# In the matter of SRK Kitchen Appliances Private Limited IA No. 139-2021 in C.P. (IB) No. 191-ALD-2018

> NCLT judgment dated 2021-11-29. Citation: TCN-2021-NCLT-00369. The case involves an application seeking permission for the replacement of the existing…

- **Court:** NCLT
- **Order date:** 29 Nov 2021
- **Citation:** TCN-2021-NCLT-00369
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/srk-kitchen-appliances-private-limited-ia-no-139-2021-in-cp-ib-no-191-ald-2018-4bc680f9

## Summary

### Background

The case involves an application seeking permission for the replacement of the existing liquidator due to health issues (blood pressure and anxiety). The liquidation process had been initiated on 2019-09-03. The liquidator's ill health was adversely affecting the liquidation of the Corporate Debtor.

## Facts

The existing liquidator, Shri Praveen Kumar Rai, sought permission for replacement due to health issues, specifically blood pressure and anxiety. The liquidation process of M/s. SRK Kitchen Appliances Private Limited had commenced on 2019-09-03. The liquidator's health was impacting the liquidation process. The court accepted the liquidator's request and appointed Mr. Anil Kapoor as the new liquidator. The outgoing liquidator was directed to handover all assets and documents to the new liquidator.

## Issues and analysis

### Issue 1: Whether the existing liquidator should be replaced due to health issues affecting the liquidation …

**Ratio:** A liquidator can be replaced if their health condition adversely affects their ability to

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**Reasoning:** The court reasoned that the liquidator's ill health was negatively impacting the

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**Interpretation:** This interprets the power of the court to ensure the smooth and efficient

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** Praveen Kum…
- **Respondents:** SRK Kitchen…; Madhya Pradesh…

## Timeline

- **2018-01-01 — C.P. (IB) No.…**: Filing of C.P. (IB) No.…
- **2019-09-03 — Liquidation In…**: Liquidation process initiated for M/s.…

## 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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