This appeal arises from an order dated 04.03.2024 passed by the National Company Law Tribunal, Mumbai Bench-I, regarding the Corporate Insolvency Resolution Process (CIRP) of M/s Altius Digital Private Limited. Gospell Digital Technologies Private Limited, an Operational Creditor, initiated the CIRP. Dushyant Dave, the initial Interim Resolution Professional (IRP), was later removed, leading to this appeal. The core issue revolves around the conduct of the IRP, particularly concerning the inclusion of Asha Apartments Pvt. Ltd. as a financial creditor and the reconstitution of the Committee of Creditors (CoC).
Gospell Digital Technology Co. Ltd. initiated CIRP against M/s Altius Digital Private Limited. Dushyant Dave was appointed as the IRP. Gospell Digital filed a claim of Rs. 144 crores. Asha Apartments Pvt. Ltd. submitted an incomplete claim as a financial creditor, later updating it. The IRP admitted Asha Apartments' claim, granting them 100% voting rights in the CoC, despite concerns about the claim's validity and the fact that the claim was submitted after the deadline. The AA removed Dushyant Dave as IRP, citing concerns about his impartiality and the integrity of the CIRP process. The loan agreement between Asha Apartments and the Corporate Debtor was executed after the CIRP petition was filed. Asha Apartments was allegedly involved in providing accommodation
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This appeal arises from an order dated 04.03.2024 passed by the National Company Law Tribunal, Mumbai Bench-I, regarding the Corporate Insolvency Resolution Process (CIRP) of M/s Altius Digital Private Limited. Gospell Digital Technologies Private Limited, an Operational Creditor, initiated the CIRP. Dushyant Dave, the initial Interim Resolution Professional (IRP), was later removed, leading to this appeal. The core issue revolves around the conduct of the IRP, particularly concerning the inclusion of Asha Apartments Pvt. Ltd. as a financial creditor and the reconstitution of the Committee of Creditors (CoC).
Gospell Digital Technology Co. Ltd. initiated CIRP against M/s Altius Digital Private Limited. Dushyant Dave was appointed as the IRP. Gospell Digital filed a claim of Rs. 144 crores. Asha Apartments Pvt. Ltd. submitted an incomplete claim as a financial creditor, later updating it. The IRP admitted Asha Apartments' claim, granting them 100% voting rights in the CoC, despite concerns about the claim's validity and the fact that the claim was submitted after the deadline. The AA removed Dushyant Dave as IRP, citing concerns about his impartiality and the integrity of the CIRP process. The loan agreement between Asha Apartments and the Corporate Debtor was executed after the CIRP petition was filed. Asha Apartments was allegedly involved in providing accommodation
…Gospell Digital Technologies Co. Ltd. files the…
Notice issued…