DIRECTORATE OF ENFORCEMENT VS GAURAV MISRA RESOLUTION PROFESSIONAL OF ALCHEMIST INFRA REALITY LTD

• Subhadeep
• 30 Jan, 2025
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• 2 Mins Read

DIRECTORATE OF ENFORCEMENT VS GAURAV MISRA RESOLUTION PROFESSIONAL OF ALCHEMIST INFRA REALITY LTD

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Case Summary

Details of the Parties:

1. Appellant: Vantage Point Asset Management Pte. Ltd.
2. Respondent: Gaurav Misra (Resolution Professional of Alchemist Infra Reality Ltd.).
3. Applicant in Interlocutory Application: Directorate of Enforcement (ED), represented by its Deputy Director from Delhi Zonal Office-II, Pravartan Bhawan, New Delhi.
4. Intervenor: Merge (represented by Ms. Prachi Johri and Ms. Abhipsa Sahu, Advocates).

Facts of the Case:

• The appellant, Vantage Point Asset Management Pte. Ltd., has filed an appeal in the National Company Law Appellate Tribunal (NCLAT) challenging aspects of the insolvency resolution process of Alchemist Infra Reality Ltd. The company is undergoing insolvency proceedings, and Gaurav Misra has been appointed as the Resolution Professional for the company.
• The Enforcement Directorate (ED) has filed an interlocutory application in the matter, which may involve issues related to enforcement actions against the corporate debtor.
• The case involves various stakeholders, including the Resolution Professional, the Enforcement Directorate, and other parties intervening in the process, with the appellant raising concerns related to the ongoing resolution.

Issues Involved:

1. Legality of the insolvency resolution process, including whether it is being conducted in accordance with the Insolvency and Bankruptcy Code.
2. The role of the Resolution Professional (Gaurav Misra) in the insolvency proceedings and the actions taken in the resolution process.
3. The Enforcement Directorate’s involvement and potential actions against the corporate debtor in connection with the insolvency process.
4. Challenges raised by the appellant regarding the resolution process, including any allegations or concerns related to the handling of the insolvency process.

Judgment:

• The provided information does not include the final judgment of the tribunal in this matter. However, the case appears to involve proceedings that will address the concerns raised by the appellant and the Enforcement Directorate’s application.
• The NCLAT will consider arguments from both the appellant and the Enforcement Directorate, as well as the resolution professional’s role in handling the insolvency proceedings.

Conclusion:

• The case is ongoing, with multiple legal entities involved in the insolvency process of Alchemist Infra Reality Ltd.
• The NCLAT will ultimately determine the outcome of the interlocutory applications and any related issues, including the appellant’s challenge to the insolvency proceedings and the ED’s involvement.
• The tribunal’s decision will clarify the legal standing of the resolution process, the actions of the resolution professional, and the enforcement actions related to the corporate debtor.

This is a consolidated summary based on the provided information, which focuses on the key parties, facts, and issues surrounding the case. Further details would depend on the tribunal’s eventual ruling.