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MR. PRADEEP KUMAR KABRA VS
NATIONAL COMPANY LAW TRIBUNAL
COURT-V, MUMBAI BENCH
105. IA/2392/2025, C.P. (IB)/163(MB)2023
IN THE MATTER OF
Phoenix Arc Private Limited … Petitioner Vs
Precision Realty Developers Private Limited … Respondent U/s 7 of the Insolvency and Bankruptcy Code, 2016 Order Delivered on 06.06.2025
CORAM:
SH. SUSHIL MAHADEORAO KOCHEY SH. CHARANJEET SINGH GULATI
MEMBER (J) MEMBER (T)
Appearance through VC/Physical/Hybrid Mode:
For the Applicant: Adv. Aniket Malu (PH) For the Respondent:
__________________________________________________________
ORDER
IA/2392/2025: This is the IA filed by the RP of "Precision Realty Developers Private Limited" seeking replacement of "Mr. Vijay Kumar V. Iyer" RP of "Future Retail Limited" with "Mr. Sanjay Gupta" Liquidator of "Future Retail Limited" who is Respondent no. 1 in IA/2641/2024. The other Respondents are Mr. Jacob Mathew, Mr. Kishore Biyani, Mrs. Nishi Jain and Mrs. Priyanka Agrawal. Learned counsel for the RP takes us to the order dated 29.07.2024 in IA/5293/2023 by which order Future Retail Limited has been ordered to be liquidated and at Sub para "A" of Para '16, Mr. Sanjay Gupta holding Registration no. IBBI/IPA- 002/IP-N00982-C01/2017-2018/10354 has been appointed as a Liquidator. Since a new IP Professional has been appointed as Liquidator in the Future Retail Limited which necessitated, the substitution of the RP of Future Retail Limited with the Liquidator. For the reasons stated hereinabove those stated by the Learned counsel and averred in
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the IA, the substitution sought is allowed. The IA is accordingly allowed and disposed of.
The Learned Counsel for the RP herein under takes to carry out the requisite substitution in the IA/2641/2024.
Sd/- Sd/-
CHARANJEET SINGH GULATI SUSHIL MAHADEORAO KOCHEY
Member(Technical) Member(Judicial) /Tausif/
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