SRA duly satisfying all CIRP Regulations cannot be held as ineligible

Dr. Vijay Kant Dixit & Anr. Vs Amrapali Fincap Ltd. & Ors. (NCLAT Delhi) NCLAT Delhi held that order holding Successful Resolution Applicant as ineligible is wholly erroneous and unsustainable since SRA duly satisfied all the of CIRP Regulations. Accordingly, impugned order is quashed and set aside. Facts- The Corporate Debtor- M/s. J.C. World Hospitality Pvt. Ltd. is an MSME engaged in developing Real Estate. By order dated 13.12.2019, the Corporate Debtor has been admitted to Corporate Insolvency Resolution Process (CIRP) on application filed by the Financial Creditors in Class under...