This case involves a contempt application filed by Ashok Kriplani, the Ex-Resolution Professional of Dreamz Infra India Ltd., against the members of the Adjudicating Authority for allegedly violating an order dated 13.01.2021 passed by the NCLAT in Company Appeal (AT) (Ins.) No. 34 of 2020. The applicant contends that the Adjudicating Authority's admission of a Section 7 application for the Dreamz Samhita project on 24.08.2023, despite the earlier order protecting his fees, constitutes contempt. The applicant had previously been involved in the CIRP of Dreamz Infra India Ltd. and sought to recover unpaid CIRP costs.
The Corporate Insolvency Resolution Process (CIRP) of Dreamz Infra India Ltd. commenced on 20.08.2019. Ashok Kriplani was appointed as Interim Resolution Professional (IRP). On 09.11.2019, the Committee of Creditors (CoC) replaced Kriplani with K.P. Raju as RP. The Adjudicating Authority did not approve this resolution on 17.12.2019, offering Kriplani to work as RP at Rs.6.75 lakhs per month. The NCLAT, on 13.01.2021, set aside the Adjudicating Authority's order, directing that fees paid/payable be protected. Kriplani handed over charge to K.P. Raju. The Adjudicating Authority confined CP(IB)84/2019 to the Dreamz Sumadhur Project on 04.09.2020. Dreamz Sneh Project Allottees Welfare Association filed a Section 7 application, which was admitted on 15.02.2023. Kriplani's
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Corporate Insolvency…
Ashok Kriplani was…
This case involves a contempt application filed by Ashok Kriplani, the Ex-Resolution Professional of Dreamz Infra India Ltd., against the members of the Adjudicating Authority for allegedly violating an order dated 13.01.2021 passed by the NCLAT in Company Appeal (AT) (Ins.) No. 34 of 2020. The applicant contends that the Adjudicating Authority's admission of a Section 7 application for the Dreamz Samhita project on 24.08.2023, despite the earlier order protecting his fees, constitutes contempt. The applicant had previously been involved in the CIRP of Dreamz Infra India Ltd. and sought to recover unpaid CIRP costs.
The Corporate Insolvency Resolution Process (CIRP) of Dreamz Infra India Ltd. commenced on 20.08.2019. Ashok Kriplani was appointed as Interim Resolution Professional (IRP). On 09.11.2019, the Committee of Creditors (CoC) replaced Kriplani with K.P. Raju as RP. The Adjudicating Authority did not approve this resolution on 17.12.2019, offering Kriplani to work as RP at Rs.6.75 lakhs per month. The NCLAT, on 13.01.2021, set aside the Adjudicating Authority's order, directing that fees paid/payable be protected. Kriplani handed over charge to K.P. Raju. The Adjudicating Authority confined CP(IB)84/2019 to the Dreamz Sumadhur Project on 04.09.2020. Dreamz Sneh Project Allottees Welfare Association filed a Section 7 application, which was admitted on 15.02.2023. Kriplani's
…Corporate Insolvency…
Ashok Kriplani was…