{"id":295740,"date":"2023-07-01T13:00:51","date_gmt":"2023-07-01T07:30:51","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=295740"},"modified":"2023-07-01T12:42:25","modified_gmt":"2023-07-01T07:12:25","slug":"dsk-legal-advises-resolution-professional-of-ds-kulkarni-developers-ltd-with-respect-to-its-corporate-insolvency-resolution-process","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/01\/dsk-legal-advises-resolution-professional-of-ds-kulkarni-developers-ltd-with-respect-to-its-corporate-insolvency-resolution-process\/","title":{"rendered":"DSK Legal advises Resolution Professional of DS Kulkarni Developers Ltd. with respect to its Corporate Insolvency Resolution Process"},"content":{"rendered":"
\n

DSK advised and assisted Mr. Manoj Kumar Agarwal, Resolution Professional of DS Kulkarni Developers Limited (“DSKDL<\/span>”) with respect to the corporate insolvency resolution process of DSKDL as per the provisions of the Insolvency and Bankruptcy Code, 2016<\/a>. From the year 2000 onwards, DSKDL has completed nearly 26 projects which include high-end residential apartments, mid-segment apartments, affordable housing projects and commercial projects. Some of the prestigious completed projects include DSK Hariyali (Shivaji Nagar, Pune), DSK Chandradeep, DSK Chintamani (Appa Balvant Chowk, Pune), DSK Raanwara (Bavdhan, Pune), DSK Akashganga (Aundh, Pune), DSK Vishwa (Phase I to VI), DSK Frangipani (Sadhu Vaswani Chowk, Pune), DSK Madhuban (Andheri East – Mumbai), DSK Sunderban (Hadapsar, Pune), DSK Garden Enclave (Kondhwa, Pune) and DSK Gandhakosh (Baner, Pune).<\/p>\n

The corporate insolvency resolution process of DSKDL commenced on September 26, 2019, pursuant to the order of the Hon’ble National Company Law Tribunal, Mumbai Bench in the matter of Bank of Maharashtra<\/i> v. DS Kulkarni Developers Limited<\/i> and Mr. Agarwal was appointed as the resolution professional for DSKDL. On June 23, 2023, the NCLT, Mumbai Bench approved the resolution plan submitted by the consortium of Ashdan Properties Pvt Ltd, Classic Promoters and Builders Pvt Ltd, and Atul Builders for DS Kulkarni Developers Limited for an amount of Rs. 1080 crore.<\/p>\n

We have advised the resolution professional right from the commencement of CIRP till the final approval of the resolution plan. Given that the CIRP has been ongoing for nearly 4 years, there have been changes to the legislation, judicial precedents and various litigations that have arisen in the course of CIRP and we have been able to safeguard the interests of the resolution professional while ensuring value maximisation for DSKDL. We have provided innovative solutions to various complex issues which were faced during the CIRP which had a significant impact on the resolution process. The deal value is approximately Rs. 1080 Crores.<\/p>\n

The team representing DSK Legal comprised of Mr. Ajay Shaw (Partner), Mr. Nirav Shah, Mr. Ashish Pahariya (Partner), Ms. Anisha Kumar (Principal Associate)<\/span> and Mr. Jash Shah (Senior Associate)<\/span>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

