Committee Of Creditors Of M/S. Eskay K ... vs Ajit Kumar Insolvency Professional & ...
- CitationCompany Appeal (AT) (Insolvency) No. 99 of 2026
Ratio decidendi
The rule this decision rests on
Where the Committee of Creditors recommends that the incumbent Resolution Professional continue as liquidator, the Adjudicating Authority may not appoint a liquidator of its own choice in place of that recommendation; the CoC has the right to appoint the liquidator, in view of the IBBI circular dated 18.07.2023 as applied in the earlier decisions of this Tribunal in Manish Jaju and Nipul Bansal. Whether the recommended Resolution Professional is eligible to be appointed as liquidator is a separate question that this order expressly leaves open for the Adjudicating Authority to decide, and it forms no part of the ratio.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Committee of Creditors of Eskay K 'N' IT (India) Limited Through Bank of India ...Appellant Versus Ajit Kumar Insolvency Professional ...Respondent Present: For Appellant :
For Respondent : Ms. Prachi Johri and Mr. Sachin Jain, Advocates for R-2. Mr. Abhishek Anand, Mr. Karan Kohli, Ms. Vanshika Agarwal and Ms. Palak Kalra, Advocates.
ORDER
(Hybrid Mode)
17.04.2026: This appeal is filed by the Committee of Creditors (CoC) of
M/S. Eskay K 'N' IT (India) Limited, challenging the order of the Adjudicating
Authority appointing a Liquidator, overlooking the recommendation of the
CoC to allow the RP continue as the liquidator, based on the IBBI circular
dated 18.07.2023 (Circular No. Liq-12011/214/2023-IBBI/840).
2. This issue is squarely covered by the ratio laid down by this Tribunal
in [Comp. App. (AT) (Ins.) No. 1165 of 2025] Manish Jaju Erstwhile
Resolution Professional of Rajesh Landmark Projects Private Limited
Vs. The Committee of Creditors of Rajesh Landmark Projects Private
Limited Through M/s Asset Care & Reconstruction Enterprise Limited
& Anr. which was followed in [Comp. App. (AT) (Ins.) No. 1020 of 2025] Mr. Nipul Bansal, Former Resolution Professional, M/s Cheema Spintex
Limited Vs. M/s Cheema Spintex Limited & Ors.
3. In these authorities, the effect of the IBBI Circular dated 18.07.2023
(Circular No. Liq-12011/214/2023-IBBI/840) has been considered, and the
right or authority of the CoC to appoint a liquidator of its choice has been
recognised. In view of these facts, the order of the Adjudicating Authority
appointing a person of its own choice as the Liquidator cannot be sustained.
4. The learned counsel for the Liquidator submits that while the present
liquidator may not have a locus standi to contest, as he does not have any
vested right to be a liquidator, he is required to place certain facts on record.
Learned counsel further submits that the RP, whom the CoC has
recommended, is not eligible to be a RP and equally not eligible to be
appointed as a Liquidator.
5. This issue, however, is left open for the Adjudicating Authority to take
a call. In the present case, we only hold that, in view of the judgments in
Manish Jaju Erstwhile Resolution Professional of Rajesh Landmark
Projects Private Limited Vs. The Committee of Creditors of Rajesh
Landmark Projects Private Limited Through M/s Asset Care &
Reconstruction Enterprise Limited & Anr., [Comp. App. (AT) (Ins.) No.
1165 of 2025] and Mr. Nipul Bansal, Former Resolution Professional,
M/s Cheema Spintex Limited Vs. M/s Cheema Spintex Limited & Ors.,
[Comp. App. (AT) (Ins.) No. 1020 of 2025], the CoC has the right to appoint
the Liquidator.
Comp. App. (AT) (Ins.) No. 99 of 2026 2 of 3
6. Accordingly, the appeal is allowed. No costs.
Justice N. Seshasayee Member (Judicial)
Arun Baroka Member (Technical) rashmi
Comp. App. (AT) (Ins.) No. 99 of 2026 3 of 3
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