The case involves an application for the consolidation of the Corporate Insolvency Resolution Processes (CIRP) of Lavasa Corporation Limited (LCL) and its wholly-owned subsidiaries, Warasgaon Assets Maintenance Limited (WAML) and Dasve Convention Centre (DCCL). The CIRP of LCL was initiated following the admission of a company petition filed by Raj Infrastructure Development (India) Private Limited. Subsequently, another petition by the same Operational Creditor was admitted against WAML. A petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Highbrow Audio Visual Services Private Limited, was admitted against DCCL. The applicant seeks the consolidation of the CIRPs of LCL, WAML, and DCCL, along with the resolution of the debt of Warasgaon
…Lavasa Corporation Limited (LCL) is a company incorporated under the Companies Act 1956, developing a hill station in Maharashtra with 49 subsidiaries. Warasgaon Assets Maintenance Limited (WAML) is a wholly-owned subsidiary of LCL, managing transportation infrastructure. Dasve Convention Centre (DCCL) is also a 100% subsidiary of LCL, running the Dasve Convention Centre. Warasgaon Power Supply Limited (WPSL) and Dasve Retail Limited (DRL) are also wholly-owned subsidiaries. The CIRP of LCL commenced on August 30, 2018. The CIRP of WAML commenced on December 17, 2018. The CIRP of DCCL commenced on February 5, 2019. The entire financial debt of WAML, DCCL, DRL, and WPSL is guaranteed by LCL. The Committee of Creditors (CoC) of WAML supports consolidation. The Resolution
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The Corporate Insolvency Resolution Process…
The Corporate Insolvency Resolution Process…
The case involves an application for the consolidation of the Corporate Insolvency Resolution Processes (CIRP) of Lavasa Corporation Limited (LCL) and its wholly-owned subsidiaries, Warasgaon Assets Maintenance Limited (WAML) and Dasve Convention Centre (DCCL). The CIRP of LCL was initiated following the admission of a company petition filed by Raj Infrastructure Development (India) Private Limited. Subsequently, another petition by the same Operational Creditor was admitted against WAML. A petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Highbrow Audio Visual Services Private Limited, was admitted against DCCL. The applicant seeks the consolidation of the CIRPs of LCL, WAML, and DCCL, along with the resolution of the debt of Warasgaon
…Lavasa Corporation Limited (LCL) is a company incorporated under the Companies Act 1956, developing a hill station in Maharashtra with 49 subsidiaries. Warasgaon Assets Maintenance Limited (WAML) is a wholly-owned subsidiary of LCL, managing transportation infrastructure. Dasve Convention Centre (DCCL) is also a 100% subsidiary of LCL, running the Dasve Convention Centre. Warasgaon Power Supply Limited (WPSL) and Dasve Retail Limited (DRL) are also wholly-owned subsidiaries. The CIRP of LCL commenced on August 30, 2018. The CIRP of WAML commenced on December 17, 2018. The CIRP of DCCL commenced on February 5, 2019. The entire financial debt of WAML, DCCL, DRL, and WPSL is guaranteed by LCL. The Committee of Creditors (CoC) of WAML supports consolidation. The Resolution
…The Corporate Insolvency Resolution Process…
The Corporate Insolvency Resolution Process…