# In the matter of Santosh Kumar vs. ASK Property Investment Advisors P. Ltd. & Anr.

> NCLAT judgment dated 2023-12-06. Citation: TCN-2023-NCLAT-00051. The case is a Company Appeal (AT) (Insolvency) No. 1575 of 2023 before the National Company…

- **Court:** NCLAT
- **Order date:** 6 Dec 2023
- **Citation:** TCN-2023-NCLAT-00051
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/santosh-kumar-vs-ask-property-investment-advisors-p-ltd-anr-c8ab92f8

## Summary

### Background

The case is a Company Appeal (AT) (Insolvency) No. 1575 of 2023 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The appeal involves Santosh Kumar as the Appellant and ASK Property Investment Advisors P. Ltd. & Anr. as the Respondents. The order was delivered in Hybrid Mode.

## Facts

Santosh Kumar filed an appeal against ASK Property Investment Advisors P. Ltd. & Anr. The National Company Law Appellate Tribunal heard the counsels for both parties and reserved its order. Pending the delivery of the judgment, the Interim Resolution Professional (IRP) is permitted to collate claims but is restricted from forming the Committee of Creditors. The parties are granted the liberty to submit short written notes within a week.

## Issues and analysis

### Issue 1: Whether the Interim Resolution Professional (IRP) can constitute the Committee of Creditors before …

**Ratio:** The IRP is permitted to collate claims but is restricted from forming the Committee of

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**Reasoning:** The court, after hearing the counsels, deemed it necessary to restrict the formation of

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**Interpretation:** This indicates a cautious approach by the court, ensuring that no irreversible

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**Application:** In this specific case, the IRP is allowed to gather and organize claims, but

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Santosh…
- **Respondents:** ASK Property…

## Timeline

- **2023-12-06 — Hearing and Order…**: The court heard the counsels for the Appellant and Financial Creditor and reserved its…

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/santosh-kumar-vs-ask-property-investment-advisors-p-ltd-anr-c8ab92f8