The case involves an Interlocutory Application (IA 187/2025) filed in the matter of C.P. (IB)/4172(MB)2019. The application was filed by the Applicant/Stakeholders' Consultation Committee seeking the replacement of the current Liquidator, Mr. Raj Kumar Dad, due to an inability to reach an agreement on remuneration and concerns regarding the effective management of the liquidation process. The Stakeholders' Consultation Committee held multiple meetings regarding the liquidation process, where the Liquidator's request for increased remuneration was discussed, but no agreement was reached.
The Stakeholders' Consultation Committee sought to replace the current Liquidator, Mr. Raj Kumar Dad, because they could not agree on his remuneration and had concerns about how well the liquidation was being managed. The committee held several meetings to discuss the liquidation process and the Liquidator's request for more pay, but they could not come to an agreement. During the Fourth Stakeholders' Consultation Committee meeting on August 2, 2024, a unanimous resolution was passed to replace Mr. Raj Kumar Dad with Ms. Bhartee Daga, a registered Insolvency Professional, to conduct the Liquidation Process. The court considered the submissions and averments made in the application and found the Interlocutory Application to be in consonance with Regulation 31A (11) of
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A unanimous resolution was passed to replace…
The court allowed the Interlocutory…
The case involves an Interlocutory Application (IA 187/2025) filed in the matter of C.P. (IB)/4172(MB)2019. The application was filed by the Applicant/Stakeholders' Consultation Committee seeking the replacement of the current Liquidator, Mr. Raj Kumar Dad, due to an inability to reach an agreement on remuneration and concerns regarding the effective management of the liquidation process. The Stakeholders' Consultation Committee held multiple meetings regarding the liquidation process, where the Liquidator's request for increased remuneration was discussed, but no agreement was reached.
The Stakeholders' Consultation Committee sought to replace the current Liquidator, Mr. Raj Kumar Dad, because they could not agree on his remuneration and had concerns about how well the liquidation was being managed. The committee held several meetings to discuss the liquidation process and the Liquidator's request for more pay, but they could not come to an agreement. During the Fourth Stakeholders' Consultation Committee meeting on August 2, 2024, a unanimous resolution was passed to replace Mr. Raj Kumar Dad with Ms. Bhartee Daga, a registered Insolvency Professional, to conduct the Liquidation Process. The court considered the submissions and averments made in the application and found the Interlocutory Application to be in consonance with Regulation 31A (11) of
…A unanimous resolution was passed to replace…
The court allowed the Interlocutory…