# In the matter of MAESTRIA PAINTS INDIA PRIVATE LIMITED

> NCLT judgment dated 2023-05-01. Citation: TCN-2023-NCLT-03535. The application IA (IBC)/857/2023 was filed seeking rectification of the order dated 01.05.2023…

- **Court:** NCLT
- **Order date:** 1 May 2023
- **Citation:** TCN-2023-NCLT-03535
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/maestria-paints-india-private-limited-6632db27

## Summary

### Background

The application IA (IBC)/857/2023 was filed seeking rectification of the order dated 01.05.2023 in IA.637/2023. The initial order appointed Mr. Malireddy Ramana Reddy as liquidator. The applicant contends that the said liquidator was appointed in place of Shri. Medarametla Rama Rao.

## Facts

The application IA (IBC)/857/2023 seeks rectification of the order dated 01.05.2023 in IA.637/2023, which appointed Mr. Malireddy Ramana Reddy as liquidator. The applicant contends that they were proposed as liquidator by the CoC with 100% voting and consent, but the Tribunal appointed Shri. Medarametla Rama Rao instead. The applicant's name is reflected on the IBBI website. A screenshot from the IBBI website showing Mr. Malireddy Ramana Reddy's name as valid until 23.02.2024, was enclosed with the application.

## Issues and analysis

### Issue 1: Whether the order dated 01.05.2023 in IA.637/2023 should be rectified to reflect the applicant as …

**Ratio:** The decision of the CoC holds significant weight in the appointment of a liquidator.

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**Reasoning:** The Tribunal considered the applicant's argument that they were proposed by the CoC with

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**Interpretation:** The legal issue revolves around the process of appointing a liquidator and the

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**Application:** Given that the applicant was proposed by the CoC and their name is on the IBBI

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## Parties

- **Judges:** TELAPROLU…; SH. CHARAN…
- **Respondents:** Maestria Paints…; Mr.Pandu Ra…

## Timeline

- **2023-05-01 — Order Da…**: Order dated 01.05.2023 in IA.637/2023 appointed…
- **2023-05-26 — Hearing…**: Hearing held on 26.05.2023 at 02:30…

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