# In the matter of SPM Auto Pvt. Ltd. (IB)-433(ND)-2017

> NCLT judgment dated 2018-10-12. Citation: TCN-2018-NCLT-00584. The case involves a resolution regarding the appointment of a liquidator for M/s. Regal Metal &…

- **Court:** NCLT
- **Order date:** 12 Oct 2018
- **Citation:** TCN-2018-NCLT-00584
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/spm-auto-pvt-ltd-ib-433nd-2017-47fbeaa2

## Summary

### Background

The case involves a resolution regarding the appointment of a liquidator for M/s. Regal Metal & Ferro Alloys V/s. M/s. SPM Auto Pvt. Ltd. The Committee of Creditors (COC) recommended Mr. Vijender Sharma as the liquidator. The resolution of the financial claimant, holding 73% of the total claim value, has been placed on record. Consent from SIDBI and Mahindra and Mahindra, along with other financial claimants, has also been received.

## Facts

The Committee of Creditors (COC) recommended Mr. Vijender Sharma to continue as a liquidator. A resolution from a financial claimant holding 73% of the total claim value was placed on record. SIDBI and Mahindra and Mahindra, along with other financial claimants, consented to the appointment. Mr. Vijender Sharma was proposed as the liquidator and was present in court. CA 617 and 618 were disposed of. The company involved is M/s. Regal Metal & Ferro Alloys V/s. M/s. SPM Auto Pvt. Ltd.

## Issues and analysis

### Issue 1: Whether the appointment of Mr. Vijender Sharma as liquidator is valid given the COC's …

**Ratio:** The decision of the Committee of Creditors (COC) holds significant weight in the

…

**Reasoning:** The court considered the COC's recommendation and the resolution passed by the financial

…

**Interpretation:** The interpretation of the IBC emphasizes the importance of the COC's role in

…

**Application:** In this case, the COC's recommendation, coupled with the consent of the

…

## Parties

- **Judges:** Deepa Kr…; Ina Mal…; +1 more
- **Respondents:** Regal Metal &…

## Timeline

- **2018-10-12 — Hearing…**: Hearing before the New Delhi Bench of…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/spm-auto-pvt-ltd-ib-433nd-2017-47fbeaa2