The case involves a corporate insolvency resolution process (CIRP) initiated against James Hotels Limited by Punjab National Bank (PNB) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was triggered due to the corporate debtor's default in repayment of loans to the banks. The Resolution Professional (RP) was appointed to manage the company's operations during the CIRP. Several applications were filed, including one seeking the eviction of respondents No.1 and 2 (Harvatar Singh Arora and Ajmer Singh Bhullar) from the hotel premises, as they were allegedly occupying the premises without authorization and disrupting the resolution process. The respondents challenged the RP's authority and the validity of the CIRP, alleging mismanagement and violation
…Punjab National Bank (PNB) initiated Corporate Insolvency Resolution Process (CIRP) against James Hotels Limited due to loan defaults. The CIRP commenced on 27.04.2017. Navneet Gupta was appointed as the Resolution Professional (RP). Harvatar Singh Arora and Ajmer Singh Bhullar, promoters of James Hotels, were occupying the hotel premises. The RP sought their eviction, alleging unauthorized occupation. Arora and Bhullar claimed a right to occupy based on a resolution dated 10.02.2017. The RP challenged the resolution's validity, claiming it was fabricated. The RP also alleged that the respondents were disrupting the resolution process and influencing hotel staff. The respondents made counter-allegations of mismanagement and moratorium violations against the RP. The
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The case involves a corporate insolvency resolution process (CIRP) initiated against James Hotels Limited by Punjab National Bank (PNB) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was triggered due to the corporate debtor's default in repayment of loans to the banks. The Resolution Professional (RP) was appointed to manage the company's operations during the CIRP. Several applications were filed, including one seeking the eviction of respondents No.1 and 2 (Harvatar Singh Arora and Ajmer Singh Bhullar) from the hotel premises, as they were allegedly occupying the premises without authorization and disrupting the resolution process. The respondents challenged the RP's authority and the validity of the CIRP, alleging mismanagement and violation
…Punjab National Bank (PNB) initiated Corporate Insolvency Resolution Process (CIRP) against James Hotels Limited due to loan defaults. The CIRP commenced on 27.04.2017. Navneet Gupta was appointed as the Resolution Professional (RP). Harvatar Singh Arora and Ajmer Singh Bhullar, promoters of James Hotels, were occupying the hotel premises. The RP sought their eviction, alleging unauthorized occupation. Arora and Bhullar claimed a right to occupy based on a resolution dated 10.02.2017. The RP challenged the resolution's validity, claiming it was fabricated. The RP also alleged that the respondents were disrupting the resolution process and influencing hotel staff. The respondents made counter-allegations of mismanagement and moratorium violations against the RP. The
…Petition filed…
Petition against M/s…