NCLAT Dismisses Viceroy Hotels RP Appeal

NCLAT dismissed Resolution Professional Koteswara Rao Karuchola's appeal against NCLT's referral to IBBI for investigation.
The RP was found to have committed professional misconduct during Viceroy Hotels' CIRP, including improper claim verification outsourcing.
IBBI's Disciplinary Committee had already imposed ₹1 lakh penalty on the RP for violating Code of Conduct provisions.
The tribunal upheld findings that RP favored CFM ARC's resolution plan without proper RBI approval for Tolaram's inclusion.