The case pertains to an application filed under section 30(6) and section 31(1) of the Insolvency & Bankruptcy Code, 2016 read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 for approval of a Resolution Plan for Sarga Hotel Private Limited. The Corporate Debtor was admitted into CIRP vide order dated 11.02.2022, and Mr. Avishek Gupta was appointed as the IRP. Public announcements were made to invite claims from creditors. Shriram Multicom Private Limited's resolution plan was approved by the CoC with 100% voting shares. The Applicant issued a Letter of Intent to the Successful Resolution Applicant on 31.05.2023 and received a Performance Bank Guarantee dated 27.10.2022.
Sarga Hotel Private Limited underwent Corporate Insolvency Resolution Process (CIRP). Yes Bank Limited is the Financial Creditor. Avishek Gupta was appointed as the Resolution Professional. Shriram Multicom Private Limited submitted a Resolution Plan that was approved by the Committee of Creditors (CoC) with 100% voting shares. The Resolution Plan includes a total plan value of Rs. 30,099.01 Lakhs for the Corporate Debtor. The Resolution Professional filed an application for approval of the Resolution Plan. The CIRP was initiated on 11.02.2022. The applicant issued Letter of Intent to the Successful Resolution Applicant on 31.05.2023 and received a Performance Bank Guarantee dated 27.10.2022 for an amount of Rs. 25,00,00,000/-. The land admeasuring 3.5 acres is built
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The Corporate Debtor,…
Public announcement was…
The case pertains to an application filed under section 30(6) and section 31(1) of the Insolvency & Bankruptcy Code, 2016 read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 for approval of a Resolution Plan for Sarga Hotel Private Limited. The Corporate Debtor was admitted into CIRP vide order dated 11.02.2022, and Mr. Avishek Gupta was appointed as the IRP. Public announcements were made to invite claims from creditors. Shriram Multicom Private Limited's resolution plan was approved by the CoC with 100% voting shares. The Applicant issued a Letter of Intent to the Successful Resolution Applicant on 31.05.2023 and received a Performance Bank Guarantee dated 27.10.2022.
Sarga Hotel Private Limited underwent Corporate Insolvency Resolution Process (CIRP). Yes Bank Limited is the Financial Creditor. Avishek Gupta was appointed as the Resolution Professional. Shriram Multicom Private Limited submitted a Resolution Plan that was approved by the Committee of Creditors (CoC) with 100% voting shares. The Resolution Plan includes a total plan value of Rs. 30,099.01 Lakhs for the Corporate Debtor. The Resolution Professional filed an application for approval of the Resolution Plan. The CIRP was initiated on 11.02.2022. The applicant issued Letter of Intent to the Successful Resolution Applicant on 31.05.2023 and received a Performance Bank Guarantee dated 27.10.2022 for an amount of Rs. 25,00,00,000/-. The land admeasuring 3.5 acres is built
…The Corporate Debtor,…
Public announcement was…