# In the matter of LOYAL MOTORS PRIVATE LIMITED

> NCLT judgment dated 2025-09-17. Citation: TCN-2025-NCLT-01438. The liquidator filed an application seeking the replacement of the current liquidator, Mr.…

- **Court:** NCLT
- **Order date:** 17 Sept 2025
- **Citation:** TCN-2025-NCLT-01438
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/loyal-motors-private-limited-dc9fe813

## Summary

### Background

The liquidator filed an application seeking the replacement of the current liquidator, Mr. Prashant Jain, of Loyal Motors Private Limited.

## Facts

An application was filed by the liquidator seeking the replacement of the current liquidator.

The SCC resolved to appoint SSARVI Resolution Services LLP as the new liquidator in its meeting held on 18.08.2025.

The minutes of the SCC meeting and the written consent of the proposed liquidator were annexed to the application.

The Insolvency Professional Entity has AFA which is valid up to 31.12.2025.

The current liquidator is Mr. Prashant Jain.

## Issues and analysis

### Issue 1: Whether the current liquidator of the …

**Ratio:** The SCC has resolved to

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**Reasoning:** The SCC's decision is based on the

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**Interpretation:** The court interprets the SCC's resolution as a valid basis for replacing the

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**Application:** The court applies the SCC's resolution and allows the replacement of the

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## Parties

- **Judges:** LAKSHMI G…; Hariharan…
- **Appellants:** Central Bank of…
- **Respondents:** Loyal Motors…
- **Other parties:** Prashant…; SSARVI Resolution…
- **Advocates:** Manoj M…

## Timeline

- **17.09.2025 — Hearing…**: Order sheet of the…
- **18.08.2025 — SCC Meet…**: The SCC resolved to appoint SSARVI…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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