2021 (9) TMI 1371

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... dent Mr. Rakesh Kumar, Ms. Preeti Kashyap and Ankit Sharma Advocate for the Applicant ORDER IA-4328/2021- By filing this IA, the Applicant is seeking the following reliefs: a) "Replace the Liquidator/ Respondent no. 1 herein and appoint a Liquidator to conduct the Liquidation Proceedings of Kaliber Associates Pvt. Ltd. b) Direct the Liquidator to conduct the Liquidator Proceedings of Kalibe .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 3rd E-Auction. g) Quash the 4th E-Auction Notice dated 25.08.2021 for the sale of Group B, C, E, F, G, H & I published in the newspaper by the Liquidator / Respondent no. 1 h) Direct the Liquidator to conduct the sales of the assets and actionable claims of the Company with complete transparency and with all fairness." Heard the Ld. Counsel for the Applicant as well as the Liquidator. The Ld. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... cant, we find 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. Accordingly, the prayer of the Applicant to replace the Liquidator is .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X