# Indian Overseas Bank vs. M/s. Pearl Vision Pvt. Ltd.

> NCLT judgment dated 2026-08-11. Citation: TCN-2026-NCLT-00826. The Committee of Creditors (CoC) filed an application (IA-3785/2026) under Section 34A read…

- **Court:** NCLT
- **Order date:** 11 Aug 2026
- **Citation:** TCN-2026-NCLT-00826
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-principal-bench/indian-overseas-bank-vs-ms-pearl-vision-pvt-ltd-mp14d

## Summary

### Background

The Committee of Creditors (CoC) filed an application (IA-3785/2026) under Section 34A read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the appointment of a new Liquidator for the Corporate Debtor, M/s. Pearl Vision Pvt. Ltd. This application was necessitated by the demise of the erstwhile Liquidator, Mr. Anil Kumar, which left the office vacant.

## Facts

An application (IA-3785/2026) was preferred by the CoC under Section 34A read with Section 60(5) of the IBC, 2016.

The application sought the appointment of Mr. Sandeep Kumar Bhatt as the Liquidator of the Corporate Debtor.

The appointment was requested in place of the erstwhile Liquidator, Mr. Anil Kumar, whose office became vacant due to his demise.

The Joint Lenders' Committee, comprising secured Financial Creditors, decided to appoint Mr. Sandeep Kumar Bhatt as the Liquidator.

Mr. Sandeep Kumar Bhatt is an Insolvency Professional bearing IBBI Registration No. IBBI/IPA-002/IP-N0I064-C01/2017-2018/10298.

A copy of the Minutes of the Joint Lenders' Meeting dated 13.07.2026 was annexed as "Exhibit C" to the application.

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## Issues and analysis

### Issue 1: Whether Mr. Sandeep Kumar Bhatt should be appointed as the Liquidator of the Corporate Debtor, M/s. …

**Ratio:** The Adjudicating Authority (NCLT) has the power under Section 34A read with Section 60(5)

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**Reasoning:** The CoC, through the Joint Lenders' Committee of secured Financial Creditors, identified

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**Interpretation:** Sections 34A and 60(5) of the IBC are interpreted to provide the NCLT with the

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**Application:** In the present case, the NCLT applied its powers under Section 34A and Section

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## Parties

- **Judges:** ANUPINDER SINGH…; RAVINDRA CHATURVED…
- **Appellants:** Indian Overseas…
- **Respondents:** Pearl Vision…; M/s. Pearl Vision…
- **Other parties:** CoC…; Joint Lenders'…; +2 more
- **Advocates:** Dhrupad V…; Gayatri M…; +1 more

## Timeline

- **2026-07-13 — Joint Lenders'…**: Joint Lenders' Committee decided to appoint Mr. Sandeep Kumar Bhatt as Liquidator,…
- **2026-08-11 — Order Del…**: NCLT delivered the order allowing IA-3785/2026 and appointing Mr. Sandeep Kumar Bhatt as…

## 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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