The case involves an application filed by the Insolvency Resolution Professional (IRP) seeking protection for actions taken in good faith and to quash a frivolous FIR (605/2017) lodged against him. The ex-management of the Corporate Debtor, Hotel Gaudavan Private Limited, has been actively attempting to obstruct the insolvency process by moving various forums. The Financial Creditor, Alchemist Asset Reconstruction Company, initiated proceedings under Section 7 of the IBC, 2016, which were admitted by the NCLT on 31.03.2017, appointing Mr. Arunava Sikdar as the IRP. The IRP faced resistance from the hotel management during the takeover, leading to further applications before the NCLT. The ex-management also filed a writ petition challenging the constitutional validity
…Alchemist Asset Reconstruction Company initiated insolvency proceedings against Hotel Gaudavan Private Limited under Section 7 of the IBC, 2016. The NCLT admitted the petition on 31.03.2017 and appointed Arunava Sikdar as the IRP. The ex-management of Hotel Gaudavan, led by Harendra Singh Rathore and Lokendra Singh Rathore, resisted the IRP's takeover, including refusing cooperation and physically resisting access to the property. The ex-management also filed a writ petition challenging the constitutional validity of the IBC, which was dismissed. The IRP discovered that the ex-management had siphoned off approximately Rs. 123.60 Lacs after the commencement of CIRP. The Corporate Debtor attempted to initiate arbitration proceedings and appointed Pankaj Garg as an
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The Financial Creditor filed an application…
The NCLT admitted the petition and appointed…
The case involves an application filed by the Insolvency Resolution Professional (IRP) seeking protection for actions taken in good faith and to quash a frivolous FIR (605/2017) lodged against him. The ex-management of the Corporate Debtor, Hotel Gaudavan Private Limited, has been actively attempting to obstruct the insolvency process by moving various forums. The Financial Creditor, Alchemist Asset Reconstruction Company, initiated proceedings under Section 7 of the IBC, 2016, which were admitted by the NCLT on 31.03.2017, appointing Mr. Arunava Sikdar as the IRP. The IRP faced resistance from the hotel management during the takeover, leading to further applications before the NCLT. The ex-management also filed a writ petition challenging the constitutional validity
…Alchemist Asset Reconstruction Company initiated insolvency proceedings against Hotel Gaudavan Private Limited under Section 7 of the IBC, 2016. The NCLT admitted the petition on 31.03.2017 and appointed Arunava Sikdar as the IRP. The ex-management of Hotel Gaudavan, led by Harendra Singh Rathore and Lokendra Singh Rathore, resisted the IRP's takeover, including refusing cooperation and physically resisting access to the property. The ex-management also filed a writ petition challenging the constitutional validity of the IBC, which was dismissed. The IRP discovered that the ex-management had siphoned off approximately Rs. 123.60 Lacs after the commencement of CIRP. The Corporate Debtor attempted to initiate arbitration proceedings and appointed Pankaj Garg as an
…The Financial Creditor filed an application…
The NCLT admitted the petition and appointed…