The case involves multiple Miscellaneous Applications (MAs) related to the insolvency resolution process of Lavasa Corporation Limited. The applicant, a creditor, participated in a project by Lavasa Corporation and sought the inclusion of Mr. Sunil Kumar Bansal as an authorized representative for allottees under real estate projects. The applicant also raised objections to the initially proposed authorized representatives, citing logistical issues and lack of information. The core issue revolves around the appointment of an authorized representative for a class of creditors (home buyers) in the corporate insolvency resolution process (CIRP).
Lavasa Corporation Limited initiated a project at Dasve mountains, where the applicant participated by signing an agreement on 2009-05-21 to acquire a villa, making substantial payments. On 2018-08-30, Lavasa Corporation was declared 'Insolvent' under Section 9 of the IBC, with Mr. Devendra Prasad appointed as the IRP. The IRP issued a public announcement on 2018-09-01, inviting claims from creditors. The applicant lodged a claim and was admitted as a financial creditor on 2018-09-05. The applicant objected to the proposed authorized representatives for the 'Class of Creditors' (allottees under real estate project) due to logistical concerns and lack of information. The applicant suggested Mr. Sunil Kumar Bansal as an alternative authorized representative. Mr. Shailesh
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Applicant signed an…
Lavasa Corporation Limited was declared…
The case involves multiple Miscellaneous Applications (MAs) related to the insolvency resolution process of Lavasa Corporation Limited. The applicant, a creditor, participated in a project by Lavasa Corporation and sought the inclusion of Mr. Sunil Kumar Bansal as an authorized representative for allottees under real estate projects. The applicant also raised objections to the initially proposed authorized representatives, citing logistical issues and lack of information. The core issue revolves around the appointment of an authorized representative for a class of creditors (home buyers) in the corporate insolvency resolution process (CIRP).
Lavasa Corporation Limited initiated a project at Dasve mountains, where the applicant participated by signing an agreement on 2009-05-21 to acquire a villa, making substantial payments. On 2018-08-30, Lavasa Corporation was declared 'Insolvent' under Section 9 of the IBC, with Mr. Devendra Prasad appointed as the IRP. The IRP issued a public announcement on 2018-09-01, inviting claims from creditors. The applicant lodged a claim and was admitted as a financial creditor on 2018-09-05. The applicant objected to the proposed authorized representatives for the 'Class of Creditors' (allottees under real estate project) due to logistical concerns and lack of information. The applicant suggested Mr. Sunil Kumar Bansal as an alternative authorized representative. Mr. Shailesh
…Applicant signed an…
Lavasa Corporation Limited was declared…