Dear Members,

Please be informed that the Resolution Professional received 2 Resolution Plans till 14.02.2021 i.e the last date for the submission of Resolution Plan from the following applicants:

1. PSL Infratech Private lImited
2. Victory Ace Social Welfare Society

That in order to maintain transparency the above mentioned Resolution Plans were opened in the presence of

1. Authorised Representatives of Financial Creditor of both classes namely (Homebuyers- First Sale and Homebuyers - Having Builder Buyer Agreement for flats already to be sold earlier),
2. Representative of 3 Financial Creditors namely: Moneywise Financial Services Private Limited, Star Maxx Properties and UCO Bank Private Limited on 16.02.2021at C-10, LGF, Lajpat Nagar- III, New Delhi-110024

Dear Creditors,

Please be informed that the Hon'ble NCLT vide it's order dated 27.01.2021 has granted 60 days exclusion from the CIRP period from 10.01.2021. Thereby extending the CIRP period of the Corporate Debtor till 11.03.2021. Copy of all the orders pertaining to M/s Dream Procon Private limited can be accessed from the CIRP website by clicking here.

Please be informed that till 07.01.2021 i.e. the last date for submission of Expression of Interests (EOIs), the Resolution Professional has received EOIs from 6 Prospective Resolution Applicants (PRAs). The provisional List will be issued on 13.01.2021.

Dear Financial Creditors, Hon'ble NCLT, Delhi has vide order dated 16.10.2020 allowed exclusion of 129 days' period (i.e. the period from 25th of March, 2020 till 31st of July, 2020) from the maximum period of 330 days of CIRP. As a result, the CIRP period stands extended till 14th of January, 2021.

Please be informed that Resolution Professional received 2 Resolution Plans till 20.10.2020 i.e. the last date for submission of Resolution Plans, from the following Resolution Applicants:

1. PSL Infratech Private Limited

2. Consortium lead by SMV Agencies

That in order to maintain transparency, the above mentioned plans were opened in the presence of Authorised Representative of both the classes and 2 financial creditors in class on 21.10.2020 at the office of Witworth Insolvency Professionals Private Limited at D-54, First floor, Defence colony, New Delhi.

Kindly further note that Earnest money deposit of Rs. 1,00,00,000/- (Rupees One Crores) were submitted by PSL Infratech Private Limited via RTGS in the bank of Corporate Debtor.

That the consortium lead by SMV Agencies in the covering letter of their Resolution Plan stated earnest deposit money is enclosed herewith, however the same could not be found by the Resolution Professional, there by a mail seeking clarification regarding the Earnest deposit money has been sent to them.

All stakeholders are requested to kindly note the following important updates:

1. Sixth CoC is being planned for 29th September 2020 at 4 PM. Notice for the COC with the detailed agenda shall be circulated to all stakeholders before the meeting.

2. Provisional list was issued on 3rd September 2020 and final list of PRAs was issued on 11th September 2020.

3. Financial creditors in class (having builder buyer agreement for flats already agreed to be sold earlier) has been recognised by the Hon'ble NCLT, subsequently Dharmendra Kumar was appointed as the Authorization Representative of the said class vide order dated 18th September 2020.

4. PMC reports has been submitted by M/s Newtime contractor and builders and the same was shared with those who furnished the Confidentiality Undertaking.

5. Transaction Audit report has been submitted by M/s S.P.Chopra & Co.

6. Valuation reports from all six Valuers has been received by the RP.

All stakeholders are requested to kindly note the following important updates:

1.CoC is being planned for 12th June 2020. Notice for the COC the detailed agenda shall be circulated to all stakeholders at least 48 hours before the meeting.

2. Provsional list of eligible resolution applicants has been shared with all stakeholders, including the authorised representative of homebuyers, who will circulate the same further.

All concerned stakeholders are requested to address any communication intended for the resolution professional to [email protected]. Kindly note that the email ID being used by IRP, namely [email protected] is no longer being monitored by the resolution professional.

Updates:

(a) Claim list is being updated to include claims received/admitted after 3rd CoC. Updated list with flat nos. and booking dates of homebuyers to be published soon.

(b) Accountant has started preparation of financial statements of the company for the unaudited period.

(c) PMC team has initiated assessment of physical status of the project site. Interim report is expected within 10 days .

(d) Invitation for expression of interest (EOI) published in Form G. Last date of submission of EOI on 22.03.2020.

https://dreamprocon.cirp.io/ will be our new official website. Checkout various sections for up to date information