The case involves an application filed by the Resolution Professional under Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval for the Resolution Plan submitted by the successful Resolution Applicant, a consortium of M/s. Royal Heights Projects Private Limited and Mr. Tiju Varghese Chacko. The underlying Company Petition was filed by the State Bank of India against ITMA Hotels India Pvt Ltd, the Corporate Debtor, under Section 7 of the IBC, which was admitted on 31.12.2021. The Interim Resolution Professional was appointed and later confirmed as the Resolution Professional. The CoC approved the resolution plan with a 100% vote share. The resolution plan includes provisions for payment of insolvency resolution process costs, debts of operational
…The State Bank of India filed a Company Petition (CP(IB)/30/KOB/2021) against ITMA Hotels India Pvt Ltd (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, which was admitted on 31.12.2021. Mr. Kizhakkekara Kuriakose Jose was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Invitations for Expression of Interest (EOI) were issued on 07.04.2022, and the applicant received EOIs from three Prospective Resolution Applicants (PRAs). The last date for submission of the Resolution Plan was 02.07.2022. A consortium of M/s. Royal Heights Projects Private Limited and Mr. Tiju Varghese Chacko submitted the Resolution Plan on 30.06.2022, which was revised on 25.08.2022 and approved by the
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The Company Petition filed by the State Bank of…
Mr. Kizhakkekara Kuriakose Jose, the Interim…
The case involves an application filed by the Resolution Professional under Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval for the Resolution Plan submitted by the successful Resolution Applicant, a consortium of M/s. Royal Heights Projects Private Limited and Mr. Tiju Varghese Chacko. The underlying Company Petition was filed by the State Bank of India against ITMA Hotels India Pvt Ltd, the Corporate Debtor, under Section 7 of the IBC, which was admitted on 31.12.2021. The Interim Resolution Professional was appointed and later confirmed as the Resolution Professional. The CoC approved the resolution plan with a 100% vote share. The resolution plan includes provisions for payment of insolvency resolution process costs, debts of operational
…The State Bank of India filed a Company Petition (CP(IB)/30/KOB/2021) against ITMA Hotels India Pvt Ltd (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, which was admitted on 31.12.2021. Mr. Kizhakkekara Kuriakose Jose was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Invitations for Expression of Interest (EOI) were issued on 07.04.2022, and the applicant received EOIs from three Prospective Resolution Applicants (PRAs). The last date for submission of the Resolution Plan was 02.07.2022. A consortium of M/s. Royal Heights Projects Private Limited and Mr. Tiju Varghese Chacko submitted the Resolution Plan on 30.06.2022, which was revised on 25.08.2022 and approved by the
…The Company Petition filed by the State Bank of…
Mr. Kizhakkekara Kuriakose Jose, the Interim…