DSK advised and assisted Mr. Manoj Kumar Agarwal, Resolution Professional of DS Kulkarni Developers Limited (“DSKDL”) with respect to the corporate insolvency <\/p>\n","protected":false},"author":8808,"featured_media":295759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45282,2],"tags":[22814,22064,49835,56895],"class_list":["post-295740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-firms-news","category-news","tag-corporate-insolvency-resolution-process","tag-insolvency-and-bankruptcy-code","tag-law-firm-news","tag-legal-advises"],"yoast_head":"\nDSK Legal advises Resolution Professional of DS Kulkarni Developers Ltd. with respect to its Corporate Insolvency Resolution Process | SCC Times<\/title>\n<meta name=\"description\" content=\"DSK advised and assisted Mr. Manoj Kumar Agarwal, Resolution 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The corporate insolvency resolution process of JBF commenced on January 2, 2022, pursuant to the order of the Hon\u2019ble National Company Law Tribunal, Mumbai\u2026","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"jbf petrochemicals ltd","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/jbf-petrochemicals-ltd.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/jbf-petrochemicals-ltd.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/jbf-petrochemicals-ltd.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/jbf-petrochemicals-ltd.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":251773,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/27\/personal-guarantor\/","url_meta":{"origin":295740,"position":1},"title":"NCLT | Personal Guarantor not liable to be prosecuted under S. 95 IBC where corporate debtor concerned is not under corporate insolvency resolution process","author":"Bhumika Indulia","date":"July 27, 2021","format":false,"excerpt":"National Company Law Tribunal, Mumbai:\u00a0Coram of H.V. Subba Rao, Judicial Member and Chandra Bhan Singh, Technical Member dismissed an interlocutory application filed against a personal guarantor under Section 95 (\"application by creditor to initiate insolvency resolution process\") of the Insolvency and Bankruptcy Code, 2016, finding that the Corporate Debtor concerned\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":289950,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/04\/18\/dsk-legal-advises-srl-limited-in-relation-to-acquisition-of-the-business-of-m-s-lifeline-laboratories\/","url_meta":{"origin":295740,"position":2},"title":"DSK Legal advises SRL Limited in relation to acquisition of M\/s Lifeline Laboratories","author":"Bhumika Indulia","date":"April 18, 2023","format":false,"excerpt":"DSK Legal advised SRL Limited, a subsidiary of Fortis Healthcare Limited, in relation to acquisition of the business of M\/s Lifeline Laboratories (\u201cTarget\u201d), to expand SRL\u2019s footprint in Delhi NCR region in the diagnostic services domain. The Target is engaged in the business of providing diagnostic services with its operations\u2026","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/dsk-legal-advises-srl-limited-in-relation-to-acquisition-of-the-business-of-ms-lifeline-laboratories.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/dsk-legal-advises-srl-limited-in-relation-to-acquisition-of-the-business-of-ms-lifeline-laboratories.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/dsk-legal-advises-srl-limited-in-relation-to-acquisition-of-the-business-of-ms-lifeline-laboratories.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/dsk-legal-advises-srl-limited-in-relation-to-acquisition-of-the-business-of-ms-lifeline-laboratories.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":293909,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/06\/06\/anand-desai-managing-partner-dsk-legal-appointed-as-a-member-of-the-court-at-london-court-of-international-arbitration\/","url_meta":{"origin":295740,"position":3},"title":"Anand Desai, Managing Partner, DSK Legal appointed as a member of the court at London Court of International Arbitration","author":"Bhumika Indulia","date":"June 6, 2023","format":false,"excerpt":"DSK Legal is delighted to share that our Managing Partner, Mr. Anand Desai, has been appointed as a member of the Court at the London Court of International Arbitration (LCIA) for a five year term. The LCIA is one of the world\u2019s leading international institutions for commercial dispute resolution. It\u2026","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"anand desai","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/anand-desai-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/anand-desai-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/anand-desai-1.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/anand-desai-1.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":297189,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/19\/dsk-legal-advises-appcino-technologies-private-limited-in-relation-to-sale-and-purchase-of-the-promoter-groups-equity-shares\/","url_meta":{"origin":295740,"position":4},"title":"DSK Legal advises Appcino Technologies Private Limited in relation to sale and purchase of the Promoter Group\u2019s equity shares","author":"Bhumika Indulia","date":"July 19, 2023","format":false,"excerpt":"DSK Legal represented and advised Appcino Technologies Private Limited (\u201cCompany\u201d) and its Promoter Group in relation to the sale and purchase of the Promoter Group\u2019s equity shares culminating to 100% acquisition of the Company by Xebia India Holding B.V. (\u201cAcquirer\u201d), based in the Netherlands. The Company is a software consulting\u2026","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"appcino technologies private limited","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/appcino-technologies-private-limited.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/appcino-technologies-private-limited.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/appcino-technologies-private-limited.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/appcino-technologies-private-limited.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":210477,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/02\/21\/nclt-article-137-of-limitation-act-not-applicable-to-insolvency-application-under-s-7-ibc-where-corporate-debtor-acknowledges-debt-in-its-balance-sheet\/","url_meta":{"origin":295740,"position":5},"title":"NCLT | Article 137 of Limitation Act not applicable to insolvency application under S.7 IBC where corporate debtor acknowledges debt in its balance sheet","author":"Bhumika Indulia","date":"February 21, 2019","format":false,"excerpt":"National Company Law Tribunal, Mumbai:\u00a0The Bench of Bhaskara Pantula Mohan, Member (Judicial) and V. Nallasenapathy, Member (Technical) allowed a petition filed by TJSB Sahakari Bank (\"the Bank)\u00a0for admission of an application\u00a0under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy (Application\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/295740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=295740"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/295740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/295759"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=295740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=295740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=295740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}