aruna Ramachandran, serving as the Liquidator in CP/610/IB/2017, filed an MA under Section 60(5) of the IBC, 2016, seeking recusal from her position. The Financial Creditors, including stakeholders and home buyers, agreed to provide ₹40,000 as remuneration to Ms. Ramachandran. The National Company Law Tribunal (NCLT) considered the application and the agreement for remuneration. The NCLT then decided to relieve Ms. Ramachandran and proposed Mr. M. Ramji as the replacement Liquidator, forwarding his name to the IBBI for confirmation. The Registry was instructed to communicate the order to the IBBI.

Ms. Aruna Ramachandran, serving as the Liquidator in CP/610/IB/2017, filed an MA under Section 60(5) of the IBC, 2016, seeking recusal from her position. The Financial Creditors, including stakeholders and home buyers, agreed to provide ₹40,000 as remuneration to Ms. Ramachandran. The National Company Law Tribunal (NCLT) considered the application and the agreement for remuneration. The NCLT then decided to relieve Ms. Ramachandran and proposed Mr. M. Ramji as the replacement Liquidator, forwarding his name to the IBBI for confirmation. The Registry was instructed to communicate the order to the IBBI.