The Liquidator in the matter of Morari Commercial Pvt. Ltd. vs. Unik Bazar Ltd. filed an application (IA-3764/ND/2025) seeking discharge from the liquidation process due to being overburdened with existing assignments.
The Liquidator submitted that they are already handling eight assignments and cannot take up any new assignment.
The Liquidator sought to be discharged from the liquidation process.
The Applicant is coordinating/meeting with the Personal Guarantors in the above-mentioned matters, and he is regularly conducting the various meetings of creditors and various compliances.
Regulation 22 of the IBBI (Insolvency Professionals) Regulations, 2016 states that an insolvency professional should refrain from accepting too many assignments if they cannot devote adequate time to each.
The court replaced the Liquidator with Mr. Hemant Sethi.
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Order delivered on the application for…
Report under Section 99 of the I B Code 2016…
The Liquidator in the matter of Morari Commercial Pvt. Ltd. vs. Unik Bazar Ltd. filed an application (IA-3764/ND/2025) seeking discharge from the liquidation process due to being overburdened with existing assignments.
The Liquidator submitted that they are already handling eight assignments and cannot take up any new assignment.
The Liquidator sought to be discharged from the liquidation process.
The Applicant is coordinating/meeting with the Personal Guarantors in the above-mentioned matters, and he is regularly conducting the various meetings of creditors and various compliances.
Regulation 22 of the IBBI (Insolvency Professionals) Regulations, 2016 states that an insolvency professional should refrain from accepting too many assignments if they cannot devote adequate time to each.
The court replaced the Liquidator with Mr. Hemant Sethi.
Order delivered on the application for…
Report under Section 99 of the I B Code 2016…