The CFO and CS of the Corporate Debtor filed applications (CAs 230/2018 and 231/2018) to be relieved from their services because they had not received remuneration since November 2017. The RP opposed this, arguing that the Corporate Debtor is a listed company required to submit periodic reports to the Bombay Stock Exchange, and the RP needs the CFO and CS's assistance. The Income Tax Department has a significant claim, potentially comprising 99.80% of the COC's voting power, which could reduce the Operational Creditor to a minuscule number. The RP stated that SEBI and SFIO were notified. The court also considered directions from SEBI dated December 31, 2014, and whether they had been acted upon.

The CFO and CS of the Corporate Debtor filed applications (CAs 230/2018 and 231/2018) to be relieved from their services because they had not received remuneration since November 2017. The RP opposed this, arguing that the Corporate Debtor is a listed company required to submit periodic reports to the Bombay Stock Exchange, and the RP needs the CFO and CS's assistance. The Income Tax Department has a significant claim, potentially comprising 99.80% of the COC's voting power, which could reduce the Operational Creditor to a minuscule number. The RP stated that SEBI and SFIO were notified. The court also considered directions from SEBI dated December 31, 2014, and whether they had been acted upon.