The application was filed under Section 30(6) of the Insolvency & Bankruptcy Code, 2016, seeking approval of the Resolution Plan passed by the Consolidated Committee of Creditors (CoC). The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) vide order dated August 30, 2018, and the CIRP was consolidated with its four subsidiaries, commencing a Consolidated CIRP on May 13, 2021. The Resolution Plan submitted by Darwin Platform Infrastructure Limited was approved by the CoC with a 96.14% vote share on December 23, 2021. The Resolution Professional (RP) then filed the instant application on January 18, 2022.
The Corporate Debtor, Lavasa Corporation Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on August 30, 2018. The CIRP was subsequently consolidated with its four subsidiaries, commencing a Consolidated CIRP on May 13, 2021. Darwin Platform Infrastructure Limited submitted a Resolution Plan, which was approved by the Committee of Creditors (CoC) with a 96.14% vote share on December 23, 2021. The Resolution Plan proposed a distribution of funds among various stakeholders, including Secured Financial Creditors, Unsecured Financial Creditors, Operational Creditors, and Government dues. The Resolution Professional (RP) filed an application seeking approval of the Resolution Plan. The key fact is the disparity in the treatment of Secured Financial
…Sign in to view the parties.
Corporate Debtor…
Consolidated CIRP…
The application was filed under Section 30(6) of the Insolvency & Bankruptcy Code, 2016, seeking approval of the Resolution Plan passed by the Consolidated Committee of Creditors (CoC). The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) vide order dated August 30, 2018, and the CIRP was consolidated with its four subsidiaries, commencing a Consolidated CIRP on May 13, 2021. The Resolution Plan submitted by Darwin Platform Infrastructure Limited was approved by the CoC with a 96.14% vote share on December 23, 2021. The Resolution Professional (RP) then filed the instant application on January 18, 2022.
The Corporate Debtor, Lavasa Corporation Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on August 30, 2018. The CIRP was subsequently consolidated with its four subsidiaries, commencing a Consolidated CIRP on May 13, 2021. Darwin Platform Infrastructure Limited submitted a Resolution Plan, which was approved by the Committee of Creditors (CoC) with a 96.14% vote share on December 23, 2021. The Resolution Plan proposed a distribution of funds among various stakeholders, including Secured Financial Creditors, Unsecured Financial Creditors, Operational Creditors, and Government dues. The Resolution Professional (RP) filed an application seeking approval of the Resolution Plan. The key fact is the disparity in the treatment of Secured Financial
…Corporate Debtor…
Consolidated CIRP…