DEVENDRA PADAMCHAND JAIN Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) As per the direction of Adjudicating Authority vide Judgement dated 24.08.2017 in CA No.142 of 2017 in CP(IB) No.l2/10/FIDB/2017 the Asst. Director, NCLT, wrote a letter dated 29.08.2017 directing the IBBI to propose a name of another Insolvency Resolution Professional (IRP) to be appointed as Liquidator in the matter of VNR Infrastructures Limited.

(2.) In response to the letter of the NCLT, IBBI vide letter dated 12.09.2017 (Physical copy received on 18.09.2017) has humbly clarified that as per Section 34(4) of IBC 2016 the Board is not act as Liquidator in the instant case. Hence, it is requested the NCLT may appoint an Insolvency Professional to act as a Liquidator from amongst the registered Insolvency Professionals uploaded on our website (wwwibbi.gov.in) . Further requested to kindly place this fact before the Hon'ble NCLT for appropriate directions.

(3.) In view of the clarification received from the IBBI, the Adjudicating Authority hereby appoints Shri TSN Raja, as Liquidator who is registered with Insolvency Professionals Agency of ICA1 having Registration No. (IBB1/IPA-003/IP-N00065/10551) . His Certificate of Registration issued by IBBI is valid from 11th July, 2017.