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2021 (9) TMI 1371 - Tri - Companies LawSeeking replacement of Liquidator - Applicant submits that the Liquidator can be replaced under Section 60 (5) of IBC read with Rule 11 of the NCLT Rules - HELD THAT:- It is found that the Stake claimed to the extent of 75 % in the SCC is not borne out of the facts as revealed by the Counsel for the Liquidator. Moreover, no exceptional circumstances have been made out in the Application which would warrant the change of Liquidator using the inherent powers under Rule 11 of NCLT Rules, 2016. The prayer of the Applicant to replace the Liquidator is hereby rejected - Application dismissed.
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