{"id":35768,"date":"2022-04-12T21:13:57","date_gmt":"2022-04-12T15:43:57","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-nclt-mcdowell-holding\/"},"modified":"2022-04-12T22:17:57","modified_gmt":"2022-04-12T16:47:57","slug":"biz-nclt-mcdowell-holding","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-nclt-mcdowell-holding\/","title":{"rendered":"NCLT initiates insolvency proceedings against McDowell Holdings, appoints IRP"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2755050599\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Apr 12 (PTI) The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against McDowell Holdings Ltd and appointed an interim resolution professional.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-465740537\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The Bengaluru Bench of NCLT admitted the plea filed by Sun Star Hotels and Estate Pvt Ltd, a financial creditor of the erstwhile Vijay Mallya-promoted company, claiming a default of Rs 16.80 crore.<\/p>\n<p>The insolvency tribunal has also appointed KR Raju as the interim resolution professional of the company in its order passed on April 8, 2022.<\/p>\n<p>&#8220;In the present case, the occurrence of default is evidenced by the details furnished by the Petitioner, including the record of financial information issued by NESL (National E-Governance Services Ltd) in respect of the debt of the Corporate Debtor,&#8221; said the NCLT order.<\/p><div class=\"trade-content_5\" id=\"trade-3083659519\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Even McDowell Holdings has acknowledged the debt and its inability to pay the same, the tribunal observed. PTI KRH  BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-2208615983\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 12 (PTI) The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against McDowell Holdings Ltd and appointed an interim resolution professional. The Bengaluru Bench of NCLT admitted the plea filed by Sun Star Hotels and Estate Pvt Ltd, a financial creditor of the erstwhile Vijay Mallya-promoted company, claiming a default of [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-35768","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NCLT initiates insolvency proceedings against McDowell Holdings, appoints IRP - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-nclt-mcdowell-holding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCLT initiates insolvency proceedings against McDowell Holdings, appoints IRP\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Apr 12 (PTI) The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against McDowell Holdings Ltd and appointed an interim resolution professional. 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