# In the matter of Antony Projects Pvt. Ltd. MA-11 & 574-2019 in CP-610-IB-2017

> NCLT judgment dated 2019-06-21. Citation: TCN-2019-NCLT-02816. The case involves an MA filed under Section 60(5) of the IBC, 2016, by Ms. Aruna Ramachandran,…

- **Court:** NCLT
- **Order date:** 21 Jun 2019
- **Citation:** TCN-2019-NCLT-02816
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/antony-projects-pvt-ltd-ma-11-574-2019-in-cp-610-ib-2017-9beefa05

## Summary

### Background

The case involves an MA filed under Section 60(5) of the IBC, 2016, by Ms. Aruna Ramachandran, the Liquidator, seeking recusal from continuing as Liquidator in CP/610/IB/2017. The Bench considered the application.

## Facts

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.

## Issues and analysis

### Issue 1: Whether the Liquidator's request …

**Ratio:** A liquidator can seek recusal from their position under certain circumstances, subject to

…

**Reasoning:** The Bench considered the Liquidator's application and found it appropriate to relieve her

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**Interpretation:** Section 60(5) of the IBC provides the NCLT with the power to adjudicate on

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**Application:** The Bench applied the principle that a liquidator can be relieved of their

…

## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** ARUNA RAMAC…
- **Respondents:** ANTONY PROJECTS…

## Timeline

- **2015-06-21 — Hearing…**: Hearing held at 10.30…
- **2019-01-01 — MA Filin…**: MA/574/2019 in MA/11/2019…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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