Case Note & Summary
The appeal was filed against an order dated 17.09.2025 by the National Company Law Tribunal (NCLT) concerning the withdrawal of consent by the Appellant, Rajeev Lochan, from his role as liquidator of M/s. Divyam Developers Pvt. Ltd. The NCLT had disposed of an application under Rule 11 of the NCLT Rules, 2016, and appointed a new liquidator, raising concerns about the authenticity of an email related to the withdrawal of consent. The NCLT observed that the email lacked a header and was sent just before the matter was reserved for adjudication, casting doubt on its authenticity. The Appellant's counsel argued that the email address used for the withdrawal was legitimate and referenced the public announcement made by the Resolution Professional. The NCLAT reviewed the NCLT's findings and determined that the referral to the Insolvency and Bankruptcy Board of India (IBBI) for investigation was unwarranted. Consequently, the NCLAT set aside the NCLT's direction to refer the matter to IBBI and allowed the appeal, disposing of all pending applications.
Headnote
A) Company Law - Liquidator's Withdrawal of Consent - NCLT's Referral to IBBI - National Company Law Tribunal Rules, 2016, Rule 11 - The NCLT found the email regarding withdrawal of consent to be questionable and referred the matter to IBBI for investigation. The NCLAT set aside this referral, determining that the NCLT's observations were uncalled for and lacked sufficient basis. Held that the referral to IBBI was not warranted (Paras 1-6).
Issue of Consideration
Whether the NCLT's referral of the matter to IBBI for investigation was justified.
Final Decision
The NCLAT set aside the NCLT's direction to refer the matter to IBBI, allowing the appeal and disposing of all pending applications.
Law Points
- Liquidator duties
- Withdrawal of consent
- Investigation referral
- Email authenticity
- NCLT Rules
- 2016
