# In the matter of MANTHAN BROADBAND SERVICES PRIVATE LIMITED

> NCLT judgment dated 2025-06-26. Citation: TCN-2025-NCLT-00864. The application was filed under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, read…

- **Court:** NCLT
- **Order date:** 26 Jun 2025
- **Citation:** TCN-2025-NCLT-00864
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/manthan-broadband-services-private-limited-2e5e32fd

## Summary

### Background

The application was filed under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules 2016, seeking the appointment of an Insolvency Professional from the empanelled list as the Liquidator of the Corporate Debtor in place of the Applicant.

## Facts

Alliance Broadband Services Private Limited filed an application under Section 7 of the IBC Code, which was admitted on 18th September 2019, initiating the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor.

As there was no resolution plan at the end of the CIRP period, the liquidation of the Corporate Debtor was directed on 06th April 2022.

The Liquidator, Kuldeep Verma, carried out the liquidation process and sold one major asset of the Company, being 77500 shares of the Corporate Debtor.

The Disciplinary Committee of IBBI passed an order on 7th April 2025, suspending the registration of the applicant (Kuldeep Verma) for 2 years, effective from 6th May 2025.

…

## Issues and analysis

### Issue 1: Whether the Tribunal has the power to replace the liquidator given the circumstances of the …

**Ratio:** Section 16 of the General Clauses Act, 1897, grants the authority that has the power to

…

**Reasoning:** The Adjudicating Authority is vested with the powers under sections 33 and 34 of the IBC,

…

**Interpretation:** The Tribunal interprets Section 16 of the General Clauses Act, 1897, and

…

**Application:** The Tribunal applied these provisions to the present case, noting the IBBI's

…

## Parties

- **Judges:** Labh S…; Rekha Kantilal…
- **Appellants:** Kuldeep…
- **Respondents:** Manthan Broadband…; Alliance Broadband…
- **Other parties:** Ashish…; Sudip M…
- **Advocates:** Rahul A…; Aditya G…; +6 more

## Timeline

- **2019-09-18 — Initiation…**: Application filed by Alliance Broadband Services Private Limited under Section 7 of the…
- **2022-04-06 — Liquidation…**: As there was no resolution plan at the end of the CIRP period, the liquidation of the…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-kolkata/manthan-broadband-services-private-limited-2e5e32fd