Authority: National Company Law Tribunal, Court-V, Mumbai Bench
Order Date: 09.06.2026
Case Overview
This matter pertains to an Interlocutory Application (IA(LIQ.)/79/2025) filed within the main insolvency petition (C.P. (IB)/1064(MB)2023). The application was filed by the Resolution Professional (RP) under the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, Vichare Express & Logistics Pvt Ltd. The original petition was filed under Section 7 of the Code by Vichare Loginext Private Limited against Vichare Express & Logistics Pvt Ltd.
During the hearing, the learned counsel for the applicant and the applicant present in person made submissions to the bench. They confirmed that the Authorisation for Assignment (AFA) of the proposed liquidator is valid until 31st December 2026. Regarding the liquidator's fee, it was submitted that it would be paid in accordance with the applicable regulations under the Code or an amount mutually agreed upon between the proposed liquidator and the Stakeholders Consultation Committee (SCC), whichever amount is higher.
Final Outcome
The bench, comprising Judicial Member Ashish Kalia and Technical Member Charanjeet Singh Gulati, has heard the matter and reserved its orders. A final decision on the liquidation application is pending and will be pronounced at a later date.
Topics: Insolvency, Liquidation