Replacement of liquidator accepted as approved by majority Stakeholders Consultation Committee

Padmakumar K. C. Vs Piramal Capital And Housing Finance Limited (NCLT Kochi) NCLT Kochi held that application under Regulation 31A(11) of the IBBI (Liquidation Process) Regulations, 2016 valid as Stakeholders’ Consultation Committee [SCC] with majority vote has resolved to replace the present liquidator. Facts- The present application has been filed by the Liquidator of M/s. Asten Realtors Private Limited under Regulation 31(A)(11) of the IBBI (Liquidation Process), 2016 to replace the present Liquidator, Sri. K.C. Padmakumar and appoint Sri. Sreenivasan P R as the Liquidator of the Corpora...