MAPUSA
The promoters of Leading Hotels Ltd Tiracol golf course project, which was mired in controversy, have filed for bankruptcy.
In a public announcement, the Leading Hotels Ltd has issued a notice bringing to the attention of its creditors the decision to file for bankruptcy before the Insolvency and Bankruptcy Board of India.
According to the notice, the National Company Law Tribunal has ordered the commencement of the corporate insolvency resolution process of Leading Hotels Ltd last month.
Further, the creditors have been advised to submit their claims with proof before July 13 to Minni Katariya, the Interim Resolution Professional in New Delhi.
The insolvency resolution process closes on December 22 this year.
It may be recalled, the Tiracol golf course project was proposed by Leading Hotels Pvt Ltd in Tiracol village in Pernem.
The project was mired in controversy after 300 odd residents residing in the land bought by Leading Hotels Ltd claimed tenancy
rights and opposed it in the village.
The villagers took the hotel to court staking claim for their land rights. Leading Hotels, however, maintained that there were no tenants on the land it purchased from the landlord.
The villagers also challenged the Environment Clearance, and Coastal Regulation Zone clearance accorded to the project in December 2014.
The matter is still pending in the High Court.
