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NCLT approves Chemhub's resolution plan for Pancard Clubs

Chemhub Tradelink s plan for Pancard Clubs, approved by NCLT, involves Rs 8,900 crore debt claims with 8% recovery for creditors. The resolution process included bidders like Ashdan Properties and Vijay K. Oswal, with oversight from Deloitte and representation by Nausher Kohli. ....

Nausher Kohli , Rajesh Sureshchandra Sheth , Chemhub Tradelink , Madan Vaishnava , Vijayk Oswal , Ashdan Properties , National Company Law Tribunal , Pancard Clubs , Sureshchandra Sheth , Corporate Insolvency Resolution Process , Resolution Plan , Debt Claims ,

Pancard Clubs: NCLT dismisses plea against Pancard Clubs resolution plan

The National Company Law Tribunal (NCLT) dismissed Ashdan Properties petition against Chemhub Tradelink s approved resolution plan for Pancard Clubs, a bankrupt entity with over 1.5 million timeshare subscribers. Ashdan was one of three bidders interested in acquiring Pancard. ....

Vitthal Dahake , Chemhub Tradelink , Rajesh Sureshchandra Sheth , National Company Law Tribunal , Ashdan Properties , Bankruptcy Board , Pancard Clubs ,

Financial Frauds Caught in a Farcical Recovery Process: Sahara, Pancard & PACL

The manner in which the Indian government, across political formations, deals with large financial frauds is a wonderland that would stump Lewis Carroll himself. Take the example of Sahara and Pancard Club or even PACL. After the death of Sahara founder Subrata Roy on 14th November, the government has quickly begun to explore the possibility of transferring funds with the market regulator to the Consolidated Fund of India (CFI). ....

Kantadevi Oswal , Sudhir Moravekar , Subrata Roy , Lewis Carroll , Vijay Oswal , Supreme Court Directs , Sahara Cooperative Society , Fund Of India , Securities Exchange Board Of India , Pancard Club , Ltda Ponzi , Pancard Clubs Limited , Moneylife Foundation , Confusing Supreme Court Order , Ashdan Properties , Supreme Court , Pancard Clubs Ltd , Pan Card Club , Consolidated Fund , Exchange Board , Duped Investors , Regulatory Failure , Sahara Refunds , Silent Regulator , Sahara To Respond , Interim Applications Filed ,

Pancard Clubs gets three firm offers for Rs 5,034-crore debt, Real Estate News, ET RealEstate

Pancard Clubs: The company, which develops and operates hotels and resorts, is undergoing an in-court resolution process and more than 1.5 million financial creditors (timeshare subscribers) will be voting on these plans in the next couple of days to decide the successful resolution applicant. ....

Pancard Clubs , Ashdan Properties , Shanti Hospitality , Chemhub Tradelink ,