The case involves an application filed under Section 33(1)(a) of the I&B Code, 2016, for the initiation of the liquidation process of Trivandrum International Health Services Limited, the Corporate Debtor. The application was filed by the Resolution Professional, Mr. Raju Palanilkunathil Kesavan. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by the financial creditor, Dhanlaxmi Bank Limited. Despite attempts to find a resolution plan, including multiple meetings of the Committee of Creditors (CoC) and consideration of various resolution plans submitted by prospective resolution applicants, none of the plans received the requisite voting consent. The CoC ultimately resolved to liquidate the Corporate Debtor.
Dhanlaxmi Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against Trivandrum International Health Services Limited. Raju Palanilkunathil Kesavan was appointed as the Resolution Professional. The Committee of Creditors (CoC) included Kerala Financial Corporation, State Bank of India, and Dhanlaxmi Bank Limited. Several resolution plans were submitted, including one by Dr. C Bharath Chandran, but none received the required 66% voting consent. The CoC resolved to liquidate the Corporate Debtor. Dr. C Bharath Chandran attempted to submit a joint resolution plan with Sabine Hospital and Research Centre Private Limited, but they were unable to resolve legal intricacies. The CoC voted with 100% voting right to recommend for liquidation of the Corporate
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Tribunal admitted the application filed by…
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The case involves an application filed under Section 33(1)(a) of the I&B Code, 2016, for the initiation of the liquidation process of Trivandrum International Health Services Limited, the Corporate Debtor. The application was filed by the Resolution Professional, Mr. Raju Palanilkunathil Kesavan. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by the financial creditor, Dhanlaxmi Bank Limited. Despite attempts to find a resolution plan, including multiple meetings of the Committee of Creditors (CoC) and consideration of various resolution plans submitted by prospective resolution applicants, none of the plans received the requisite voting consent. The CoC ultimately resolved to liquidate the Corporate Debtor.
Dhanlaxmi Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against Trivandrum International Health Services Limited. Raju Palanilkunathil Kesavan was appointed as the Resolution Professional. The Committee of Creditors (CoC) included Kerala Financial Corporation, State Bank of India, and Dhanlaxmi Bank Limited. Several resolution plans were submitted, including one by Dr. C Bharath Chandran, but none received the required 66% voting consent. The CoC resolved to liquidate the Corporate Debtor. Dr. C Bharath Chandran attempted to submit a joint resolution plan with Sabine Hospital and Research Centre Private Limited, but they were unable to resolve legal intricacies. The CoC voted with 100% voting right to recommend for liquidation of the Corporate
…Tribunal admitted the application filed by…
The Applicant published…