DCB Bank Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Kalka Home Developers Pvt. Ltd. under Section 7 of IBC. Subsequently, IA-3749/ND/2025 was filed by Sh. Deepak Mangla, a suspended director of the Corporate Debtor, alleging serious material irregularities and fraudulent conduct by the Resolution Professional (Sh. Mukesh Gupta) during the CIRP. These allegations included tampering with the voting process, siphoning off assets, illegal transfer of land, non-inclusion of assets in the information memorandum, and connivance with other suspended directors and individuals. IA-5128/ND/2025 sought the dismissal of the resolution plan (IA-32/ND/2025) and the removal of the RP.
DCB Bank Ltd is the Applicant/Petitioner in the main case under Section 7 of IBC, 2016.
Kalka Home Developers Pvt. Ltd is the Respondent and Corporate Debtor.
IA-3749/ND/2025 was preferred by Sh. Deepak Mangla, Suspended Director of Kalka Home Developers Pvt. Ltd.
IA-3749/ND/2025 raises issues concerning the conduct of Sh. Mukesh Gupta, Resolution Professional (Respondent No. 1).
The RP allegedly tampered with the entire voting process to achieve a favourable 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 make the assets of the Corporate Debtor recoverable, causing benefit to the suspended directors.
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Applicant paid Rs. 5…
The CIRP perio…
DCB Bank Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Kalka Home Developers Pvt. Ltd. under Section 7 of IBC. Subsequently, IA-3749/ND/2025 was filed by Sh. Deepak Mangla, a suspended director of the Corporate Debtor, alleging serious material irregularities and fraudulent conduct by the Resolution Professional (Sh. Mukesh Gupta) during the CIRP. These allegations included tampering with the voting process, siphoning off assets, illegal transfer of land, non-inclusion of assets in the information memorandum, and connivance with other suspended directors and individuals. IA-5128/ND/2025 sought the dismissal of the resolution plan (IA-32/ND/2025) and the removal of the RP.
DCB Bank Ltd is the Applicant/Petitioner in the main case under Section 7 of IBC, 2016.
Kalka Home Developers Pvt. Ltd is the Respondent and Corporate Debtor.
IA-3749/ND/2025 was preferred by Sh. Deepak Mangla, Suspended Director of Kalka Home Developers Pvt. Ltd.
IA-3749/ND/2025 raises issues concerning the conduct of Sh. Mukesh Gupta, Resolution Professional (Respondent No. 1).
The RP allegedly tampered with the entire voting process to achieve a favourable 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 make the assets of the Corporate Debtor recoverable, causing benefit to the suspended directors.
…Applicant paid Rs. 5…
The CIRP perio…