The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the resolution plan for KDJ Holidayscapes and Resorts Limited, a corporate debtor undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated following defaults in repaying a cash credit facility availed from TJSB Sahakari Bank Limited. The application was filed by Mr. Snehal Kamdar, the Resolution Professional (RP), and the resolution plan was submitted by Mr. Ravikumar Gaurishankar Patel, the Successful Resolution Applicant (SRA), and approved by the Committee of Creditors (CoC).
KDJ Holidayscapes and Resorts Limited ("Corporate Debtor") underwent Corporate Insolvency Resolution Process (CIRP) after defaulting on a cash credit facility from TJSB Sahakari Bank Limited ("Financial Creditor"). The CIRP was initiated based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Pradeep V. Samant was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Snehal Kamdar. The Committee of Creditors (CoC) was formed, and multiple meetings were held to discuss the resolution process. The CoC initially considered liquidation due to the COVID-19 pandemic but later decided to pursue a resolution plan. Mr. Ravikumar Gaurishankar Patel submitted a resolution plan, which was
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The Tribunal admitted…
The erstwhile RP made a…
The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the resolution plan for KDJ Holidayscapes and Resorts Limited, a corporate debtor undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated following defaults in repaying a cash credit facility availed from TJSB Sahakari Bank Limited. The application was filed by Mr. Snehal Kamdar, the Resolution Professional (RP), and the resolution plan was submitted by Mr. Ravikumar Gaurishankar Patel, the Successful Resolution Applicant (SRA), and approved by the Committee of Creditors (CoC).
KDJ Holidayscapes and Resorts Limited ("Corporate Debtor") underwent Corporate Insolvency Resolution Process (CIRP) after defaulting on a cash credit facility from TJSB Sahakari Bank Limited ("Financial Creditor"). The CIRP was initiated based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Pradeep V. Samant was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Snehal Kamdar. The Committee of Creditors (CoC) was formed, and multiple meetings were held to discuss the resolution process. The CoC initially considered liquidation due to the COVID-19 pandemic but later decided to pursue a resolution plan. Mr. Ravikumar Gaurishankar Patel submitted a resolution plan, which was
…The Tribunal admitted…
The erstwhile RP made a…