# In the matter of MLP Developers & Promoters Pvt. Ltd. IA No. 282-2021 In CP (IB) No. 238-Chd-Hry-2019

> NCLT judgment dated 2022-01-25. Citation: TCN-2022-NCLT-04370. The document pertains to IA No. 282/2021 in CP (IB) No. 238/Chd/Hry/2019, an admitted matter…

- **Court:** NCLT
- **Order date:** 25 Jan 2022
- **Citation:** TCN-2022-NCLT-04370
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mlp-developers-promoters-pvt-ltd-ia-no-282-2021-in-cp-ib-no-238-chd-hry-2019-254822e3

## Summary

### Background

The document pertains to IA No. 282/2021 in CP (IB) No. 238/Chd/Hry/2019, an admitted matter under the Insolvency and Bankruptcy Code, 2016. The existing liquidator has filed an application seeking permission for replacement due to health reasons, which prevent him from continuing as liquidator. The liquidation process was initiated on 2021-03-10. The NCLT is considering the liquidator's request for replacement.

## Facts

Sarthak Gupta and Dolly Gupta are the Financial Creditors. MLP Developers and Promoters Private Limited is the Corporate Debtor. Mr. Romesh Sawhney is the existing Liquidator who has filed IA No. 282/2021 seeking replacement due to health reasons. The liquidation process was initiated on 2021-03-10. The Financial Creditor is directed to pay Rs. 25,000 towards liquidation costs. Ms. Uma Garg is appointed as the new liquidator. The present liquidator is directed to handover all the documents, records and possession of the assets of the Corporate Debtor to the newly appointed liquidator.

## Issues and analysis

### Issue 1: Whether the existing liquidator should …

**Ratio:** A liquidator's inability to continue due to health reasons can adversely affect the

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**Reasoning:** The court acknowledges that the liquidator's ill health is a valid ground for seeking

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**Interpretation:** This interprets the practical implications of a liquidator's health on the

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**Application:** The ratio is applied to the specific fact that the existing liquidator's health

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** Sarthak…
- **Respondents:** MLP Developers…; Rajesh…

## Timeline

- **2021-03-10 — Initiation of…**: The liquidation process in…
- **2022-01-25 — Order Del…**: Order delivered by the…

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