Bank of India Wins NCLT Case to Dissolve Actif Corporation CoC

NCLT Ahmedabad allows Bank of India's application to dissolve Actif Corporation's Committee of Creditors and remove its Resolution Professional.
Tribunal finds RP improperly admitted ₹1083 crore claims from 14 unsecured creditors alleged to be related parties.
New Resolution Professional appointed to reconstitute CoC and restart CIRP process from scratch.
Original CoC formation deemed wrongful as secured creditors were reduced to 32.55% voting share.