# DCB Bank Ltd vs. Kalka Home Developers Pvt. Ltd.

> NCLT judgment dated 2026-07-03. Citation: TCN-2026-NCLT-00706. DCB Bank Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Kalka Home…

- **Court:** NCLT
- **Order date:** 3 Jul 2026
- **Citation:** TCN-2026-NCLT-00706
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/dcb-bank-ltd-vs-kalka-home-developers-pvt-ltd-bzpj5

## Summary

### Background

DCB Bank Ltd initiated a Corporate Insolvency Resolution Process (CIRP) against Kalka Home Developers Pvt. Ltd. Subsequently, Sh. Deepak Mangla, a Suspended Director of the Corporate Debtor, filed IA-3749/ND/2025 under Section 60(5) of the IBC, alleging material irregularities and fraudulent conduct by Sh. Mukesh Gupta, the Resolution Professional (RP), and other suspended directors/accomplices. Another application, IA-5128/ND/2025, sought the dismissal of the resolution plan and the removal of the RP. These applications highlighted serious concerns regarding the RP's conduct and the integrity of the CIRP.

## Facts

IA-3749/ND/2025 was preferred by Sh. Deepak Mangla, Suspended Director of Kalka Home Developers Pvt. Ltd., under Section 60(5) of the IBC.

The application raised issues concerning the conduct of Sh. Mukesh Gupta, Resolution Professional (Respondent No. 1).

The applicant alleged that the RP tampered with the entire voting process to achieve a favorable outcome.

The RP, in connivance with other suspended directors, allegedly siphoned off assets of the corporate debtor and illegally transferred them to relatives/nominees of suspended directors.

The RP allegedly did not include an entire asset of the corporate debtor in the information memorandum.

The applicant, also a suspended director, claimed to have been defrauded by the RP.

…

## Issues and analysis

### Issue 1: Whether the Resolution Professional, Sh. Mukesh Gupta, committed material irregularities and …

**Ratio:** The NCLT found serious allegations of misconduct and fraudulent activities by the RP,

…

**Reasoning:** The applicant (suspended director) provided detailed allegations, supported by facts such

…

**Interpretation:** The conduct of the RP, as alleged and prima facie established, constitutes a

…

**Application:** The NCLT considered these allegations sufficiently serious to reject the

…

## Parties

- **Judges:** Sh. Ashok Kumar…; ATUL CHAT…
- **Appellants:** DCB Ban…; Sh. Deepak…; +1 more
- **Respondents:** Kalka Home…; Mukesh…; +5 more
- **Other parties:** CoC of Kalka Home…; Allot…; +3 more
- **Advocates:** Palash S. S…; Harshal S…; +10 more

## Timeline

- **2024-12-13 — Payment to Ha…**: Applicant paid Rs. 5 Lakh (cash) to Hari Singh for land transfer, in addition to Rs. 14…
- **2024-12-17 — CIRP Period…**: The CIRP period of 330 days had already lapsed, four months prior to the voting on the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-new-delhi/dcb-bank-ltd-vs-kalka-home-developers-pvt-ltd-bzpj5