{"id":2082,"date":"2025-08-24T20:06:25","date_gmt":"2025-08-24T20:06:25","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=2082"},"modified":"2025-08-24T20:06:26","modified_gmt":"2025-08-24T20:06:26","slug":"ibbi-nclat-delhi-judgement-dated-30-05-2025-nclat-vacates-status-quo-upholds-corporate-debtors-right-to-replace-voluntary-liquidator","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/08\/24\/ibbi-nclat-delhi-judgement-dated-30-05-2025-nclat-vacates-status-quo-upholds-corporate-debtors-right-to-replace-voluntary-liquidator\/","title":{"rendered":"IBBI NCLAT Delhi Judgement Dated 30\/05\/2025 – NCLAT vacates status quo, upholds corporate debtor\u2019s right to replace Voluntary Liquidator\u00a0"},"content":{"rendered":"\n

Case of Vinod Singh vs Chandra Prakash Jain,\u00a0\u00a0NCLAT Delhi Judgement Dated 30th<\/sup>\u00a0May 2025.<\/em>\u00a0The appellate tribunal decisively settled the scope of judicial intervention under Section 59 (Voluntary liquidation of corporate persons) of the Insolvency and Bankruptcy Code. It held that once a corporate debtor has lawfully replaced a voluntary liquidator through a board resolution and shareholder approval, the Adjudicating Authority (NCLT) cannot impose a status quo order to retain the ousted liquidator.\u00a0It held that the NCLT intervention was without jurisdiction and violative of the regulatory framework which confers full control of liquidator appointments and removals upon the corporate debtor itself.<\/p>\n\n\n\n

(NCLAT Delhi Judgement Dated 30\/05\/2025)<\/em><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Case of Vinod Singh vs Chandra Prakash Jain,\u00a0\u00a0NCLAT Delhi Judgement Dated 30th\u00a0May 2025.\u00a0The appellate tribunal decisively settled the scope of […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[66,69],"tags":[],"class_list":["post-2082","post","type-post","status-publish","format-standard","hentry","category-ibbi","category-judiciary-ibbi"],"yoast_head":"\nIBBI NCLAT Delhi Judgement Dated 30\/05\/2025 - 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