# In the matter of Vantage Point Asset Management Pte. Ltd. vs. Gaurav Misra, RP of Alchemist Infra Reality Ltd. & Anr.

> NCLAT judgment dated 2025-10-14. Citation: TCN-2025-NCLAT-00540. The appeal was filed by a Successful Resolution Applicant (SRA) challenging an order passed…

- **Court:** NCLAT
- **Order date:** 14 Oct 2025
- **Citation:** TCN-2025-NCLAT-00540
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vantage-point-asset-management-pte-ltd-vs-gaurav-misra-rp-of-alchemist-infra-rea-0499e25f

## Summary

### Background

The appeal was filed by a Successful Resolution Applicant (SRA) challenging an order passed by the National Company Law Tribunal (NCLT), New Delhi Bench, regarding the approval of a Resolution Plan. The SRA specifically challenged the findings and directions in paragraphs 60 and 61 of the impugned order, which directed the SRA to seek remedies under the Prevention of Money Laundering Act (PMLA) for the release of attached properties.

## Facts

Vantage Point Asset Management Pte. Ltd., the Appellant, is a Successful Resolution Applicant (SRA).

The Corporate Debtor (CD) is Alchemist Infra Realty Limited, a public limited company incorporated on 02.04.2008, involved in real estate development.

The Securities and Exchange Board of India (SEBI) filed a complaint against the CD before the ED on 16.03.2016.

The ED recorded an ECIR against the CD on 28.09.2016 for offences punishable under Section 24 of the Securities and Exchange Board of India Act, 1992.

The ED passed a provisional attachment order under Section 5 of the PMLA on 24.01.2019.

M/s Technology Parks Limited filed a Section 7 application against the CD, leading to the initiation of CIRP on 23.03.2022.

…

## Issues and analysis

### Issue 1: Whether the provisional attachment of assets of the Corporate Debtor (CD) prior to CIRP initiation …

**Ratio:** The provisional attachment under Section 5 of the PMLA does not prevent the CD from

…

**Reasoning:** Section 5(4) of the PMLA allows the person interested in the immovable property attached

…

**Interpretation:** The legislative scheme of the PMLA allows for the provisional attachment of

…

**Application:** In this case, the provisional attachment order dated 24.01.2019 and the Delhi

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Vantage Point…; Successful…
- **Respondents:** Alchemist Infra…; Gaurav Misra…
- **Other parties:** Technology…; Depositors/Investo…; +3 more
- **Advocates:** Dhruv M…; Palash S. S…; +13 more

## Timeline

- **2024-07-04 — Order Da…**: Order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi…
- **2024-08-13 — Initial Appeal…**: The Appeal was initially heard and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

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/vantage-point-asset-management-pte-ltd-vs-gaurav-misra-rp-of-alchemist-infra-rea-0499e25f