The case involves two applications, IA(IBC)/493/KOB/2023 and IA(IBC)/51/KOB/2024, related to the Corporate Insolvency Resolution Process (CIRP) of Asten Realtors Private Limited. IA(IBC)/493/KOB/2023 was filed by the Resolution Professional (RP) seeking approval of a project-wise resolution plan submitted by Rajagiri Campus Court Home Buyers Welfare Association, which was approved by the Committee of Creditors (CoC) with 78.39% voting shares. IA(IBC)/51/KOB/2024 was filed by Piramal Capital and Housing Finance Limited seeking rejection of the resolution plan and invitation of a fresh holistic Resolution Plan for the entire assets of the Corporate Debtor. The Corporate Debtor was admitted into CIRP on 2023-01-25. The RP admitted claims until 2023-08-15. The resolution
…Asten Realtors Private Limited was admitted into CIRP on 2023-01-25. Mr. Rajendran P R was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) on 2023-03-25. The CIRP ended on 2023-12-21 after due extensions. The RP admitted claims till 2023-08-15. The Corporate Debtor is in the business of real estate development with three ongoing projects and one completed project. The RP received two prospective Resolution Plans, one from Rajagiri Campus Court Home Buyers Welfare Association for Project Asten Campus Court, and another from Asten Nautica Home Buyers Welfare Association for Project Austen Nautica. The 8th CoC on 2023-10-16 approved the plans with 78.39% voting rights. The resolution plan focuses on the Asten
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Asten Realtors…
Mr. Rajendran P R…
The case involves two applications, IA(IBC)/493/KOB/2023 and IA(IBC)/51/KOB/2024, related to the Corporate Insolvency Resolution Process (CIRP) of Asten Realtors Private Limited. IA(IBC)/493/KOB/2023 was filed by the Resolution Professional (RP) seeking approval of a project-wise resolution plan submitted by Rajagiri Campus Court Home Buyers Welfare Association, which was approved by the Committee of Creditors (CoC) with 78.39% voting shares. IA(IBC)/51/KOB/2024 was filed by Piramal Capital and Housing Finance Limited seeking rejection of the resolution plan and invitation of a fresh holistic Resolution Plan for the entire assets of the Corporate Debtor. The Corporate Debtor was admitted into CIRP on 2023-01-25. The RP admitted claims until 2023-08-15. The resolution
…Asten Realtors Private Limited was admitted into CIRP on 2023-01-25. Mr. Rajendran P R was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) on 2023-03-25. The CIRP ended on 2023-12-21 after due extensions. The RP admitted claims till 2023-08-15. The Corporate Debtor is in the business of real estate development with three ongoing projects and one completed project. The RP received two prospective Resolution Plans, one from Rajagiri Campus Court Home Buyers Welfare Association for Project Asten Campus Court, and another from Asten Nautica Home Buyers Welfare Association for Project Austen Nautica. The 8th CoC on 2023-10-16 approved the plans with 78.39% voting rights. The resolution plan focuses on the Asten
…Asten Realtors…
Mr. Rajendran P R…