The case involves an application filed by the erstwhile management of the Corporate Debtor, Hotel Gaudavan Private Limited, under Section 74(2) and Section 65 of the Insolvency & Bankruptcy Code, 2016, seeking an order against the Insolvency Professional. The Financial Creditor, Alchemist Asset Reconstruction Company Ltd., initiated the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Code, which was admitted by the Tribunal on 31.03.2017. The admission order included a moratorium under Section 14. The erstwhile management challenged the Tribunal's order before the High Court of Rajasthan, which upheld the order. The management also initiated arbitration proceedings, which were stayed by the Supreme Court. The management then filed an appeal
…Alchemist Asset Reconstruction Company Ltd. initiated CIRP against Hotel Gaudavan Private Limited. The NCLT admitted the application on 31.03.2017, imposing a moratorium. The erstwhile management of Hotel Gaudavan Private Limited, led by Harendra Singh Rathore, filed an application alleging malafide against the Insolvency Professional, Arunava Sikdar, claiming a misleading advertisement regarding the last date for filing claims. The advertisement, published on 01.04.2017, allegedly contained a typographical error stating the last date as 14.02.2017, while the correct date was 14.04.2017. The Insolvency Professional relied on public notices in the Times of India and Dainik Bhaskar, which correctly stated the last date. The erstwhile management had previously challenged
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Alchemist Asset Reconstruction Company Ltd.…
The Tribunal admitted the Corporate Insolvency…
The case involves an application filed by the erstwhile management of the Corporate Debtor, Hotel Gaudavan Private Limited, under Section 74(2) and Section 65 of the Insolvency & Bankruptcy Code, 2016, seeking an order against the Insolvency Professional. The Financial Creditor, Alchemist Asset Reconstruction Company Ltd., initiated the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Code, which was admitted by the Tribunal on 31.03.2017. The admission order included a moratorium under Section 14. The erstwhile management challenged the Tribunal's order before the High Court of Rajasthan, which upheld the order. The management also initiated arbitration proceedings, which were stayed by the Supreme Court. The management then filed an appeal
…Alchemist Asset Reconstruction Company Ltd. initiated CIRP against Hotel Gaudavan Private Limited. The NCLT admitted the application on 31.03.2017, imposing a moratorium. The erstwhile management of Hotel Gaudavan Private Limited, led by Harendra Singh Rathore, filed an application alleging malafide against the Insolvency Professional, Arunava Sikdar, claiming a misleading advertisement regarding the last date for filing claims. The advertisement, published on 01.04.2017, allegedly contained a typographical error stating the last date as 14.02.2017, while the correct date was 14.04.2017. The Insolvency Professional relied on public notices in the Times of India and Dainik Bhaskar, which correctly stated the last date. The erstwhile management had previously challenged
…Alchemist Asset Reconstruction Company Ltd.…
The Tribunal admitted the Corporate Insolvency…