Success Stories
Bhushan Energy – thermal power plant in Orissa
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Immediate clamp put on all leakage/siphoning
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Successful resolution – India’s largest steel manufacturer won the bid
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Bank balance multiplied 2500 times during CIRP period. CD had half the bid value in its bank account on the date of take-over by the successful bidder
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Minimal litigation in the CIRP
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Smooth transition and handover to new management
Emerald Lands - Luxury golf based real estate project – 300 acres – 500 units
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Golf course with 9 holes, revived and smoothly run by Resolution professional at a fractional cost compared to period before start of insolvency
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100% votes in favour of resolution plan, including home buyers
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Entire payment by resolution applicant made in one shot immediately after approval of the resolution plan
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Strong revival of the project envisaged with clear milestones for completion of project
North India’s largest resolution done as RP – Rs 1100+ crores recovery for lenders in the plan
Liquidations – successfully liquidated two companies so far, with excellent auction results and maximum possible recovery for creditors. Dissolved both companies (one filed for dissolution, other dissolved)