# In the matter of VASAVI HOUSING INFRASTRUCTURE LIMITED

> NCLT judgment dated 2025-05-01. Citation: TCN-2025-NCLT-00137. The case involves an application seeking the replacement of a liquidator, Mr. S. Rajendran, who…

- **Court:** NCLT
- **Order date:** 1 May 2025
- **Citation:** TCN-2025-NCLT-00137
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vasavi-housing-infrastructure-limited-c2464e8e

## Summary

### Background

The case involves an application seeking the replacement of a liquidator, Mr. S. Rajendran, who is registered with IBBI under registration number IBBI/IPA-002/IP-N00098/2017-2018/10241. Mr. S. Rajendran was serving as the liquidator of the Corporate Debtor. The proposal for his replacement was recommended by SCC during its 7th meeting.

## Facts

An application was filed seeking the replacement of Mr. S. Rajendran as the liquidator of the Corporate Debtor. Mr. S. Rajendran's registration number is IBBI/IPA-002/IP-N00098/2017-2018/10241. The proposal to replace him was recommended by SCC during its 7th meeting held on 2025-04-08. Ld. Counsel Mr. Gautham Ram Vittal appeared for the Applicant. The application was filed under Section 60(5) of the IBC, 2016, read with Regulation 31A (11) of the IBBI Regulations, 2016. The court approved the appointment of a new liquidator with immediate effect, disposing of the IA.

## Issues and analysis

### Issue 1: Whether the application for the replacement of the …

**Ratio:** The court has the power to approve the replacement of a liquidator based on sufficient

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**Reasoning:** The court considered the recommendation made by SCC during its 7th meeting, which

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**Interpretation:** Section 60(5) of the IBC, 2016, provides the court with the authority to

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**Application:** Given the recommendation from SCC and the court's authority under Section 60(5)

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** Mutharasapuram…

## Timeline

- **2025-05-01 — Hearing…**: Hearing of the National Company Law Tribunal, Chennai Bench, held on 2025-05-01 at 10.30…
- **2025-04-08 — SCC Meet…**: The proposal for replacement of liquidator was recommended by SCC during its 7th SCC…

## 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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