Santosh R. Shetty, the suspended Director and Promoter of Sristi Hospitality Private Limited (Corporate Debtor), filed two appeals against orders of the National Company Law Tribunal (NCLT), Mumbai Bench. The first appeal challenges the dismissal of his application (IA No. 2141/2024) for re-valuation of the Corporate Debtor's property and a declaration that the Corporate Insolvency Resolution Process (CIRP) was void. The second appeal challenges the NCLT's approval of a Resolution Plan (IA No. 3612/2023) for the Corporate Debtor. The Corporate Debtor, an MSME engaged in hospitality, had availed a term loan from Saraswat Co-operative Bank Ltd. (Financial Creditor) in 2017, secured by its prime asset, 'Liberty Lodge'. The loan account became a Non-Performing Asset (NPA)

Santosh R. Shetty, the suspended Director and Promoter of Sristi Hospitality Private Limited (Corporate Debtor), filed two appeals against orders of the National Company Law Tribunal (NCLT), Mumbai Bench. The first appeal challenges the dismissal of his application (IA No. 2141/2024) for re-valuation of the Corporate Debtor's property and a declaration that the Corporate Insolvency Resolution Process (CIRP) was void. The second appeal challenges the NCLT's approval of a Resolution Plan (IA No. 3612/2023) for the Corporate Debtor. The Corporate Debtor, an MSME engaged in hospitality, had availed a term loan from Saraswat Co-operative Bank Ltd. (Financial Creditor) in 2017, secured by its prime asset, 'Liberty Lodge'. The loan account became a Non-Performing Asset (NPA)