The case involves an application filed by the Resolution Professional (RP) seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period by 60 days. The company petition was admitted on 18.01.2021, and a Committee of Creditors (CoC) was formed. The RP published Form G (Invitation of Expression of Interest). The Director of NITHM informed the CoC about NITHM's Board Meeting decision to recommend to the Government of Telangana to permit renewal of lease beyond 33 years for a further period of 33 years. The Director of NITHM informed the COC that the terms and conditions of new lease agreement to be entered into with the SRA, will be decided by the Board of NITHM and will inform the COC shortly and based on that RP advised the Prospective Resolution
…Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against Saptarishi Hotels Pvt Ltd. The company petition was admitted on 18.01.2021. The Resolution Professional (RP) filed an application seeking a 60-day extension of the CIRP period, citing a lack of clarity from NITHM/Govt of Telangana regarding lease renewal terms. The Director of NITHM informed the CoC that the terms and conditions of new lease agreement to be entered into with the SRA, will be decided by the Board of NITHM and will inform the COC shortly and based on that RP advised the Prospective Resolution Applicants to submit revied plan within one week from the date of intimation of new lease terms and conditions. The RP published Form G (Invitation of Expression of Interest) on
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The company petition…
Form G (Invitation of…
The case involves an application filed by the Resolution Professional (RP) seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period by 60 days. The company petition was admitted on 18.01.2021, and a Committee of Creditors (CoC) was formed. The RP published Form G (Invitation of Expression of Interest). The Director of NITHM informed the CoC about NITHM's Board Meeting decision to recommend to the Government of Telangana to permit renewal of lease beyond 33 years for a further period of 33 years. The Director of NITHM informed the COC that the terms and conditions of new lease agreement to be entered into with the SRA, will be decided by the Board of NITHM and will inform the COC shortly and based on that RP advised the Prospective Resolution
…Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against Saptarishi Hotels Pvt Ltd. The company petition was admitted on 18.01.2021. The Resolution Professional (RP) filed an application seeking a 60-day extension of the CIRP period, citing a lack of clarity from NITHM/Govt of Telangana regarding lease renewal terms. The Director of NITHM informed the CoC that the terms and conditions of new lease agreement to be entered into with the SRA, will be decided by the Board of NITHM and will inform the COC shortly and based on that RP advised the Prospective Resolution Applicants to submit revied plan within one week from the date of intimation of new lease terms and conditions. The RP published Form G (Invitation of Expression of Interest) on
…The company petition…
Form G (Invitation of…