# In the matter of Marmagoa Steel Ltd. IA 619-2020 & IA 479,542,1170,1763,2595,2912,2915 & 2916-2021 In C.P. (IB) 30-MB-2017

> NCLT judgment dated 2022-06-01. Citation: TCN-2022-NCLT-04734. IA 619/2020 is an application filed by the erstwhile Resolution Applicant seeking relief from…

- **Court:** NCLT
- **Order date:** 1 Jun 2022
- **Citation:** TCN-2022-NCLT-04734
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/marmagoa-steel-ltd-ia-619-2020-ia-47954211701763259529122915-2916-2021-in-cp-ib-f854812e

## Summary

### Background

IA 542/2021 is an application filed by the Financial Creditors for replacement of the Liquidator.

## Facts

The erstwhile Resolution Applicant filed IA 619/2020 seeking relief from certain liabilities and requesting that certain expenses be treated as CIRP costs.

The Resolution Applicant wants to take back money paid to the Financial Creditor, claiming it should be considered CIRP cost.

The court had previously ordered liquidation of the Corporate Debtor.

Hard copies of IA 479/2021 have not been submitted.

IA 542/2021 is an application filed by the Financial Creditors for replacement of the Liquidator.

Mr. Sudesh Ganesh Kamat is suggested as the Proposed Liquidator.

The present Liquidator Mr. Pravin Navandar has no objection for the replacement of the Liquidator.

## Issues and analysis

### Issue 1: Whether the erstwhile Resolution Applicant …

**Ratio:** Based on the application

…

**Reasoning:** The court will consider the

…

**Interpretation:** The court will interpret the

…

**Application:** The court will apply the law

…

## Parties

- **Judges:** K.K. V…; P.N. Des…
- **Appellants:** erstwhile…; Financial…; +2 more
- **Respondents:** Marmagoa Steel…
- **Other parties:** Pulkitesh Dutta…; EPFO…; +3 more
- **Advocates:** Ashish…; Karan Va…; +7 more

## Timeline

- **2022-06-01 — Hearing…**: Order sheet of the…
- **2021-02-10 — Order Da…**: Court passed order of…

## 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-mumbai/marmagoa-steel-ltd-ia-619-2020-ia-47954211701763259529122915-2916-2021-in-cp-ib-f854812e