https://www.taxtmi.com/caselaws?id=788836 A liquidator does not have a vested or personal right to continue in office, and replacement challenges require a statutory violation or jurisdictional error to sustain standing. The material on control, pledged shares, escrow arrangements, advisor appointments and lender monitoring did not establish management or policy control in the statutory sense, so the financial creditor was not a related party of the corporate debtor. Ordinary lender oversight in a distressed account was insufficient to invalidate its participation in stakeholder voting. The challenge was also raised belatedly after insolvency proceedings had progressed. On these principles, the replacement process was upheld and the appeal failed. en-us Tue, 10 Mar 2026 00:00:00 +0530 Mon, 30 Mar 2026 08:48:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788836 A liquidator does not have a vested or personal right to continue in office, and replacement challenges require a statutory violation or jurisdictional error to sustain standing. The material on control, pledged shares, escrow arrangements, advisor appointments and lender monitoring did not establish management or policy control in the statutory sense, so the financial creditor was not a related party of the corporate debtor. Ordinary lender oversight in a distressed account was insufficient to invalidate its participation in stakeholder voting. The challenge was also raised belatedly after insolvency proceedings had progressed. On these principles, the replacement process was upheld and the appeal failed. Case-Laws IBC Tue, 10 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788836