Punjab National Bank vs Kiran Shah Liquidator Of Org ...

Punjab National Bank ...Appellant

Vs.

Mr. Kiran Shah Liquidator of ORG Informatics Ltd. ...Respondent

Present: For Appellant: - appeared but not marked appearance.

O R D E R

21.01.2020─ In the 'Corporate Insolvency Resolution Process' of

'M/s. ORG Informatics Limited'- ('Corporate Debtor'), the 'Committee of

Creditors' of which the 'Punjab National Bank' is the lead Bank, decided

to move application for liquidation of the 'Corporate Debtor'.

2. The 'Resolution Professional' was asked to move an application for

liquidation under Sections 33 & 34 of the Insolvency and Bankruptcy

Code, 2016. The said application has been accepted by the Adjudicating

Authority (National Company Law Tribunal), Ahmedabad Bench,

Ahmedabad by impugned order dated 20th November, 2019. The

'Resolution Professional' has been asked to continue as Liquidator.

3. The grievance of the Appellant is that he is against the appointment

of the Liquidator. However, we are not inclined to interfere with the

Contd/-............

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impugned order as after the liquidation the 'Committee of Creditors' has

no role to play and they are simply a claimant whose matters are to be

determined by the Liquidator and cannot move an application for removal

of Liquidator in absence of any provisions under the law.

We find no merit in this appeal. It is accordingly dismissed. No

costs.

(Justice S.J. Mukhopadhaya) Chairperson

(Justice Bansi Lal Bhat) Member(Judicial)

(Justice Anant Bijay Singh) Member(Judicial)

Ar/RR

Company Appeal (AT) (Insolvency) No. 102 of 2020