If the Liquidator did not take the steps in terms of Appellate Tribunal’s order as in Y. Shivram Prasad Vs. S. Dhanapal & Ors., the question for application u/s 53 can’t not arise – Union Bank of India & Ors. Vs. Mr. Shashi Kan Nemani Appointed Liquidator of Vedika Nut Crafts Pvt. Ltd. (in liquidation) & Ors – NCLAT

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