Khaitan & Co assists DS Group in implementation of Resolution Plan for Viceroy Bangalore Hotels

Dharampal Satyapal Limited (DS Group) has implemented the Resolution Plan for Viceroy Bangalore Hotels Private Limited, which was undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.

The resolution plan involved payment of approximately ₹300 crores to the creditors of Viceroy Bangalore Hotels Private Limited along with extinguishment of pre-cirp equity and issuance of fresh equity shares.

Khaitan & Co acted as legal counsel for DS Group. The primary role of the Firm involved implementation of the Resolution Plan, drafting of transaction related documents, delisting and advise on corporate compliances for implementation of the Resolution Plan.

The core team consisted of Siddharth Srivastava (Partner, Banking, Finance, Restructuring & Insolvency), Mohit Kishore (Counsel), Udita Singh (Senior Associate), Shikha Mohini (Associate).

The general corporate aspect was led by Pashupati Nath (Partner, Corporate & Commercial), Abhiroop De (Principal Associate) and Sakshi Duggal (Associate)

The tax aspect was led by Vinita Krishnan (Director, Direct Tax), Rohit Jain (Principal Associate) and Sambhav Mama (Senior Associate).

Mahender Khandelwal, Founder, Varrenyam Consultants Private Limited, acted as the financial advisor of the DS Group.

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