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The NCLT allowed it to participate and submit the Resolution Plan to maximise its value. However, it said this opportunity shall be subject to compliance with the provisions contained in CIRP regulations. However, as there was a contradiction in the NCLT order on the one hand, it allowed submission of the resolution plan by JPL for maximisation, but on the other hand, it sought compliance with the CIRP Regulations, and the RP requested clarification from the tribunal.

The public sector lender contended for maximisation of the assets and submitted if a fresh process and fresh valuation were done, Lavasa Corporation would achieve more value.

Asian Hotels (West) has availed of term loans in different tranches totalling Rs 200 crore from YES Bank. It served its all financial obligations to Yes Bank till March 31, 2021.

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Jindal Power wanted to be considered as an applicant for the acquisition of insolvent Tuticorin Coal Terminal Pvt Ltd. The NCLT had allowed Jindal Power to participate in resolution process only if its name appeared in final list of Prospective Resolution Applicants (PRA) prepared by the Committee of Creditors (CoC).