The case involves two appeals against the same order dated 28.07.2023 passed by the National Company Law Tribunal, Mumbai Bench, Court-II, admitting a Section 7 application filed by Savannah Lifestyle Private Limited against Shaila Clubs and Resorts Pvt. Ltd. (Corporate Debtor).
Shaila Clubs and Resorts Pvt. Ltd. (Corporate Debtor) obtained financial facilities from a Consortium of Bank including Vasantdada Shetkari Sahakari Bank in 2005.
Savannah Lifestyle Pvt. Ltd. entered into a Conducting Agreement with the Corporate Debtor on 18.05.2007 for 15 years and six months.
The Cooperative Bank issued a Recovery Certificate on 23.02.2012 against the Corporate Debtor for recovering an amount of Rs.5,11,51,489.
The Cooperative Bank sent an OTS letter dated 06.06.2022 making an offer to pay a lumpsum amount of Rs.77,16,350 towards the outstanding loan of the Corporate Debtor.
The Cooperative Bank withdrew the OTS offer and returned the amount of Rs.87.92 lakhs paid by Savannah Lifestyle Pvt. Ltd.
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Shaila Clubs and Resorts Pvt. Ltd. obtained…
Savannah Lifestyle Pvt. Ltd. entered into a…
The case involves two appeals against the same order dated 28.07.2023 passed by the National Company Law Tribunal, Mumbai Bench, Court-II, admitting a Section 7 application filed by Savannah Lifestyle Private Limited against Shaila Clubs and Resorts Pvt. Ltd. (Corporate Debtor).
Shaila Clubs and Resorts Pvt. Ltd. (Corporate Debtor) obtained financial facilities from a Consortium of Bank including Vasantdada Shetkari Sahakari Bank in 2005.
Savannah Lifestyle Pvt. Ltd. entered into a Conducting Agreement with the Corporate Debtor on 18.05.2007 for 15 years and six months.
The Cooperative Bank issued a Recovery Certificate on 23.02.2012 against the Corporate Debtor for recovering an amount of Rs.5,11,51,489.
The Cooperative Bank sent an OTS letter dated 06.06.2022 making an offer to pay a lumpsum amount of Rs.77,16,350 towards the outstanding loan of the Corporate Debtor.
The Cooperative Bank withdrew the OTS offer and returned the amount of Rs.87.92 lakhs paid by Savannah Lifestyle Pvt. Ltd.
…Shaila Clubs and Resorts Pvt. Ltd. obtained…
Savannah Lifestyle Pvt. Ltd. entered into a…