The appeal was filed by Air Travel Enterprises India Ltd. (Appellant) against an order of admission of a Section 7 application under the Insolvency and Bankruptcy Code, 2016, filed by Union Bank of India (Respondent No.1/Financial Creditor) before the NCLT, Kochi Bench.
Air Travel Enterprises India Ltd., the Appellant, is a major shareholder of Green Gateway Leisure Ltd., the Corporate Debtor. The Corporate Debtor operates in the travel and tourism sector and obtained leasehold rights over 55.33 acres of land from Bekal Resorts, owned by the Government of Kerala. The Corporate Debtor was formed as a Special Purpose Vehicle (SPV) for the implementation and operation of a resort project at Bekal.
…Corporate Debtor obtained ₹20 Crores from State…
Agreement for granting an additional term loan…
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The appeal was filed by Air Travel Enterprises India Ltd. (Appellant) against an order of admission of a Section 7 application under the Insolvency and Bankruptcy Code, 2016, filed by Union Bank of India (Respondent No.1/Financial Creditor) before the NCLT, Kochi Bench.
Air Travel Enterprises India Ltd., the Appellant, is a major shareholder of Green Gateway Leisure Ltd., the Corporate Debtor. The Corporate Debtor operates in the travel and tourism sector and obtained leasehold rights over 55.33 acres of land from Bekal Resorts, owned by the Government of Kerala. The Corporate Debtor was formed as a Special Purpose Vehicle (SPV) for the implementation and operation of a resort project at Bekal.
…Corporate Debtor obtained ₹20 Crores from State…
Agreement for granting an additional term loan…
Sign in to view related legal provisions.