In the matter of Genius Exports Pvt. Ltd.
- CitationIA/4924/2025 in IB-176/ND/2020
Ratio decidendi
The rule this decision rests on
The Adjudicating Authority may, on an application by an appointed Liquidator who is no longer able or willing to act, relieve that Liquidator of the office and appoint another eligible Insolvency Professional from the panel maintained by the Insolvency and Bankruptcy Board of India in his place, where the Liquidator has shown by affidavit that he is unwilling to continue and his continuation is rendered impracticable by reason of age-based ineligibility and physical incapacity restricting his mobility.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE NATIONAL COMPANY LAW TRIBUNAL: NEW DELHI COURT-VI Item No. 103 IB-176/ND/2020 IA/4924/2025 IN THE MATTER OF: Mr. Arun Kumar Singh ...PETITIONER Vs. M/s. Genius Exports Pvt. Ltd. …RESPONDENT Section U/s 9 of IBC, 2016 Order delivered on 08.10.2025 HYBRID HEARING (PHYSICAL & VC) Coram: JUSTICE JYOTSNA SHARMA MS. ANU JAGMOHAN SINGH HON’BLE MEMBER (JUDICIAL) HON’BLE MEMBER (TECHNICAL) PRESENT: For the Petitioner/Operational Creditor :Mr. Yudhishter Sharma, Adv
ORDER IA/4924/2025
1. This is an application filed by the Liquidator praying for following reliefs:- a) Relieve the Applicant from joining the office of Liquidator in the matter of M/s Genius Exports Pvt. Ltd., on account of (i) attaining the age of 70 years within less than 20 days, and (ii) physical handicap restricting mobility; b) Appoint another eligible Insolvency Professional as Liquidator in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016; and c) Pass such other or further orders as this Hon’ble Tribunal may deem fit and proper in the interest of justice.
2. This Adjudicating Authority, vide order dated 17.09.2025 had ordered liquidation of the Corporate Debtor, M/s Genius Exports Pvt. Ltd. and had appointed the present Applicant as the Liquidator in the said matter from the empanelled list of IBBI.
3. The Liquidator appearing through VC submits that he is presently suffering from restricted movement in his right knee, which renders him unable to (Vidya Sagar)
effectively discharge the functions of a Liquidator for the Corporate Debtor. He has further submitted that he shall attain the age of 70 years on 19.10.2025 and would, therefore, cease to be eligible to continue as Liquidator beyond the said date. The Liquidator has also affirmed, by way of an affidavit dated 01.10.2025, that he is not desirous of continuing in the said capacity.
4. In view of the submissions made by the Liquidator and the circumstances stated hereinabove, this Adjudicating Authority hereby directs that a new Insolvency Professional be appointed from the panel of Liquidators maintained by the IBBI to act as the Liquidator of the Corporate Debtor, M/s Genius Exports Pvt. Ltd.
5. Accordingly, Shri Ruchir Batra, Registration no.- IBBI/IPA-003/IP- N00225/2019-2020/12626, E-mail Id-ip.ruchirbatra@gmail.com is hereby appointed as Liquidator and the engagement of the Applicant is terminated.
6. The newly appointed Liquidator shall follow his duties as directed in order dated 17.09.2025.
Accordingly, this application is disposed of.
Sd/- Sd/- (Anu Jagmohan Singh) (Jyotsna Sharma) Member (T) Member (J)
(Vidya Sagar)
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