# Tru Prime Pvt. Ltd. vs. Navneet Gupta, Resolution Professional of Majestic Hotels Ltd & Ors.

> NCLAT judgment dated 2026-05-29. Citation: TCN-2026-NCLAT-00211. The Corporate Debtor, Majestic Hotels Ltd. (operating as Hotel Majestic Park Plaza), was…

- **Court:** NCLAT
- **Order date:** 29 May 2026
- **Citation:** TCN-2026-NCLAT-00211
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/tru-prime-pvt-ltd-vs-navneet-gupta-resolution-professional-of-majestic-hotels-lt-38qtw

## Summary

### Background

The Corporate Debtor, Majestic Hotels Ltd. (operating as Hotel Majestic Park Plaza), was undergoing Corporate Insolvency Resolution Process (CIRP) after a Section 7 application was admitted on 03.07.2024. Navneet Gupta was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as Resolution Professional (RP). The RP sought to take possession of the hotel's assets but found certain premises (salon on 2nd floor, 12-13 shops on 3rd floor, and five rooms on 8th floor) occupied by the Appellant, Tru Prime Pvt. Ltd., and others, including the Suspended Director and his associates. The Appellant claimed occupation based on Profit Sharing Agreements dated 17.06.2019 and 13.03.2020, and also pleaded that the 8th-floor rooms were occupied by its key

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## Facts

The Corporate Debtor ("CD") is running a five-star hotel named Hotel Majestic Park Plaza, situated at Ludhiana.

The CD had obtained financial facilities from Tourism Finance Corporation of India.

Tourism Finance Corporation of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the CD.

The Adjudicating Authority admitted the Section 7 application on 03.07.2024.

Navneet Gupta (Respondent No.1) was appointed as Interim Resolution Professional ("IRP"), who was subsequently confirmed as RP.

Financial facilities were assigned to UV Asset Reconstruction Company Ltd., who became a Member of the Committee of Creditors ("CoC").

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority had the jurisdiction to direct the eviction of the Appellant …

**Ratio:** The Adjudicating Authority, under Sections 19, 25, and 60(5) of the Insolvency and

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**Reasoning:** Upon the commencement of CIRP, the Resolution Professional is duty-bound to take custody

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**Interpretation:** Sections 19, 25, and 60(5) of the IBC are interpreted broadly to empower the

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**Application:** The Adjudicating Authority correctly exercised its jurisdiction by allowing the

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Tru Prime Pvt.…
- **Respondents:** Majestic Hotels…; Navneet Gupta,…
- **Other parties:** UV Asset Reconstru…; Amandeep Kh…; +5 more
- **Advocates:** Pulkit…; Ramneek K…; +8 more

## Timeline

- **2019-06-17 — Profit Sharing…**: Profit Sharing Agreement for salon at 2nd…
- **2020-03-13 — Profit Sharing…**: Profit Sharing Agreement for 13 shops at 3rd…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19 — Personnel to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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