This case involves an application (IA 250/2024) filed by the Resolution Professional (RP) of Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC). The RP sought reliefs against Greater Hyderabad Municipal Corporation (GHMC), the respondent, regarding property tax demands. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 2022-04-11. The GHMC issued demand notices for property tax arrears, including pre-CIRP and CIRP periods. The RP argued that the GHMC's actions violated the moratorium under Section 14 of the IBC.
Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) was admitted into CIRP on 2022-04-11, based on a petition filed by Pridhvi Asset Reconstruction and Securitisation Company Limited (Financial Creditor). The Resolution Professional (RP) was appointed and later confirmed by the Committee of Creditors (CoC). During the CIRP, Greater Hyderabad Municipal Corporation (GHMC) issued demand notices for property tax arrears, including both pre-CIRP and CIRP periods. The total arrears were Rs. 38,54,691/-, with Rs. 12,24,704/- pertaining to the CIRP period and Rs. 26,29,987/- to the pre-CIRP period. The GHMC also informed the Corporate Debtor that the hotel was operating without a trade license, violating GHMC regulations. The RP sought permission to make partial
…Sign in to view the parties.
Filing of Corporate…
Corporate Debtor…
This case involves an application (IA 250/2024) filed by the Resolution Professional (RP) of Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC). The RP sought reliefs against Greater Hyderabad Municipal Corporation (GHMC), the respondent, regarding property tax demands. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 2022-04-11. The GHMC issued demand notices for property tax arrears, including pre-CIRP and CIRP periods. The RP argued that the GHMC's actions violated the moratorium under Section 14 of the IBC.
Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) was admitted into CIRP on 2022-04-11, based on a petition filed by Pridhvi Asset Reconstruction and Securitisation Company Limited (Financial Creditor). The Resolution Professional (RP) was appointed and later confirmed by the Committee of Creditors (CoC). During the CIRP, Greater Hyderabad Municipal Corporation (GHMC) issued demand notices for property tax arrears, including both pre-CIRP and CIRP periods. The total arrears were Rs. 38,54,691/-, with Rs. 12,24,704/- pertaining to the CIRP period and Rs. 26,29,987/- to the pre-CIRP period. The GHMC also informed the Corporate Debtor that the hotel was operating without a trade license, violating GHMC regulations. The RP sought permission to make partial
…Filing of Corporate…
Corporate Debtor…