TMI Blog2021 (9) TMI 1371X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. - (IB) 228(PB)/2018 & IA-4328/2021 - - - Dated:- 24-9-2021 - SHR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... keholders Committee on the issues relating the sale of the assets and actionable claims of the Company. d) Direct the Liquidator to take minimum of 66% consent vote upon the actions being undertaken by the Liquidator and further record reasons if not followed the same by the Liquidator. e) Direct the Liquidator to share and disclose all the information and documents with the members of the S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Applicant No. 1 2 are not members of the Stakeholder Consultation Committee (SCC). Only the Applicant No. 3, Paradise System Private Limited is a member of the SCC of the Corporate Debtor. Whereas the Ld. Counsel for the Liquidator, basing on the record, revealed that the Paradise System Private Limited is having only 25% of the stake in the SCC Ld. Counsel for the Applicant submits th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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