# In the matter of MANTHAN BROADBAND SERVICES PRIVATE LIMITED

> NCLT judgment dated 2025-06-26. Citation: TCN-2025-NCLT-00870. 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-00870
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/manthan-broadband-services-private-limited-50e961d7

## 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 September 18, 2019, initiating the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor.

Since there was no resolution plan at the end of the CIRP period, the liquidation of the Corporate Debtor was directed on April 6, 2022.

The Liquidator has 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 April 7, 2025, suspending the registration of the applicant (Liquidator) for 2 years, effective from May 6, 2025.

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## Issues and analysis

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

**Ratio:** The Tribunal has the power to dismiss or replace the liquidator under sections 33 and 34

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

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**Interpretation:** The Tribunal's power to appoint a liquidator implies the power to replace one

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**Application:** The Tribunal exercised its power to replace the existing liquidator due to his

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## 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…**: Since 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)

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