The case involves an application under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of a resolution plan for Lanco Hoskote Highway Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 17.10.2019. The resolution plan was submitted by Kalyan Toll Infrastructure Limited.
The Corporate Insolvency Resolution Process (CIRP) for Lanco Hoskote Highway Limited was initiated on 17.10.2019. Edelweiss Asset Reconstruction Company Limited and State Bank of India were the financial creditors, holding 32% and 68% of the voting share, respectively. Three resolution plans were received, including one from Kalyan Toll Infrastructure Limited. The CoC approved the resolution plan submitted by Kalyan Toll Infrastructure Limited with 100% voting share. The resolution plan provided for a total amount of Rs. 201.89 crores. The Resolution Applicant sought certain reliefs and waivers from the National Highways Authority of India (NHAI). The liquidation value of the Corporate Debtor was Rs. 110.78 crores, and the fair market value was Rs. 181.44 crores.
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Corporate Insolvency Resolution Process (CIRP)…
The minutes of the 9th…
The case involves an application under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of a resolution plan for Lanco Hoskote Highway Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 17.10.2019. The resolution plan was submitted by Kalyan Toll Infrastructure Limited.
The Corporate Insolvency Resolution Process (CIRP) for Lanco Hoskote Highway Limited was initiated on 17.10.2019. Edelweiss Asset Reconstruction Company Limited and State Bank of India were the financial creditors, holding 32% and 68% of the voting share, respectively. Three resolution plans were received, including one from Kalyan Toll Infrastructure Limited. The CoC approved the resolution plan submitted by Kalyan Toll Infrastructure Limited with 100% voting share. The resolution plan provided for a total amount of Rs. 201.89 crores. The Resolution Applicant sought certain reliefs and waivers from the National Highways Authority of India (NHAI). The liquidation value of the Corporate Debtor was Rs. 110.78 crores, and the fair market value was Rs. 181.44 crores.
Corporate Insolvency Resolution Process (CIRP)…
The minutes of the 9th…