The case involves multiple applications (IA(IBC)/492/KOB/2023, IA(IBC)/79/KOB/2024, and IA(IBC)/15/KOB/2024) related to the Corporate Insolvency Resolution Process (CIRP) of Asten Realtors Private Limited. The CIRP was initiated on 2023-01-25. IA(IBC)/492/KOB/2023 was filed by the Resolution Professional (RP) seeking approval of a resolution plan submitted by Asten Nautica Buyers Welfare Association, which was approved by the Committee of Creditors (CoC) with 78.39% voting shares. IA(IBC)/79/KOB/2024 seeks to reject the current resolution plan and invite a fresh one. IA(IBC)/15/KOB/2024 seeks to reject or amend the resolution plan to address shortfalls in applicant claims. The corporate debtor is in the real estate business with ongoing and completed projects. The
…Asten Realtors Private Limited was admitted into CIRP on 2023-01-25. The Resolution Professional (RP) received 299 claims totaling Rs.121.39 Crores for "Rajagiri Campus Court", 22 claims for Rs. 59.68 Crores for "Asten Nautica", and 3 claims for Rs.5.99 Crores for "Aurum Woods". The RP invited Expressions of Interest (EOI) for the Resolution Plan on March 28, 2023, which was extended till July 11, 2023. The land for the Asten Nautica project consists of 205.142 cents in Kumbalam Village, Cochin, with two towers planned. Tower 1 is 70% complete, and Tower 2 construction has not commenced. The building permit expired on February 16, 2022. Asten Nautica Buyers Welfare Association submitted a resolution plan, approved by the CoC with 78.39%
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Asten Realtors…
RP invited Expressions…
The case involves multiple applications (IA(IBC)/492/KOB/2023, IA(IBC)/79/KOB/2024, and IA(IBC)/15/KOB/2024) related to the Corporate Insolvency Resolution Process (CIRP) of Asten Realtors Private Limited. The CIRP was initiated on 2023-01-25. IA(IBC)/492/KOB/2023 was filed by the Resolution Professional (RP) seeking approval of a resolution plan submitted by Asten Nautica Buyers Welfare Association, which was approved by the Committee of Creditors (CoC) with 78.39% voting shares. IA(IBC)/79/KOB/2024 seeks to reject the current resolution plan and invite a fresh one. IA(IBC)/15/KOB/2024 seeks to reject or amend the resolution plan to address shortfalls in applicant claims. The corporate debtor is in the real estate business with ongoing and completed projects. The
…Asten Realtors Private Limited was admitted into CIRP on 2023-01-25. The Resolution Professional (RP) received 299 claims totaling Rs.121.39 Crores for "Rajagiri Campus Court", 22 claims for Rs. 59.68 Crores for "Asten Nautica", and 3 claims for Rs.5.99 Crores for "Aurum Woods". The RP invited Expressions of Interest (EOI) for the Resolution Plan on March 28, 2023, which was extended till July 11, 2023. The land for the Asten Nautica project consists of 205.142 cents in Kumbalam Village, Cochin, with two towers planned. Tower 1 is 70% complete, and Tower 2 construction has not commenced. The building permit expired on February 16, 2022. Asten Nautica Buyers Welfare Association submitted a resolution plan, approved by the CoC with 78.39%
…Asten Realtors…
RP invited Expressions…