# In the matter of Sarga Hotel Private Limited IA(IB) No. 477-KB-2022 in CP(IB) No. 302-KB-2021

> NCLT judgment dated 2022-06-30. Citation: TCN-2022-NCLT-04630. Yes Bank, as a Financial Creditor, initiated a Company Petition under Section 7 of the…

- **Court:** NCLT
- **Order date:** 30 Jun 2022
- **Citation:** TCN-2022-NCLT-04630
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/sarga-hotel-private-limited-iaib-no-477-kb-2022-in-cpib-no-302-kb-2021-9c6d61a7

## Summary

### Background

Yes Bank, as a Financial Creditor, initiated a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/S Sarga Hotel Private Limited, which was admitted on February 11, 2022. An Interim Resolution Professional (IRP) was appointed at the time of admission.

## Facts

Yes Bank filed a Section 7 application under the IBC against M/S Sarga Hotel Private Limited, which was admitted on February 11, 2022.

Abhishek Bhardwaj, a suspended director of M/S Sarga Hotel Private Limited, filed IA(IB) No. 477/KB/2022 seeking a stay on the EOI issued by the RP and challenging the appointment of E & Y Restructuring LLP.

The applicant alleged that the Resolution Professional ignored directions of the Court and that there was a conflict of interest in appointing E & Y Restructuring LLP as the support service partner.

The Committee of Creditors (CoC) appointed E & Y Restructuring LLP as the advisor and provider of support services to the IRP/RP with 100% majority on March 11, 2022.

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## Issues and analysis

### Issue 1: Whether the application filed by the suspended director seeking a stay on the EOI and challenging …

**Ratio:** The application is not maintainable as it is an attempt to review the admission order

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**Reasoning:** The Adjudicating Authority cannot review its own order after it has attained finality.

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**Interpretation:** The application is an attempt to circumvent the legal process and delay the

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**Application:** The application is dismissed

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## Parties

- **Judges:** RohitKa…; Harish Chander…
- **Appellants:** Abhishek Bh…
- **Respondents:** M/S Sarga Hotel…; Yes Bank L…
- **Other parties:** Sunil…
- **Advocates:** Abhrajit…; Sourojit Da…; +15 more

## Timeline

- **2022-02-11 — Admission of Company…**: The Adjudicating Authority admitted the Company Petition filed by Yes Bank under Section…
- **2022-03-11 — Appointment of E & Y…**: The Committee of Creditors (CoC) appointed E & Y Restructuring LLP as the advisor and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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