# In the matter of Shree Ashtvinayak Gems & Stones Pvt. Ltd. IA-1579-2021 in IB-2165-ND-2019

> NCLT judgment dated 2021-11-24. Citation: TCN-2021-NCLT-00424. The matter pertains to the appointment of a liquidator for Laxmi Dia Jewel Pvt Ltd. An order of…

- **Court:** NCLT
- **Order date:** 24 Nov 2021
- **Citation:** TCN-2021-NCLT-00424
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shree-ashtvinayak-gems-stones-pvt-ltd-ia-1579-2021-in-ib-2165-nd-2019-812ed251

## Summary

### Background

The matter pertains to the appointment of a liquidator for Laxmi Dia Jewel Pvt Ltd. An order of liquidation was previously passed on 2021-11-16. The Resolution Professional (RP) has not given his consent to act as liquidator, necessitating the listing of the matter for the appointment of a new liquidator.

## Facts

The key facts are as follows: An order of liquidation was passed on 2021-11-16. The Resolution Professional (RP) did not consent to act as liquidator. The matter was listed for the appointment of a new liquidator. Mr. Suman Kumar Verma was appointed as the new liquidator with registration number IBBI/PA-003/IP-N00342/2021-2022/13657. The registry was directed to send a copy of the order to Mr. Verma. Mr. Verma was directed to submit his consent within one week. The present IA stands disposed of.

## Issues and analysis

### Issue 1: Whether a new liquidator should be appointed …

**Ratio:** When the previously appointed Resolution Professional (RP) does not consent to act as

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**Reasoning:** The court reasoned that the liquidation process cannot proceed without a liquidator.

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**Interpretation:** This interprets the legal requirement for a liquidator in insolvency

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**Application:** The ratio is applied to the fact that the RP did not consent. Therefore, the

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; AVINASH K.…
- **Respondents:** Laxmi Dia Jewel…; Shree Ashtvinayak…

## Timeline

- **2021-11-16 — Order of Liquidation…**: An order of liquidation…
- **2021-11-24 — Order Del…**: Order delivered on 24.11.2021…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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