The case involves the Corporate Insolvency Resolution Process (CIRP) of M/s Maha Associated Hotels Private Limited. The CIRP was initiated following an application by an operational creditor, M/s UVA Engineers Private Limited. The Adjudicating Authority admitted the application on 20.09.2018. Several Interlocutory Applications (IAs) were filed during the CIRP, including those related to the replacement of the Resolution Professional (RP), extension of the CIRP timeline, and challenges to the resolution plan. The Committee of Creditors (CoC) adopted a 'Swiss Challenge' method for the approval of the resolution plan, which was challenged by some Prospective Resolution Applicants (PRAs). The resolution plan submitted by Truflair Buildwell LLP was ultimately approved by
…M/s Maha Associated Hotels Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated by M/s UVA Engineers Private Limited, an operational creditor. The CIRP commenced on 20.09.2018. Mr. Brij Kishore Sharma was initially appointed as the Insolvency Resolution Professional (IRP), later replaced by Mr. Naresh Kumar Munjal, and subsequently by Mr. Tara Chand Meenia. The CoC directed the applicant to seek exclusion and extension of the CIRP, which was rejected by the Adjudicating Authority and challenged before NCLAT. Form-G was published on 01.02.2024, inviting Expressions of Interest (EoI). 24 EoIs were received. The CoC adopted the Swiss Challenge method for resolution plan approval. Several IAs were filed, including challenges to the eligibility
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Adjudicating Authority admitted the…
Mr. Brij Kishore Sharma…
The case involves the Corporate Insolvency Resolution Process (CIRP) of M/s Maha Associated Hotels Private Limited. The CIRP was initiated following an application by an operational creditor, M/s UVA Engineers Private Limited. The Adjudicating Authority admitted the application on 20.09.2018. Several Interlocutory Applications (IAs) were filed during the CIRP, including those related to the replacement of the Resolution Professional (RP), extension of the CIRP timeline, and challenges to the resolution plan. The Committee of Creditors (CoC) adopted a 'Swiss Challenge' method for the approval of the resolution plan, which was challenged by some Prospective Resolution Applicants (PRAs). The resolution plan submitted by Truflair Buildwell LLP was ultimately approved by
…M/s Maha Associated Hotels Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated by M/s UVA Engineers Private Limited, an operational creditor. The CIRP commenced on 20.09.2018. Mr. Brij Kishore Sharma was initially appointed as the Insolvency Resolution Professional (IRP), later replaced by Mr. Naresh Kumar Munjal, and subsequently by Mr. Tara Chand Meenia. The CoC directed the applicant to seek exclusion and extension of the CIRP, which was rejected by the Adjudicating Authority and challenged before NCLAT. Form-G was published on 01.02.2024, inviting Expressions of Interest (EoI). 24 EoIs were received. The CoC adopted the Swiss Challenge method for resolution plan approval. Several IAs were filed, including challenges to the eligibility
…Adjudicating Authority admitted the…
Mr. Brij Kishore Sharma…