The document pertains to IA(IBC)/349(CHE)/2023 filed in CP/IB/279/CHE/2021 under Section 30(6) & 31 of the Insolvency & Bankruptcy Code, 2016. The application was moved by the Resolution Professional of the Corporate Debtor, GBJ Hotels Private Limited, seeking approval of the resolution plan. The CIRP was initiated following an application under Section 7 of the IBC, 2016 by a Financial Creditor, and an order was passed by the Tribunal on 19.04.2022. The applicant was appointed as the IRP. The IRP made a public announcement on 22.04.2022. The Committee of Creditors (CoC) was formed, and voting rights were assigned. Several CoC meetings were held to discuss the business operations of the Corporate Debtor, appointment of valuers, invitation of resolution plans,
…GBJ Hotels Private Limited underwent Corporate Insolvency Resolution Process (CIRP) following an application by a Financial Creditor under Section 7 of the IBC, 2016. CA Mahalingam Suresh Kumar was appointed as the Resolution Professional (RP). The RP convened multiple meetings of the Committee of Creditors (CoC) to discuss the company's operations, invite resolution plans, and evaluate them. A 'Swiss Challenge Method' was employed to maximize the value of the resolution plan. KP Advisory Services LLP emerged as the successful resolution applicant, with their plan approved by the CoC with 100% voting rights. The resolution plan proposed to pay the admitted claims of Financial Creditors, Operational Creditors, Workmen & Employees, and Other Creditors. The RP sought
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Filing of CP/IB/279/CHE/…
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The document pertains to IA(IBC)/349(CHE)/2023 filed in CP/IB/279/CHE/2021 under Section 30(6) & 31 of the Insolvency & Bankruptcy Code, 2016. The application was moved by the Resolution Professional of the Corporate Debtor, GBJ Hotels Private Limited, seeking approval of the resolution plan. The CIRP was initiated following an application under Section 7 of the IBC, 2016 by a Financial Creditor, and an order was passed by the Tribunal on 19.04.2022. The applicant was appointed as the IRP. The IRP made a public announcement on 22.04.2022. The Committee of Creditors (CoC) was formed, and voting rights were assigned. Several CoC meetings were held to discuss the business operations of the Corporate Debtor, appointment of valuers, invitation of resolution plans,
…GBJ Hotels Private Limited underwent Corporate Insolvency Resolution Process (CIRP) following an application by a Financial Creditor under Section 7 of the IBC, 2016. CA Mahalingam Suresh Kumar was appointed as the Resolution Professional (RP). The RP convened multiple meetings of the Committee of Creditors (CoC) to discuss the company's operations, invite resolution plans, and evaluate them. A 'Swiss Challenge Method' was employed to maximize the value of the resolution plan. KP Advisory Services LLP emerged as the successful resolution applicant, with their plan approved by the CoC with 100% voting rights. The resolution plan proposed to pay the admitted claims of Financial Creditors, Operational Creditors, Workmen & Employees, and Other Creditors. The RP sought
…Filing of CP/IB/279/CHE/…
Tribunal orders…