The case involves an application filed by State Bank of India, a stakeholder holding 57% voting share in the Committee of Creditors (CoC), seeking rectification of a liquidation order passed on 11.07.2025 under Rule 154 of NCLT Rules.
State Bank of India, holding 57% voting share as a member of the CoC, filed an application seeking rectification of the liquidation order.
The liquidation order was passed on 11.07.2025 under Rule 154 of NCLT Rules.
The CoC had proposed Mr. Vijay Kishore Saxena as the Liquidator.
The order dated 11.07.2025 inadvertently appointed a Liquidator from the panel.
IBBI letter dated 18.07.2023 stipulates that the Liquidator should be different from the RP.
The tribunal rectified the order to appoint Mr. Vijay Kishore Saxena as the Liquidator instead of Mr. Vikas Rai Berry.
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Liquidation order was…
IBBI letter stating that the Liquidator should…
The case involves an application filed by State Bank of India, a stakeholder holding 57% voting share in the Committee of Creditors (CoC), seeking rectification of a liquidation order passed on 11.07.2025 under Rule 154 of NCLT Rules.
State Bank of India, holding 57% voting share as a member of the CoC, filed an application seeking rectification of the liquidation order.
The liquidation order was passed on 11.07.2025 under Rule 154 of NCLT Rules.
The CoC had proposed Mr. Vijay Kishore Saxena as the Liquidator.
The order dated 11.07.2025 inadvertently appointed a Liquidator from the panel.
IBBI letter dated 18.07.2023 stipulates that the Liquidator should be different from the RP.
The tribunal rectified the order to appoint Mr. Vijay Kishore Saxena as the Liquidator instead of Mr. Vikas Rai Berry.
Liquidation order was…
IBBI letter stating that the Liquidator should…