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Form I : Detail of Corporate Debtor Undergoing Insolvency Resolution Process
(To be submitted by the
IRP/RP
with
Seven Days
of his demitting office as IRP/RP)
Name of Corporate Debtor:
Lavasa Corporation Limited
CIN of Corporate Debtor:
U74999MH1992PLC284457
Date of Commencement of CIRP:
30-08-2018
Assets(in Rs) as on the last balance sheet date (write date here):
39749148000.00
31-03-2020
Turnover(in Rs) in the last finacial year (write year here):
0
2019-20
No. of Workmen as on the date of commencement of CIRP:
0
No. of Employees as on the date of Commencement of CIRP:
44
Number of Claimants(Workmen & Employees):
178
Total Amount(in Rs) of Claims Admitted on the day of demitting office as IRP(Workmen & Employees):
49000000.00
Number of Claimants(Financial Creditor):
1110
Total Amount(in Rs) of Claims Admitted on the day of demitting office as IRP(Financial Creditor):
58000000000.00
Number of Claimants(Operational Creditor):
383
Total Amount(in Rs) of Claims Admitted on the day of demitting office as IRP(Operational Creditor):
551800000.00
Name of RP:
Registration No. of RP:
Date of Demitting office by RP:
21-07-2023
Form III : Detail of Corporate Debtor Undergoing Insolvency Resolution Process
(To be submitted by the
RP
with
Seven Days
of his demitting office as IRP/RP)
Date of Joining as RP:
15-10-2018
Date of Demitting officer as RP:
21-07-2023
Activity/ Expense Head / Expense Sub-Head
Amount of Expense (Rs.)
Amount Retified/ Approved
2
By CoC
% of expense cost/ Total Cost
% of Specific Ratified Cost / Total Ratified Cost
Running Process / RP
Fee Payable to RP
6726000.00
6726000.00
0.32
0.59
Cost of Insurance for RP
3540000.00
3540000.00
0.17
0.31
Other Expenses on/ for RP
(Travel, stay, security, etc related to)
5862333.00
5862333.00
0.28
0.51
Fee payable for support services to an IPE, if Any
240832307.00
240832307.00
11.55
20.99
Running Process / Registered Valuer
Fee Payable to Valuer 1
5937511.00
5937511.00
0.28
0.52
Fee Payable to Valuer 2
4693474.00
4693474.00
0.23
0.41
Fee Payable to Valuer 3, if any
1519250.00
1519250.00
0.07
0.13
Fee Payable for support services to an IPE, if any
0.00
0.00
0.00
0.00
Running Process / Other Professional engaged for CIRP, not for Corporate Debtor
Fee Payable to Accounting and Finance Professionals
590000.00
590000.00
0.03
0.05
Fee Payable to audit professionals
12574914.00
12574914.00
0.60
1.10
Fee Payable to Legal Professional
185896616.00
185896616.00
8.92
16.20
Fee Payable to any other professionals other Expenses on/ for Professionals
(Travel, stay, other out-of-expenses)
17139652.00
17139652.00
0.82
1.49
Data Room Service
5361806.00
5361806.00
0.26
0.47
Running Process / COC Meeting
Meeting Venue
2323020.00
2323020.00
0.11
0.20
Video Conferencing
96170.00
96170.00
0.00
0.01
Electronic Voting
1057280.00
1057280.00
0.05
0.09
Expenses for or by Authorized
1618204.00
1618204.00
0.08
0.14
Any other Expenses related to CoC
292343.00
292343.00
0.01
0.03
Running Process / Examination of Transactions
Preferential Transactions
1417556.00
1417556.00
0.07
0.12
Under/ Over-valued transactions
0.00
0.00
0.00
0.00
Extortionate transactions
0.00
0.00
0.00
0.00
Fraudulent Transactions
0.00
0.00
0.00
0.00
Running Process / Other Expenses
Expenses on CIRP related
33256.00
0.00
0.00
0.00
Filings before adjudicating
0.00
0.00
0.00
0.00
CIRP Related Litigation
0.00
0.00
0.00
0.00
Running Business / Essential Services
Electricity
291252866.00
0.00
13.97
0.00
Water
49907913.00
0.00
2.39
0.00
Telecommunication Services
5686099.00
0.00
0.27
0.00
Information Technology Services
5783130.00
0.00
0.28
0.00
Other Essential Services, if Any
148151293.00
0.00
7.11
0.00
Running Business / Other Services
Other Supplies
59709060.00
0.00
2.86
0.00
Employess and Workmen
230778672.00
0.00
11.07
0.00
Security Personnel Services
124820763.00
0.00
5.99
0.00
Other Expenses, If any
0.00
0.00
0.00
0.00
Running Business / Interim Finance
Amount of Interim Finance
469830276.00
469830276.00
22.54
40.95
Expenses for raising Interim Finance
1681960.00
1681960.00
0.08
0.15
Interest payable on Interim Finance
177271060.00
177271060.00
8.50
15.45
Other Expenses, If any directly related to
6697.00
0.00
0.00
0.00
Other Expenses, if any, directly related to CIRP
Other Expenses
22148158.00
960720.00
1.06
0.08
Amount due to prejudicially affected persons
Other Expenses
0.00
0.00
0.00
0.00
Remarks:
Expenses incurred during IRP period with Taxes not taken as cost in form III. Fees for Re valuation of Deconsma, Ivas Partners included in other professional fees. Since the Gratuity is governed by "Payment of Gratuity Act, 1972". Gratuity payment to employees having uninterrupted services need to be paid on superannuation/Retirement or Resignation/Death or disablement due to accident or disease, as per Payment of Gratuity Act, 1972. Employees’ services were not terminated, and no re-appointment letters were issued. It is indeed a continuing service. Current employees have also not included their gratuity in their previous dues claims which would have otherwise accrued. Looking to above gratuity was not taken in CIRP cost and it is assumed that it has to bear by RA as and when the services will be terminated. In case of employees separated during CIRP their Gratuity shown in Full and Final workings. In case of Leave encashment, leaves utilized and encashed during CIRP period has already been included in salary working and paid. Outstanding leaves of employees to be taken care by RA and encashed at the time of termination and completion of services, hence no provision on the same has been included in CIRP cost.In case of employees separated during CIRP their Leave Encashment shown in Full and Final workings as outstanding amount to be paid.
Total Cost
2084539639.00
1147222452.00
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