Praveen Kumar Rai Liquidator of M/s. SRK Kitchen Appliances Private Limited, Vs. Madhya Pradesh Financial Corporation & Ors. - The ill health of the liquidator, who is the key person to complete the process is adversely affecting the liquidation of the Corporate Debtor in all respects. Hence, we accept this prayer of the liquidator and discharge him from his position of liquidator.

NCLT Allahabad (29.11.2021) in Praveen Kumar Rai Liquidator of M/s. SRK Kitchen Appliances Private Limited, Vs. Madhya Pradesh Financial Corporation & Ors.  [IA NO. 139/2021 In C.P. (IB) No. 191/ALD/2018 ] held that;

• The ill  health of the liquidator, who is the key person to complete the process is  adversely affecting the liquidation of the Corporate Debtor in all respects. Hence, we accept this prayer of the liquidator and discharge him from his position of  liquidator.

 

Excerpts of the order;

# 1. Through this application the existing liquidator is seeking permission of this  Authority for his replacement on the ground that he is suffering from blood  pressure and anxiety issues and he has been advised medically to take rest. The liquidation process, in this matter, had been initiated on 03.09.2019. The ill  health of the liquidator, who is the key person to complete the process is  adversely affecting the liquidation of the Corporate Debtor in all respects. Hence, we accept this prayer of the liquidator and discharge him from his position of  liquidator and we further appoint (Mr. Anil Kapoor- IBBIIPA-002/IP  N00930/2019-2020/13000 and email Id. Kapooranil10@gmail.com, Mobile.  No. 8755419335) to act as liquidator, whose name appear in approved list of  IBBI applicable for the Bench. 

 

# 2. The Registry is directed to send email copies of the order forthwith to the parties and their learned counsels for taking necessary steps. 

 

# 3. We further direct the Registry of this Bench to immediately intimate the newly  appointed liquidator so that he can take charge. 

 

# 4. The present liquidator is directed to handover all the documents, records and  possession of the assets of the Corporate Debtor, if any, in his possession for new  appointed liquidator immediately for all assumption of charge by newly  appointed liquidator. 

 

# 5. Certified copy of the order may be issued, if applied for, upon compliance of all requisite formalities. 

 

# 6. With these directions, this application stands allowed and disposed of

 

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