# Indian Overseas Bank vs. M/s. Pixion Media Pvt Ltd & Ors.

> NCLT judgment dated 2026-08-12. Citation: TCN-2026-NCLT-00825. The Indian Overseas Bank, acting on behalf of the Committee of Creditors (CoC), filed an…

- **Court:** NCLT
- **Order date:** 12 Aug 2026
- **Citation:** TCN-2026-NCLT-00825
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-principal-bench/indian-overseas-bank-vs-ms-pixion-media-pvt-ltd-ors-8fmy8

## Summary

### Background

The Indian Overseas Bank, acting on behalf of the Committee of Creditors (CoC), filed an application (IA-3784/2026) seeking the appointment of a new Liquidator for the Corporate Debtor, M/s. Pixion Media Pvt Ltd & Ors. This application became necessary due to the demise of the erstwhile Liquidator, Mr. Anil Kumar, which left the position vacant.

## Facts

The Indian Overseas Bank, on behalf of the Committee of Creditors, preferred an application (IA-3784/2026).

The application seeks the appointment of Mr. Sandeep Kumar Bhatt as the Liquidator of the Corporate Debtor, M/s. Pixion Media Pvt Ltd & Ors.

The erstwhile Liquidator, Mr. Anil Kumar, passed away on December 15, 2025, leaving his office vacant.

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 with IBBI Registration No. IBBI/IPA-002/IP-N01064-C01/2017-2018/10298.

A copy of the Minutes of the Joint Lenders' Meeting dated July 13, 2026, is 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 M/s. Pixion Media Pvt Ltd …

**Ratio:** The Tribunal has the authority to appoint a new Liquidator to ensure the continuity of

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**Reasoning:** The application was initiated by the Indian Overseas Bank on behalf of the CoC,

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**Interpretation:** Sections 34A and 60(5) of the IBC, along with Rule 11 of the NCLT Rules,

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**Application:** Given the clear vacancy created by the demise of the erstwhile Liquidator and

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## Parties

- **Judges:** ANUPINDER SINGH…; RAVINDRA CHATURVED…
- **Appellants:** Indian Overseas…
- **Respondents:** M/s. Pixion Media…
- **Other parties:** Committee of…; Joint Lenders'…; +2 more
- **Advocates:** Indruj Sin…; Rahul Kr.…; +5 more

## Timeline

- **2025-12-15 — Demise of Erstwhile…**: Mr. Anil Kumar, the…
- **2026-07-13 — Joint Lenders'…**: Joint Lenders' Committee meeting held, where Financial Creditors decided to appoint Mr.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 34A — Appointment of liquidator and fee to be paid](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-34a)

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