The case involves two applications regarding the Corporate Insolvency Resolution Process (CIRP) of Lok Housing and Constructions Limited. Ashdan Properties Private Limited (Applicant) filed IA/198/2025 against the Resolution Professional and the Committee of Creditors (CoC), seeking directions to conduct an inter-se bidding/challenge mechanism before voting on resolution plans. Aakshaya Realty Private Limited (Intervenor) filed IP/32/2025 seeking intervention in IA/198/2025, adopting the position of the Resolution Professional and CoC.
Lok Housing and Constructions Limited was admitted into CIRP on 03.06.2019.
Mr. Hemant J. Mehta was appointed as the Interim Resolution Professional.
The suspended director of Lok Housing and Constructions Limited filed appeals against the admission order and the issue of Form G.
The CoC was constituted with members including State Bank of India, Homebuyers, Accel Realtors Private Limited, and USV Private Limited.
The RP issued a Request for Resolution Plan (RFRP) on 03.04.2024 and received resolution plans from Ashdan Properties Private Limited, Aakshaya Realty Private Limited, Ellora Buildcon Private Limited, and PSK Group.
Ashdan Properties Private Limited submitted its resolution plan and an addendum.
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Lok Housing and Constructions Limited was…
Mr. Hemant J. Mehta was…
The case involves two applications regarding the Corporate Insolvency Resolution Process (CIRP) of Lok Housing and Constructions Limited. Ashdan Properties Private Limited (Applicant) filed IA/198/2025 against the Resolution Professional and the Committee of Creditors (CoC), seeking directions to conduct an inter-se bidding/challenge mechanism before voting on resolution plans. Aakshaya Realty Private Limited (Intervenor) filed IP/32/2025 seeking intervention in IA/198/2025, adopting the position of the Resolution Professional and CoC.
Lok Housing and Constructions Limited was admitted into CIRP on 03.06.2019.
Mr. Hemant J. Mehta was appointed as the Interim Resolution Professional.
The suspended director of Lok Housing and Constructions Limited filed appeals against the admission order and the issue of Form G.
The CoC was constituted with members including State Bank of India, Homebuyers, Accel Realtors Private Limited, and USV Private Limited.
The RP issued a Request for Resolution Plan (RFRP) on 03.04.2024 and received resolution plans from Ashdan Properties Private Limited, Aakshaya Realty Private Limited, Ellora Buildcon Private Limited, and PSK Group.
Ashdan Properties Private Limited submitted its resolution plan and an addendum.
…Lok Housing and Constructions Limited was…
Mr. Hemant J. Mehta was…