DSK Legal acts on Corporate Insolvency Resolution of Mayur Pankh Properties

The corporate insolvency resolution process of Mayur Pankh Properties Private Limited commenced on December 18, 2018, pursuant to the order of the NCLT, Mumbai Bench.

On May 17, 2023, the NCLT, Mumbai Bench has approved the resolution plan submitted by the consortium comprising of Yura Business Partners LLP & Gupta Steel Corporation Private Limited (Resolution Applicants”).

DSK Legal advised and assisted the Resolution Applicants in terms of structuring the transaction, payouts to creditors, drafting the resolution plan, and attending meetings of the committee of creditors. Post approval of the plan by the NCLT, the firm advised the Resolution Applicants with implementation of the Resolution Plan and successful takeover of Mayur Pankh Properties.

The team representing DSK Legal comprised Ajay Shaw (Partner), Ashish Pahariya (Partner), Anisha Kumar (Principal Associate) and Zaid Mansuri (Senior Associate). 

Varun Kalra (Associate) assisted with filing certain caveats in the NCLAT. 

Sajit Suvarna (Partner) and Viral Rathod (Principal Associate) advised on certain real estate aspects of the transaction.

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