The case involves an application under Section 60(5) read with Section 74(3) of the Insolvency and Bankruptcy Code, 2016, regarding the contravention of an approved resolution plan. Yes Bank Limited, the Financial Creditor, initiated CIRP against Sarga Hotel Private Limited, the Corporate Debtor. The resolution plan was approved on January 4, 2024.
Yes Bank Limited filed an application under Section 7 of the IBC 2016, leading to the commencement of CIRP against Sarga Hotel Private Limited on February 11, 2022.
The Adjudicating Authority approved the Resolution Plan of the Corporate Debtor on January 4, 2024.
Axis Bank Limited, a financial creditor, filed a claim of Rs 23,27,88,821, which was admitted by the Resolution Professional.
Axis Bank Limited held 5.91% of the voting share and voted in favor of the approval of the Resolution Plan.
The Resolution Plan stipulated that Axis Bank Limited was obligated to issue a 'No Dues Certificate' upon receipt of the settlement amount.
…Sign in to view the parties.
CIRP commenced…
The Adjudicating…
The case involves an application under Section 60(5) read with Section 74(3) of the Insolvency and Bankruptcy Code, 2016, regarding the contravention of an approved resolution plan. Yes Bank Limited, the Financial Creditor, initiated CIRP against Sarga Hotel Private Limited, the Corporate Debtor. The resolution plan was approved on January 4, 2024.
Yes Bank Limited filed an application under Section 7 of the IBC 2016, leading to the commencement of CIRP against Sarga Hotel Private Limited on February 11, 2022.
The Adjudicating Authority approved the Resolution Plan of the Corporate Debtor on January 4, 2024.
Axis Bank Limited, a financial creditor, filed a claim of Rs 23,27,88,821, which was admitted by the Resolution Professional.
Axis Bank Limited held 5.91% of the voting share and voted in favor of the approval of the Resolution Plan.
The Resolution Plan stipulated that Axis Bank Limited was obligated to issue a 'No Dues Certificate' upon receipt of the settlement amount.
…CIRP commenced…
The Adjudicating…