# In the matter of Concast Infratech Limited CP(IB)-226-KB-2018

> NCLT judgment dated 2021-11-18. Citation: TCN-2021-NCLT-00465. The case pertains to the matter of SREI Equipment Finance Limited versus Concast Infratech…

- **Court:** NCLT
- **Order date:** 18 Nov 2021
- **Citation:** TCN-2021-NCLT-00465
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/concast-infratech-limited-cpib-226-kb-2018-a048a4ac

## Summary

### Background

The case pertains to the matter of SREI Equipment Finance Limited versus Concast Infratech Limited, which is undergoing liquidation. The previous liquidator, H.M. Choraria, has passed away, necessitating the appointment of a new liquidator to continue the insolvency resolution process.

## Facts

SREI Equipment Finance Limited initiated insolvency proceedings against Concast Infratech Limited. Concast Infratech Limited is undergoing liquidation. The appointed liquidator, H.M. Choraria, passed away on 26/04/2021. The position of liquidator is vacant and needs to be filled to continue the liquidation process. Mr. Amit Choraria, an Insolvency Professional, is appointed as the new liquidator. The appointment is subject to him possessing a valid Authorisation for Assignment (AFA) issued by the Insolvency Professional Agency (IPA). The new liquidator must submit a consent letter and file periodical progress reports.

## Issues and analysis

### Issue 1: Whether a new liquidator should be appointed for Concast Infratech Limited due to the death of the …

**Ratio:** The position of Liquidator cannot be kept vacant, and it is deemed fit and proper to

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**Reasoning:** The court reasoned that the liquidation process requires continuous oversight and

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**Interpretation:** This highlights the importance of continuous management in insolvency

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**Application:** Given the death of H.M. Choraria, the court applied the principle that a

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## Parties

- **Judges:** Rohit K…; Harish Chander…; +1 more
- **Appellants:** SREI Equipment…
- **Respondents:** Concast Infratech…
- **Advocates:** Ankita…

## Timeline

- **2021-04-26 — Death of Liq…**: H.M. Choraria, the…
- **2021-10-11 — Date of H…**: Hearing held on…

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