About the Company
The company faced liquidity issues due to delays in receipt of statutory approvals, legal issues with regards to the classification of and end use of the land, high cost borrowings, delayed implementation.
Industry Focus
Real estate
Construction
Timeline
2020
- Successful approval of Resolution Plan
2018
- IBC proceedings against company and appointments of InCorp IBC expert as RP
2016
- Liquidity issues emerge and work is halted
2013
- Resolution of legal case
- Start of work at site
2008
- Legal case with regard to end use of land
What was the client’s long-term vision?
- To generate liquidity to fund the project implementation.
- Protect the interests of all stakeholders to find a successful resolution plan
How did InCorp turn the client’s Vision to Reality
| Client’s Main Challenges | With InCorp |
|---|---|
| No developers showing interest in the takeover of the project. | Identifying potential developers and showcasing the project viability to generate interest and onboard bids. |
| Lenders and home buyers demand on the project. | Systematically managed and protected the interests of all stakeholders to find a successful resolution plan. |
| Project getting stuck due to liquidity issues. | Assisted in highlighting the viability and providing information to the interested developers to prepare a thorough Resolution plan to turnaround the stressed project. |
We are glad we got in touch with InCorp Advisory. We appreciate InCorps special attention towards helping us systematically manage and protect the interest of our stakeholders to find a successful resolution plan. During this association what seemed very tedious and complex was easily changed to seamless and uncomplicated. This helped us create a powerful and dependable relationship with InCorp Advisory.
– Director
