# In the matter of James Hotel Ltd. CA No. 270,381,382,415 & 787(PB)-2019 in CP (IB) No. 15-Chd-Chd-2017

> NCLT judgment dated 2019-06-06. Citation: TCN-2019-NCLT-03041. The case involves multiple applications (CA No.787(PB)/2019, RT CA No.306/2019, CA…

- **Court:** NCLT
- **Order date:** 6 Jun 2019
- **Citation:** TCN-2019-NCLT-03041
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/james-hotel-ltd-ca-no-270381382415-787pb-2019-in-cp-ib-no-15-chd-chd-2017-61de40cd

## Summary

### Background

The case involves multiple applications (CA No.787(PB)/2019, RT CA No.306/2019, CA Nos.270/2019, 381/2019, 382/2019, and 415/2019) within the context of a Corporate Insolvency Resolution Process (CIRP) initiated against James Hotel Ltd. under CP (IB) No.15/Chd/Chd/2017. Punjab National Bank is the financial creditor. One application seeks a forensic audit of the corporate debtor, while another is filed by an ex-employee regarding a grievance about the liquidator's handling of their claim.

## Facts

Punjab National Bank initiated a Corporate Insolvency Resolution Process (CIRP) against James Hotel Ltd. via CP (IB) No.15/Chd/Chd/2017, which was admitted. Several applications were filed, including CA No.787(PB)/2019 seeking a forensic audit of James Hotel Ltd. The forensic audit report has been finalized. The liquidator is expected to issue notices to defaulters identified in the report. An ex-employee filed CA No.415/2019, raising a grievance against the liquidator regarding the handling of their claim. The court is managing the timelines for filing replies and rejoinders for these applications.

## Issues and analysis

### Issue 1: Whether a forensic audit of the …

**Ratio:** The court has the power to order a forensic audit to investigate potential preferential

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**Reasoning:** The applicant requested a forensic audit, and the court acknowledged the request. The

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**Interpretation:** The court interprets its powers under the Insolvency and Bankruptcy Code to

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**Application:** The court considered the application for a forensic audit and, based on the

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## Parties

- **Judges:** M.K. Sh…; Pradeep R.…
- **Appellants:** Punjab National…
- **Respondents:** James Hote…

## Timeline

- **2017-01-01 — CP (IB) No.15/Chd/Chd/20…**: Corporate Insolvency Resolution Process…
- **2019-05-24 — Order for Forensic…**: In compliance of the order dated 24.05.2019, the Forensic Audit Report has been handed…

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