This case involves an application (I.A. No. 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) 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 contended that GHMC failed to lodge its claim for pre-CIRP dues and sought permission to pay CIRP dues in installments. The GHMC also threatened to seal the hotel premises due to non-payment of arrears.
Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) on 2022-04-11, following a petition filed by Pridhvi Asset Reconstruction and Securitisation Company Limited (Financial Creditor). An Interim Resolution Professional (IRP) was appointed and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 2022-05-11. During the CIRP, Greater Hyderabad Municipal Corporation (GHMC) issued a demand notice dated 2022-11-10 to the Corporate Debtor for property tax arrears. The GHMC also informed the Corporate Debtor that the hotel was operating without a valid trade license, violating GHMC regulations. The total tax arrears were Rs. 38,54,691/-, with Rs. 12,24,704/-
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Filing of C…
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This case involves an application (I.A. No. 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) 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 contended that GHMC failed to lodge its claim for pre-CIRP dues and sought permission to pay CIRP dues in installments. The GHMC also threatened to seal the hotel premises due to non-payment of arrears.
Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) on 2022-04-11, following a petition filed by Pridhvi Asset Reconstruction and Securitisation Company Limited (Financial Creditor). An Interim Resolution Professional (IRP) was appointed and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 2022-05-11. During the CIRP, Greater Hyderabad Municipal Corporation (GHMC) issued a demand notice dated 2022-11-10 to the Corporate Debtor for property tax arrears. The GHMC also informed the Corporate Debtor that the hotel was operating without a valid trade license, violating GHMC regulations. The total tax arrears were Rs. 38,54,691/-, with Rs. 12,24,704/-
…Filing of C…
Corporate Debtor…