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V HOTELS BANKRUPTCY
Land crunch, competition drive strategic acquisitions via bankruptcy processCompanies are using the Insolvency and Bankruptcy Code to acquire prime urban land in India. This process offers clear titles and approvals...- ED restores ₹520.8 crore assets to Macrotech after SC order in Cox & Kings fraud caseAssets worth over Rs 520 crore attached in a bank-loan fraud case involving Cox & Kings Limited have been restored. The Enforcement Directo...
- SC orders ED to release V Hotels assets to Lodha DevelopersThe Supreme Court ordered the Enforcement Directorate to release ₹4,000 crore worth of V Hotels Ltd properties, including Mumbai's Centaur ...
- Lodha Developers to deposit Rs 520 crore as security in legal case against group firm VHLLodha Developers has been directed by the Supreme Court to deposit Rs 520.80 crore as security in a case involving V Hotels, acquired throu...
- SC asks Lodha Developers to deposit Rs 520.8 cr for vacation of ED attachment on Tulip Star Hotel propertiesThe Supreme Court has instructed Lodha Developers to deposit ₹520.8 crore. This order relates to the Enforcement Directorate's attachment o...
- NCLT okays Leo Meridian Infrastructure Projects’ acquisition by Jalavihar Entertainment ConsortiumThe Hyderabad bench of NCLT approved JEPL's acquisition of Leo Meridian Infrastructure Projects & Hotels Ltd, which owns Leonia Resorts, fo...
- NCLT OKs Macrotech Developers' acquisition of Centaur Hotel owner’s V HotelsLodha Group-owned Macrotech Developers is paying around Rs 890 crore to acquire the hotel property in Juhu, an affluent suburb in western M...
- NCLT rejects resolution plan for Cambay Hotels operator“The resolution plan approved by CoC (committee of creditors) has not been done with a process that can be approved by this adjudicating au...
- Pancard Clubs gets three firm offers for ₹5,034-cr debtThe company, which develops and operates hotels and resorts, is undergoing an in-court resolution process and more than 1.5 million financi...
- Nitin Desai was facing financial strain, defaulted on Rs 252 cr loan; insolvency proceedings initiated against art director's company last weekDesai, through his company ND's Art World Pvt Ltd, had borrowed Rs 185 crore in the form of two loans from ECL Finance in 2016 and 2018. He...
- Macrotech Developers emerges top bidder for Mumbai-based V HotelsThe Committee of Creditors (CoC) of bankrupt V Hotels has declared the real estate developer as the successful resolution applicant in rela...
- Bankrupt hotel assets big draw with investorsSome such prominent properties under the hammer, such as the Westin Kolkata Rajarhat, have drawn interest from several bidders.
- NCLT allows RP to resume V Hotels insolvency processThe Mumbai bench of the National Company Law Tribunal (NCLT) has also permitted the resolution professional to recalculate the fair value a...
- Supreme Court rules in favour of ARCIL in Tulip Star Hotels bankruptcy caseThe appellate tribunal had accepted the hotel operator’s claim that the ARC filed its case against the company under the Insolvency and Ban...
- NCLAT stays order of NCLT against Appu HotelsOriginally, on an application from Tourism Finance Corporation of India, the corporate creditor, under Sec.7 of the Insolvency and Bankrupt...
- RBI norms may exclude large number of companies from loan recast schemeBankers said corporates that have been lax in repayments before March 2020 will not qualify for restructuring even if they are not non-perf...
- NCLT admits insolvency plea against Genesis ResortsThe division bench of judicial member Bhaskara Pantula Mohan and technical member Rajesh Sharma restrained the company and its promoters fr...
- Manor Floatel Hotel taken to NCLT for loan defaultIDBI Bank dragged the company to the National Company Law Tribunal as it failed to repay more than Rs 32 crore loans taken to set up a floa...
- Floatel on Ganga sinks into insolvencyIDBI Bank dragged the company to the National Company Law Tribunal as it failed to repay more than Rs 32 crore loans taken to set up a floa...
- NCLT: Government must focus on creating infrastructure and make the tribunal self-sufficientWith numbers stacked up against the quick disposal of cases, the very purpose for which it was created, is the NCLT model set to fail?
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