The case involves applications (I.A.(I.B.C) No. 1645/KB/2022, I.A.(I.B.C) No. 1646/KB/2022, and I.A.(I.B.C) No. 1647/KB/2022) filed by financial creditors (Sanjeeb Kumar Jha, Rohit Kumar, and Arun Kumar Bag) who were initially included in the Committee of Creditors (CoC) of Shraddha Health & Fitness Private Limited but were later removed by the Interim Resolution Professional (IRP). The CIRP against the Corporate Debtor was initiated on 28.10.2022. The IRP made a public announcement and received claims. The IRP removed the financial creditors based on contentions related to affirmation of claims, examination under the Jharkhand Private Money Lending (Prohibition) Act, 2016, and potential treatment of claims as deposits under the Companies Act, 2013.
J.M. Hotels Private Limited is the Operational Creditor, while Shraddha Health & Fitness Private Limited is the Corporate Debtor. The CIRP was initiated against the Corporate Debtor on 2022-10-28. The Interim Resolution Professional (IRP) constituted a Committee of Creditors (CoC) on 2022-11-20. On 2022-11-26, the IRP removed three Financial Creditors (Sanjeeb Kumar Jha, Rohit Kumar, and Arun Kumar Bag) from the CoC. The IRP cited concerns about the validity of their claims, including the need for affirmation from the company's books, compliance with the Jharkhand Private Money Lending (Prohibition) Act, 2016, and potential classification as deposits under the Companies Act, 2013. The Financial Creditors filed applications (I.A.(I.B.C) No. 1645/KB/2022, I.A.(I.B.C)
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C.P. (IB)…
The CIRP agai…
The case involves applications (I.A.(I.B.C) No. 1645/KB/2022, I.A.(I.B.C) No. 1646/KB/2022, and I.A.(I.B.C) No. 1647/KB/2022) filed by financial creditors (Sanjeeb Kumar Jha, Rohit Kumar, and Arun Kumar Bag) who were initially included in the Committee of Creditors (CoC) of Shraddha Health & Fitness Private Limited but were later removed by the Interim Resolution Professional (IRP). The CIRP against the Corporate Debtor was initiated on 28.10.2022. The IRP made a public announcement and received claims. The IRP removed the financial creditors based on contentions related to affirmation of claims, examination under the Jharkhand Private Money Lending (Prohibition) Act, 2016, and potential treatment of claims as deposits under the Companies Act, 2013.
J.M. Hotels Private Limited is the Operational Creditor, while Shraddha Health & Fitness Private Limited is the Corporate Debtor. The CIRP was initiated against the Corporate Debtor on 2022-10-28. The Interim Resolution Professional (IRP) constituted a Committee of Creditors (CoC) on 2022-11-20. On 2022-11-26, the IRP removed three Financial Creditors (Sanjeeb Kumar Jha, Rohit Kumar, and Arun Kumar Bag) from the CoC. The IRP cited concerns about the validity of their claims, including the need for affirmation from the company's books, compliance with the Jharkhand Private Money Lending (Prohibition) Act, 2016, and potential classification as deposits under the Companies Act, 2013. The Financial Creditors filed applications (I.A.(I.B.C) No. 1645/KB/2022, I.A.(I.B.C)
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The CIRP agai…