Asset Reconstruction Company (India) Limited Vs Harvest Hotels and Services Appartments Private limited (NCLT Delhi)
1. The Application (IA-5029 (PB)/2023) has been filed under Section 30(6) of the Insolvency & Bankruptcy Code, 2016, (the Code) read with regulation 39 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“CIRP Regulations”) also read with Rule 11 of the National Company Law Tribunal Rules (NCLT Rules) on behalf of the Resolution Professional (RP) (Mr. Shailendra Ajmera), seeking approval of the Resolution Plan submitted by M/s SERVEALL LAND DEVELOPERS PRIVATE LIMITED duly approved by the members of COC in its 15th meeting dated 29.08.2023 and voting conducted and concluded on 31.08.2023. Applicant/RP has prayed for the following reliefs:
a. Allow the present Application; and
b.Pass appropriate orders/directions approving the Resolution Plan as approved by the Committee of Creditors following its 15th meeting; and
c. Pass appropriate orders/directions grant such reliefs and concessions- sought by the Successful Resolution Applicant in the resolution plan approved by the Committee of Creditors, as this Hon’ble Tribunal may deem fit and proper in the interest of justice and equity; and/or
d. Pass any such other order(s) as this Hon’ble Tribunal may deem fit and proper in the interest of justice and equity.
2. The Company Petition CP (IB) No.144(PB)/2022 filed by Financial Creditor Asset Reconstruction Company (India) Limited under Section 7 of the Code for initiating of Corporate Insolvency Resolution Process (“CIRP”) of the Corporate Debtor was admitted by this Adjudicating Authority vide its order dated 07.10.2022 (“Admission Order”) and Mr. Shailendra Ajmera (IBBI Reg. No. IBBI/IPA-001/IP-P00304/2017-18/10568 was appointed as IRP.
