Liquidator substitution under NCLT Rules: prior appointment modified after the first appointee sought relief from continuing.

An earlier order appointing a liquidator was modified because the appointed liquidator expressed inability to continue due to pre-occupation and requested relief from appointment. Applying Rule 154(2) of the National Company Law Tribunal Rules, the tribunal relieved the first liquidator and substituted another liquidator from the approved panel. The remaining terms of the earlier order were left unchanged.

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Issues: Whether the earlier order appointing the liquidator required modification by relieving the appointed liquidator and substituting another liquidator.

Analysis: The previously appointed liquidator expressed inability to continue due to pre-occupation and requested that he not be appointed. On that basis, the earlier order was modified under Rule 154(2) of the National Company Law Tribunal Rules and a new liquidator from the approved panel was appointed in his place. The remaining contents of the earlier order were kept unchanged.

Conclusion: The earlier appointment was modified, the first liquidator was relieved, and the substituted liquidator was appointed.

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