Omkara Asset Reconstruction Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Gstaad Hotels Private Limited. The petition was initially admitted, but the admission order was set aside by NCLAT. The matter was remanded back to the Tribunal for fresh consideration.
A Company Petition C.P. (IB) No. 291/2023 was filed on 09.03.2023 under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Omkara Assets Reconstruction Private Limited.
The Financial Creditor sought to initiate Corporate Insolvency Resolution Process (“CIRP”) against Gstaad Hotels Private Limited.
The Corporate Debtor was granted a term loan of Rs. 450.00 Crores and a Rolling Credit Facility (“RCF”) of Rs. 50.00 Crores.
The Corporate Debtor, on 15.11.2022, defaulted in favor of the ECLGS Facility-1 and ECLGS Facility-2.
The Petitioner claimed a default of total amount of Rs. 665,74,77,237/- as on 27.02.2023 in the Part IV of the Petition.
The Hon'ble NCLAT in its Order dated 8.1.2025 set aside the Order dated 09.01.2024 passed by this Tribunal earlier.
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Company Petition C.P.…
Tribunal admit…
Omkara Asset Reconstruction Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Gstaad Hotels Private Limited. The petition was initially admitted, but the admission order was set aside by NCLAT. The matter was remanded back to the Tribunal for fresh consideration.
A Company Petition C.P. (IB) No. 291/2023 was filed on 09.03.2023 under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Omkara Assets Reconstruction Private Limited.
The Financial Creditor sought to initiate Corporate Insolvency Resolution Process (“CIRP”) against Gstaad Hotels Private Limited.
The Corporate Debtor was granted a term loan of Rs. 450.00 Crores and a Rolling Credit Facility (“RCF”) of Rs. 50.00 Crores.
The Corporate Debtor, on 15.11.2022, defaulted in favor of the ECLGS Facility-1 and ECLGS Facility-2.
The Petitioner claimed a default of total amount of Rs. 665,74,77,237/- as on 27.02.2023 in the Part IV of the Petition.
The Hon'ble NCLAT in its Order dated 8.1.2025 set aside the Order dated 09.01.2024 passed by this Tribunal earlier.
…Company Petition C.P.…
Tribunal admit…