Tribunal orders two promoters’ eviction from James Hotel

Ishrat S Banwait

Tribune news Service

Chandigarh, August 9

The National Company Law Tribunal (Chandigarh Bench) has directed two promoters of James Hotel Limited, Sector 17, to vacate the hotel premises within three weeks. If the order is not complied with, the tribunal added, the resolution professional can seek the help of the police and the Administration.

The decision came in the matter of Punjab National Bank, which had moved the tribunal under the Insolvency and Bankruptcy Code.

The two promoters are identified as Haravtar Singh Arora and Ajmer Singh Bhullar, both stated as residents of the hotel. The petition against the hotel was admitted in April last year and Navneet Gupta was registered as resolution professional.

The application sought eviction of the two promoters, informed counsel Vikas Garg.

It was stated that the company passed certain resolutions by way of which the share application money was converted into debt and close to Rs 1 crore was withdrawn. The application had added that even after the resolution process commenced, the duo continued to live in the hotel for free. In December last year, the tribunal ordered the police to provide security to the resolution professional and his team.

It was further stated that when the two were asked to pay for staying in the hotel premises, they refused.

The duo had filed objections to the application saying that it was not maintainable. However, the tribunal did not accept their contention.

The hotel is already under corporate insolvency process due to non-payment of loans taken by the company from banks.