The judgment encompasses the entire Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation of Aastha Buildhome Developers Pvt. Ltd. The CIRP was initiated on 09.12.2022 based on a Section 7 petition filed by Mrs. Saroj Gupta, a financial creditor. An early challenge arose when the Resolution Professional (RP) filed an application (IA No. 3/JPR/2024) under Section 65 of the IBC, alleging that Mrs. Saroj Gupta initiated the CIRP fraudulently or with malicious intent. The Tribunal dismissed this application on 17.08.2026, finding no explicit documentary proof of fraudulent intent, despite some suspicious conduct regarding her delayed claim filing and alleged undisclosed shareholder status. Subsequently, after multiple attempts to solicit resolution
…In February 2014, Aastha Buildhome Developers Pvt. Ltd. (Corporate Debtor) approached Mrs. Saroj Gupta (Respondent/Financial Creditor) seeking financial assistance of Rs. 15,75,000/- at 14% per annum interest.
Mrs. Saroj Gupta disbursed the financial assistance by issuing three cheques.
Flat no. 809 in Aastha Coral Residency was initially sold to Mr. Nand Kishore Pujari as per agreement dated 17.03.2016.
Upon the Corporate Debtor's failure to repay, Mrs. Saroj Gupta sent a Legal Notice dated 12.05.2018 demanding repayment of the dues.
Mrs. Saroj Gupta, as a Financial Creditor, filed the main Petition, CP No. (IB)-297/7/JPR/2019, under Section 7 of the IBC against Aastha Buildhome Developers Pvt. Ltd.
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Aastha Buildhome Developers Pvt. Ltd.…
Flat no. 809 in Aastha Coral Residency was…
The judgment encompasses the entire Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation of Aastha Buildhome Developers Pvt. Ltd. The CIRP was initiated on 09.12.2022 based on a Section 7 petition filed by Mrs. Saroj Gupta, a financial creditor. An early challenge arose when the Resolution Professional (RP) filed an application (IA No. 3/JPR/2024) under Section 65 of the IBC, alleging that Mrs. Saroj Gupta initiated the CIRP fraudulently or with malicious intent. The Tribunal dismissed this application on 17.08.2026, finding no explicit documentary proof of fraudulent intent, despite some suspicious conduct regarding her delayed claim filing and alleged undisclosed shareholder status. Subsequently, after multiple attempts to solicit resolution
…In February 2014, Aastha Buildhome Developers Pvt. Ltd. (Corporate Debtor) approached Mrs. Saroj Gupta (Respondent/Financial Creditor) seeking financial assistance of Rs. 15,75,000/- at 14% per annum interest.
Mrs. Saroj Gupta disbursed the financial assistance by issuing three cheques.
Flat no. 809 in Aastha Coral Residency was initially sold to Mr. Nand Kishore Pujari as per agreement dated 17.03.2016.
Upon the Corporate Debtor's failure to repay, Mrs. Saroj Gupta sent a Legal Notice dated 12.05.2018 demanding repayment of the dues.
Mrs. Saroj Gupta, as a Financial Creditor, filed the main Petition, CP No. (IB)-297/7/JPR/2019, under Section 7 of the IBC against Aastha Buildhome Developers Pvt. Ltd.
…Aastha Buildhome Developers Pvt. Ltd.…
Flat no. 809 in Aastha Coral Residency was…