# In the matter of Bharat Papers Limited

> NCLT judgment dated 2025-07-18. Citation: TCN-2025-NCLT-00786. The case involves an application filed by State Bank of India, a stakeholder holding 57% voting…

- **Court:** NCLT
- **Order date:** 18 Jul 2025
- **Citation:** TCN-2025-NCLT-00786
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bharat-papers-limited-b9ed58ca

## Summary

### Background

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.

## Facts

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.

## Issues and analysis

### Issue 1: Whether the tribunal can rectify its previous …

**Ratio:** The tribunal has the power to rectify its

…

**Reasoning:** The initial order incorrectly appointed a Liquidator from the panel instead of

…

**Interpretation:** The power to rectify ensures that the order aligns with the intentions of the

…

**Application:** The tribunal exercised its power to rectify the order and appoint Mr. Vijay

…

## Parties

- **Judges:** K. K. S…; K. Bi…
- **Appellants:** Jammu & Kashmir…; State Bank of…
- **Respondents:** Bharat Papers…; Bharat Pape…
- **Other parties:** Vijay Kishore…; Vikas Rai…
- **Advocates:** Pulkit…; Ramneek Kau…

## Timeline

- **2025-07-11 — Liquidation…**: Liquidation order was passed…
- **2023-07-18 — IBBI Let…**: IBBI letter stating that the Liquidator should be different from the RP and the CoC's…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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