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Asian Hotels (West) to undergo insolvency proceedings
The Delhi bench of the National Company Law Tribunal admitted the company on September 16 and appointed Sapan Mohan Garg as an interim resolution professional, according to an order posted on its website. Yes Bank, the sole banker to the hotel, sold its entire ₹282 crore debt to JM Financial ARC at an uncontested Swiss auction held on June 20, said a person aware of the transaction.