The case involves an application (I.A. 6111/2022) filed by the Resolution Professional (RP) of Dehradun Highways Project Limited, seeking directions to enter into a settlement agreement with the National Highway Authority of India (NHAI) on behalf of the Corporate Debtor. The Corporate Debtor had entered into a concessionaire agreement with NHAI for a highway project but later availed a Rupee Term Loan facility. NHAI terminated the agreement, leading to disputes and a writ petition filed by Bank of India. The High Court suggested settlement, and NHAI offered Rs. 306.62 Crores. The CoC approved liquidation due to the absence of a viable resolution plan but also approved seeking directions to settle with NHAI. The RP sought permission from NCLT to sign the settlement
…Dehradun Highways Project Limited (Corporate Debtor) entered into a concessionaire agreement with National Highway Authority of India (NHAI) for a highway construction project. The Corporate Debtor availed a Rupee Term Loan facility from a consortium of lenders. NHAI terminated the concessionaire agreement, leading to disputes. Bank of India, one of the lenders, filed a writ petition before the Delhi High Court. The High Court suggested settlement, and NHAI offered Rs. 306.62 Crores. The Committee of Creditors (CoC) approved liquidation due to the absence of a viable resolution plan. The CoC also approved seeking directions to enter into a settlement with NHAI. The Resolution Professional (RP) filed an application (I.A. 6111/2022) before the NCLT, seeking permission to
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The Corporate Debtor entered into a…
Substitution agreement was entered into…
The case involves an application (I.A. 6111/2022) filed by the Resolution Professional (RP) of Dehradun Highways Project Limited, seeking directions to enter into a settlement agreement with the National Highway Authority of India (NHAI) on behalf of the Corporate Debtor. The Corporate Debtor had entered into a concessionaire agreement with NHAI for a highway project but later availed a Rupee Term Loan facility. NHAI terminated the agreement, leading to disputes and a writ petition filed by Bank of India. The High Court suggested settlement, and NHAI offered Rs. 306.62 Crores. The CoC approved liquidation due to the absence of a viable resolution plan but also approved seeking directions to settle with NHAI. The RP sought permission from NCLT to sign the settlement
…Dehradun Highways Project Limited (Corporate Debtor) entered into a concessionaire agreement with National Highway Authority of India (NHAI) for a highway construction project. The Corporate Debtor availed a Rupee Term Loan facility from a consortium of lenders. NHAI terminated the concessionaire agreement, leading to disputes. Bank of India, one of the lenders, filed a writ petition before the Delhi High Court. The High Court suggested settlement, and NHAI offered Rs. 306.62 Crores. The Committee of Creditors (CoC) approved liquidation due to the absence of a viable resolution plan. The CoC also approved seeking directions to enter into a settlement with NHAI. The Resolution Professional (RP) filed an application (I.A. 6111/2022) before the NCLT, seeking permission to
…The Corporate Debtor entered into a…
Substitution agreement was entered into…