Situation at the time R3 stepped in

• Resolution process was going on for more than 3 years under NCLT
• Diverse expectations of SFCs and inability to bring RA and CoC together on major aspects
• Company was on the verge of Liquidation as all creditors were exhausted with the efforts
• Home buyers contemplating legal fight for their rights

R3 Value Addition

• Brought together all the creditors as well as home buyers
• Assured fair treatment to home buyers in the Plan thus getting their approval
• Removed conditionality of the plan as RA agreed to take the risk - major relief for SFCs
• Successfully maintained RA's interest in spite of lengthy and difficult negotiations with CoC
• Increased plan amount substantially towards the end of the negotiation
• Plan addressed expectations of diverse set of lenders - PSU Banks, Pvt Banks, NBFCs, ARCs etc.

End Result

• CoC approved the plan with >97% approval now awaiting NCLT approval
• RA is confident of getting EC which is key to project revival hence revival is certain
• Company saved from Liquidation and consequent huge losses to the lenders