# Stakeholders Consultation Committee of Shree Mahalaxmi Corporation Private Limited vs. Mr. Debdas Chakraborty

> NCLT judgment dated 2026-10-14. Citation: TCN-2026-NCLT-01211. The Stakeholders Consultation Committee (SCC) of Shree Mahalaxmi Corporation Private Limited,…

- **Court:** NCLT
- **Order date:** 14 Oct 2026
- **Citation:** TCN-2026-NCLT-01211
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/shree-mahalaxmi-corporation-private-limited-cq29p

## Summary

### Background

The Stakeholders Consultation Committee (SCC) of Shree Mahalaxmi Corporation Private Limited, represented by State Bank of India, filed an application under Section 60(5) of the IBC, 2016, seeking to replace the current liquidator, Mr. Debdas Chakraborty. The SCC unanimously resolved to replace Mr. Chakraborty with Mr. Vijender Sharma, citing the need for a common liquidator for the Corporate Debtor and its group companies due to interconnected transactions and common promoters/directors. The current liquidator had also not accepted reduced fees.

## Facts

An Interlocutory Application (I.A. No. 1542/KB/2025) was filed under Section 60(5) of the IBC, 2016, seeking to replace the liquidator of Shree Mahalaxmi Corporation Private Limited.

The Applicant is the Stakeholders Consultation Committee (SCC) of Shree Mahalaxmi Corporation Private Limited, represented by the State Bank of India.

Mr. Debdas Chakraborty was the appointed liquidator for Shree Mahalaxmi Corporation Private Limited.

On 16.09.2025, the SCC unanimously resolved (100% voting) to replace Mr. Debdas Chakraborty with Mr. Vijender Sharma.

…

## Issues and analysis

### Issue 1: Whether the Interlocutory Application seeking replacement of the liquidator is maintainable in law …

**Ratio:** The Tribunal has jurisdiction to adjudicate the application as it was filed on

…

**Reasoning:** The Respondent argued the application was not maintainable and an abuse of process.

…

**Interpretation:** The legal principle is that the law applicable at the time of filing an

…

**Application:** The application was deemed maintainable as it was filed before the relevant

…

## Parties

- **Judges:** Labh Singh,…; REKHA KANTILAL…
- **Appellants:** Stakeholders…; State Bank of…
- **Respondents:** Shree Mahalaxmi…; Debdas Chak…
- **Other parties:** erstwhile…; VIJENDER…; +1 more
- **Advocates:** Riyanshu A…

## Timeline

- **2025-09-16 — SCC Meeting and…**: The 2nd meeting of the Stakeholders Consultation Committee (SCC) was held, where a…
- **2025-09-25 — Application…**: The Interlocutory Application (I.A. No. 1542/KB/2025) was filed by the Applicant (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)

---

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/shree-mahalaxmi-corporation-private-limited-cq29p