# In the matter of Dilipkumar Lokooram Arora vs. KTR Management Service Pvt. Ltd. and Anr.

> NCLAT judgment dated 2024-11-25. Citation: TCN-2024-NCLAT-00724. The appeal concerns a Corporate Debtor, a running hotel, where the Operational Creditor…

- **Court:** NCLAT
- **Order date:** 25 Nov 2024
- **Citation:** TCN-2024-NCLAT-00724
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/dilipkumar-lokooram-arora-vs-ktr-management-service-pvt-ltd-and-anr-e15506c5

## Summary

### Background

The appeal concerns a Corporate Debtor, a running hotel, where the Operational Creditor provided manpower services. A meeting was held on 06.10.2019 to resolve overdue payments, followed by conciliation in November 2019, noting an amount of Rs.8,22,82,004/-, also claimed in a Demand Notice dated 03.01.2020. A dispute exists between the parties since the service agreement terminated on 26.12.2019.

## Facts

The Corporate Debtor is a running hotel.

The Operational Creditor provided manpower services to the Corporate Debtor.

A meeting was held on 06.10.2019 to resolve overdue payments to the Operational Creditor.

Conciliation was done in November 2019, noting an amount of Rs.8,22,82,004/-.

A Demand Notice was issued on 03.01.2020.

The service agreement between the parties terminated on 26.12.2019.

The Appellant is ready to deposit the conciliated amount.

The Corporate Debtor is taking steps to restructure dues to Financial Creditors.

Proceedings under Section 230/232 are pending before the NCLT, Mumbai.

## Issues and analysis

### Issue 1: Whether the IRP should take further steps in the CIRP given the Appellant's willingness to deposit …

**Ratio:** The court directed that subject to the Appellant depositing Rs.8,22,82,004/- in two

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**Reasoning:** The court considered the submission of the learned counsel for the Appellant and aimed to

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**Interpretation:** The court is attempting to balance the interests of all parties involved,

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**Application:** This decision provides a conditional relief to the Appellant, contingent upon

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Dilipkumar…
- **Respondents:** Sahara Hospitality…; KTR Management…
- **Other parties:** IRP…; Member of…
- **Advocates:** Abhijeet…; Sandeep…; +2 more

## Timeline

- **2019-10-06 — Meeting…**: A meeting was held to resolve the overdue…
- **2019-11-01 — Conciliatio…**: Conciliation was done, where the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 230 — Delegation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-230)

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