The case involves an application by Citron Strategies Pvt. Ltd. against Leading Hotels Ltd. under Section 7 of the Insolvency & Bankruptcy Code (IBC), 2016. The applicant, claiming to be a homebuyer (allottee) qua a villa, had their claim submitted belatedly. The Resolution Professional (RP) is directed to examine the claim with reference to the books of accounts of the Corporate Debtor (CD) and take a decision on merits. Another application (IA-4006/2022) is for approval of the Resolution Plan, and other applications (IA-3940/2022 & IA-255/2023) are objections to this plan. IA-4005/2022 concerns a valuation report of the CD's property.
Citron Strategies Pvt. Ltd. filed an application against Leading Hotels Ltd. under Section 7 of the IBC, 2016. Citron Strategies claims to be a homebuyer (allottee) in relation to a villa. The claim was submitted late in the insolvency resolution process. The RP is reviewing the claim against the books of accounts of Leading Hotels Ltd. An application (IA-4006/2022) seeks approval of the Resolution Plan. Other applications (IA-3940/2022 & IA-255/2023) raise objections to the Resolution Plan. IA-4005/2022 concerns a valuation report dated 2021-06-15 by I S Associates Pvt. Ltd., which valued the property at Rs. 6,82,28,000. The court found the valuation report lacking in analysis and discussion. The court directed the valuator to submit a detailed report. The RP is
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The case involves an application by Citron Strategies Pvt. Ltd. against Leading Hotels Ltd. under Section 7 of the Insolvency & Bankruptcy Code (IBC), 2016. The applicant, claiming to be a homebuyer (allottee) qua a villa, had their claim submitted belatedly. The Resolution Professional (RP) is directed to examine the claim with reference to the books of accounts of the Corporate Debtor (CD) and take a decision on merits. Another application (IA-4006/2022) is for approval of the Resolution Plan, and other applications (IA-3940/2022 & IA-255/2023) are objections to this plan. IA-4005/2022 concerns a valuation report of the CD's property.
Citron Strategies Pvt. Ltd. filed an application against Leading Hotels Ltd. under Section 7 of the IBC, 2016. Citron Strategies claims to be a homebuyer (allottee) in relation to a villa. The claim was submitted late in the insolvency resolution process. The RP is reviewing the claim against the books of accounts of Leading Hotels Ltd. An application (IA-4006/2022) seeks approval of the Resolution Plan. Other applications (IA-3940/2022 & IA-255/2023) raise objections to the Resolution Plan. IA-4005/2022 concerns a valuation report dated 2021-06-15 by I S Associates Pvt. Ltd., which valued the property at Rs. 6,82,28,000. The court found the valuation report lacking in analysis and discussion. The court directed the valuator to submit a detailed report. The RP is
…The RP is allowed to…
Date of the valuation…
Sign in to view related legal provisions.