Indian Bank, the appellant, filed Section 7 IBC applications against Nimitaya Hotel & Resorts Ltd., the corporate debtor, which was admitted into CIRP. A resolution plan was approved by the CoC, but its approval by the Adjudicating Authority was delayed for over two years. The appellant subsequently filed applications to dismiss the existing resolution plan, seek permission for a fresh 'Form-G', and replace the Resolution Professional (RP). The Adjudicating Authority questioned the appellant's reasons for RP replacement, made adverse remarks against bank officials, and issued notice to the RP, leading to these appeals.
Indian Bank filed Section 7 of the IBC application in 2019 against Nimitaya Hotel & Resorts Ltd.
Nimitaya Hotel & Resorts Ltd. was admitted into Corporate Insolvency Resolution Process (CIRP) on 24.12.2021.
The resolution plan was approved by the Committee of Creditors (CoC) on 08.01.2023.
I.A. No. 987/2023 was filed for approval of the plan before the Adjudicating Authority on 19.01.2023 and remained pending for over 2 years.
On 20.11.2025, the appellant filed I.A. No. 5724/2025 seeking dismissal of the resolution plan and I.A. No. 5725/2025 to seek permission to file fresh 'Form-G'.
On 24.11.2025, the Adjudicating Authority ordered that I.A. No. 5724/2025 and I.A. No. 5725/2025 would be heard first, followed by I.A. No. 987/2023.
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An application was filed by the appellant…
The corporate debtor (Nimitaya Hotel &…
Indian Bank, the appellant, filed Section 7 IBC applications against Nimitaya Hotel & Resorts Ltd., the corporate debtor, which was admitted into CIRP. A resolution plan was approved by the CoC, but its approval by the Adjudicating Authority was delayed for over two years. The appellant subsequently filed applications to dismiss the existing resolution plan, seek permission for a fresh 'Form-G', and replace the Resolution Professional (RP). The Adjudicating Authority questioned the appellant's reasons for RP replacement, made adverse remarks against bank officials, and issued notice to the RP, leading to these appeals.
Indian Bank filed Section 7 of the IBC application in 2019 against Nimitaya Hotel & Resorts Ltd.
Nimitaya Hotel & Resorts Ltd. was admitted into Corporate Insolvency Resolution Process (CIRP) on 24.12.2021.
The resolution plan was approved by the Committee of Creditors (CoC) on 08.01.2023.
I.A. No. 987/2023 was filed for approval of the plan before the Adjudicating Authority on 19.01.2023 and remained pending for over 2 years.
On 20.11.2025, the appellant filed I.A. No. 5724/2025 seeking dismissal of the resolution plan and I.A. No. 5725/2025 to seek permission to file fresh 'Form-G'.
On 24.11.2025, the Adjudicating Authority ordered that I.A. No. 5724/2025 and I.A. No. 5725/2025 would be heard first, followed by I.A. No. 987/2023.
…An application was filed by the appellant…
The corporate debtor (Nimitaya Hotel &…