The case involves an application (IA NO.314/2021) filed by Mr. Akshat Tandon, who is aggrieved by the Liquidator's decision not to consider a scheme of arrangement/compromise proposed by them concerning the Corporate Debtor. The applicant alleges that the Liquidator did not follow the procedures outlined in the Liquidation Process Regulations before presenting the scheme to the Stakeholders' Consultation Committee, which deemed it unfeasible. The Liquidator proceeded with an auction, and the applicant seeks a stay on the auction and a direction for the Liquidator to consider the scheme under Section 230 of the Companies Act, 2013. Another application (IA NO.315/2021) was filed by the Liquidator seeking police protection while visiting the Corporate Debtor's premises.

The case involves an application (IA NO.314/2021) filed by Mr. Akshat Tandon, who is aggrieved by the Liquidator's decision not to consider a scheme of arrangement/compromise proposed by them concerning the Corporate Debtor. The applicant alleges that the Liquidator did not follow the procedures outlined in the Liquidation Process Regulations before presenting the scheme to the Stakeholders' Consultation Committee, which deemed it unfeasible. The Liquidator proceeded with an auction, and the applicant seeks a stay on the auction and a direction for the Liquidator to consider the scheme under Section 230 of the Companies Act, 2013. Another application (IA NO.315/2021) was filed by the Liquidator seeking police protection while visiting the Corporate Debtor's premises.