The case involves an application filed by Mr. Mahesh Sureka, the Resolution Professional of Phadnis Resorts and Spa India Ltd., the Corporate Debtor, seeking approval of a resolution plan submitted by Elysia Hospitality LLP under section 30(6) of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated by Union Bank of India, the Financial Creditor, against the Corporate Debtor under Section 7 of the Code on 14.03.2019. The resolution plan was approved by 100% of the Committee of Creditors (CoC).
Mr. Mahesh Sureka, the Resolution Professional (RP) of Phadnis Resorts and Spa India Ltd. (Corporate Debtor), filed an application seeking approval of a resolution plan submitted by Elysia Hospitality LLP. Union Bank of India, the Financial Creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code (IBC) on 14.03.2019. The RP was appointed as the Interim Resolution Professional (IRP). Public announcement of CIRP initiation was made on 15.04.2019. The first Committee of Creditors (CoC) meeting was held on 09.05.2019, where the RP was confirmed. The second CoC meeting on 01.06.2019 revealed that one of the Corporate Debtor's directors was in judicial custody. The RP issued an
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Union Bank of India initiated the Corporate…
Public announcement…
The case involves an application filed by Mr. Mahesh Sureka, the Resolution Professional of Phadnis Resorts and Spa India Ltd., the Corporate Debtor, seeking approval of a resolution plan submitted by Elysia Hospitality LLP under section 30(6) of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated by Union Bank of India, the Financial Creditor, against the Corporate Debtor under Section 7 of the Code on 14.03.2019. The resolution plan was approved by 100% of the Committee of Creditors (CoC).
Mr. Mahesh Sureka, the Resolution Professional (RP) of Phadnis Resorts and Spa India Ltd. (Corporate Debtor), filed an application seeking approval of a resolution plan submitted by Elysia Hospitality LLP. Union Bank of India, the Financial Creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code (IBC) on 14.03.2019. The RP was appointed as the Interim Resolution Professional (IRP). Public announcement of CIRP initiation was made on 15.04.2019. The first Committee of Creditors (CoC) meeting was held on 09.05.2019, where the RP was confirmed. The second CoC meeting on 01.06.2019 revealed that one of the Corporate Debtor's directors was in judicial custody. The RP issued an
…Union Bank of India initiated the Corporate…
Public announcement…