JAMES HOTELS LTD. - Updates

This is to inform that Punjab National Bank, the lending bank had filed an application under Section 7 of Insolvency and Bankruptcy Code, 2016 against the Company with Hon'ble National Company Law Tribunal on dated 07.04.2017 for initiation of the Insolvency Proceedings. The Hon'ble NCLT finally decided the case on 27.04.2017 in favour of the Bank and admitted the Bank Petition. Hon'ble NCLT vide its Order dated 08.05.2017 appointed Mr. Navneet Gupta, CA as the Insolvency Resolution Professional. The appointee Mr. Navneet Gupta, CA has joined as IRP on 10.05.2017.