# In the matter of Multiple Hotels Private Limited I.A.(IB) No. 208-KB-2021 in C.P (IB) No.204-KB-2019

> NCLT judgment dated 2022-05-06. Citation: TCN-2022-NCLT-04832. The Resolution Professional (RP) filed an application (I.A. (IB) No. 208/KB/2021) in C.P.(IB)…

- **Court:** NCLT
- **Order date:** 6 May 2022
- **Citation:** TCN-2022-NCLT-04832
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/multiple-hotels-private-limited-iaib-no-208-kb-2021-in-cp-ib-no204-kb-2019-a83dd3db

## Summary

### Background

The Resolution Professional (RP) filed an application (I.A. (IB) No. 208/KB/2021) in C.P.(IB) No. 204/KB/2019, related to the Corporate Insolvency Resolution Process (CIRP) of Multiple Hotels Private Limited. The CIRP commenced on October 4, 2019, and the Interim Resolution Professional (IRP) was confirmed as RP in the first Committee of Creditors (CoC) meeting on January 9, 2020. The RP appointed a Transaction Auditor to investigate the corporate debtor's transactions.

## Facts

CIRP commenced vide order dated 4th October, 2019.

IRP appointed in this matter was confirmed as RP in the first meeting of the CoC on 9th January, 2020.

The applicant appointed a Transaction Auditor to carry out investigation into the transactions of the Corporate Debtor.

The Transaction Auditor's report indicated that several transactions were carried out in favor of related parties within three years before the CIRP commencement.

The applicant sought directions upon respondent no.3 to 6 to jointly and severally contribute and pay a sum of Rs.80,50,000/- in term of section 44.

The applicant sought directions upon respondent no.2 and 12 to 14 be directed jointly and severally to contribute a sum of Rs. 5,69,773/- in terms of section 44 of the Code.

## Issues and analysis

### Issue 1: Whether the transactions carried out by the Corporate Debtor constitute preferential transactions …

**Ratio:** The Adjudicating Authority found that the RP failed to establish that the transactions

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**Reasoning:** The Adjudicating Authority noted that the RP merely repeated extracts or observations

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**Interpretation:** The Adjudicating Authority interpreted that the RP has to independently

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**Application:** The Adjudicating Authority applied the principle that the RP cannot simply rely

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## Parties

- **Judges:** RohitKa…; Harish Chander…
- **Appellants:** Kotak Mahindra…; Jitendra…
- **Respondents:** Multiple Hotels…; Nikhil Cho…
- **Advocates:** Manju Bhu…; Pratik…; +5 more

## Timeline

- **2019-10-04 — CIRP Commen…**: CIRP commenced vide order…
- **2020-01-09 — RP Appoin…**: IRP appointed in this matter was confirmed as RP in the first meeting of the CoC on 9th…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 43 — Preferential transactions and relevant time](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-43)

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