The case involves an application filed by the Monitoring Agent/Monitoring Committee of PVS Memorial Hospital Private Limited seeking permission to pay Rs. 28,662 to the Kerala Water Authority (KWA) as final payment, as per the approved resolution plan. The CIRP was initiated against PVS Memorial Hospital Private Limited in TIBA/11/KOB/2019, and the resolution plan submitted by Lissie Medical Institution was approved. KWA had submitted a claim during the CIRP, part of which was provisionally admitted. However, the resolution plan did not include a provision for payment to KWA, leading to the current dispute. The applicant had previously filed M.A.No.35/KOB/2021 seeking directions to KWA to reinstate water supply, which was partly granted. The current application seeks
…The Corporate Insolvency Resolution Process (CIRP) was initiated against PVS Memorial Hospital Private Limited (Corporate Debtor) under TIBA/11/KOB/2019. The applicant was appointed as the Monitoring Agent. During the CIRP, Kerala Water Authority (KWA) submitted a claim of Rs. 16,10,79,287, which included water charges and penalties. The Resolution Professional (RP) rejected Rs. 15,90,71,726 of the claim due to lack of supporting documents, and provisionally admitted Rs. 20,07,561. The resolution plan, approved on 22.02.2021, did not include any provision for payment to KWA. An amount of Rs. 125,00,00,000 was distributed as per Section 53 of the IBC, and Rs. 1,00,00,000 was allocated for operational and unsecured financial creditors. The applicant filed
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CIRP initiated against…
Order by the Adjudicatin…
The case involves an application filed by the Monitoring Agent/Monitoring Committee of PVS Memorial Hospital Private Limited seeking permission to pay Rs. 28,662 to the Kerala Water Authority (KWA) as final payment, as per the approved resolution plan. The CIRP was initiated against PVS Memorial Hospital Private Limited in TIBA/11/KOB/2019, and the resolution plan submitted by Lissie Medical Institution was approved. KWA had submitted a claim during the CIRP, part of which was provisionally admitted. However, the resolution plan did not include a provision for payment to KWA, leading to the current dispute. The applicant had previously filed M.A.No.35/KOB/2021 seeking directions to KWA to reinstate water supply, which was partly granted. The current application seeks
…The Corporate Insolvency Resolution Process (CIRP) was initiated against PVS Memorial Hospital Private Limited (Corporate Debtor) under TIBA/11/KOB/2019. The applicant was appointed as the Monitoring Agent. During the CIRP, Kerala Water Authority (KWA) submitted a claim of Rs. 16,10,79,287, which included water charges and penalties. The Resolution Professional (RP) rejected Rs. 15,90,71,726 of the claim due to lack of supporting documents, and provisionally admitted Rs. 20,07,561. The resolution plan, approved on 22.02.2021, did not include any provision for payment to KWA. An amount of Rs. 125,00,00,000 was distributed as per Section 53 of the IBC, and Rs. 1,00,00,000 was allocated for operational and unsecured financial creditors. The applicant filed
…CIRP initiated against…
Order by the Adjudicatin…