# In the matter of KKK COTSPIN PRIVATE LIMITED

> NCLT judgment dated 2025-07-10. Citation: TCN-2025-NCLT-00809. The application is filed under section 60(5) read with section 34 of the IBC code, 2016 for the…

- **Court:** NCLT
- **Order date:** 10 Jul 2025
- **Citation:** TCN-2025-NCLT-00809
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kkk-cotspin-private-limited-1433100e

## Summary

### Background

The application is filed under section 60(5) read with section 34 of the IBC code, 2016 for the appointment of a liquidator in place of the previous liquidator, Vivek Kumar Arora, who expired on 28.10.2024.

## Facts

The application was filed for the appointment of a liquidator.

The previous liquidator, Vivek Kumar Arora, expired on 28.10.2024.

UCO Bank, the applicant-Bank, proposed Mr. Sourav Goyal as the new Liquidator.

Mr. Sourav Goyal's consent and AFA are on record.

The AFA of the proposed Liquidator is valid up to 19.06.2025 to 30.06.2026.

The court appointed Mr. Sourav Goyal as the new Liquidator.

## Issues and analysis

### Issue 1: Whether the application for appointment of a new liquidator in place of the deceased liquidator is …

**Ratio:** Section 60(5) read with

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**Reasoning:** The application was filed under section 60(5) read with section 34 of the IBC code, 2016

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**Interpretation:** The tribunal has the power to

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**Application:** The application is

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## Parties

- **Judges:** Sh. Shishir…; Sh. Harnam Singh…
- **Appellants:** UCO B…
- **Respondents:** KKK Cotspin Pvt.…
- **Other parties:** Sourav…; Vivek Kumar…
- **Advocates:** Vishal M…; Ashish Cho…

## Timeline

- **2024-10-28 — Death of Previous…**: Vivek Kumar Arora, the…
- **2025-07-10 — Order Del…**: Order delivered on 10.07.2025 appointing…

## 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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