{"id":54724,"date":"2026-02-05T07:20:34","date_gmt":"2026-02-05T07:20:34","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=legal_developments&p=54724"},"modified":"2026-02-05T07:20:34","modified_gmt":"2026-02-05T07:20:34","slug":"juris-corp-successfully-represented-and-advised-the-committee-of-creditors-in-the-corporate-insolvency-resolution-process-of-sevenhills-healthcare-pvt","status":"publish","type":"legal_developments","link":"https:\/\/my.legal500.com\/developments\/thought-leadership\/juris-corp-successfully-represented-and-advised-the-committee-of-creditors-in-the-corporate-insolvency-resolution-process-of-sevenhills-healthcare-pvt\/","title":{"rendered":"Juris Corp\u202fsuccessfully represented and advised the\u202fCommittee of Creditors\u202fin the Corporate Insolvency Resolution Process of\u202fSevenhills\u202fHealthcare\u202fPvt.\u202fLtd."},"content":{"rendered":"

Deal Summary & Significance: <\/strong><\/p>\n

SevenHills Healthcare Pvt. Ltd. (\u201cCD\u201d) was admitted into the Corporate Insolvency Resolution Process (\u201cCIRP\u201d) on 13th<\/sup> March 2018 upon an application filed by Axis Bank. The CD owned two key healthcare assets:<\/strong><\/p>\n

<\/p>\n

i) SevenHills Hospital, Mumbai (\u201cMumbai Hospital<\/strong>\u201d), and<\/p>\n

ii) SevenHills Hospital, Visakhapatnam (\u201cVizag Hospital<\/strong>\u201d).<\/p>\n

The initial resolution plan submitted by Dr. B.R. Shetty through Shetty\u2019s New Medical Centre Pvt. Ltd. (\u201cSNMC Resolution Plan<\/strong>\u201d) was challenged by the Municipal Corporation of Greater Mumbai (\u201cMCGM<\/strong>\u201d) up to the Hon\u2019ble Supreme Court of India (\u201cSupreme Court<\/strong>\u201d), since the Mumbai Hospital of the CD stands on land owned by MCGM. Supreme Court allowed MCGM\u2019s appeal and rejected the SNMC Resolution Plan, holding that the mandatory No Objection Certificate (NOC) under the Mumbai Municipal Corporation Act, 1888 (\u201cMMC Act<\/strong>\u201d) had not been obtained prior to the creation of security interest over land owned by MCGM.<\/p>\n

In 2020, amid the unprecedented Covid\u201119 pandemic, MCGM requisitioned the Mumbai Hospital as a dedicated Covid facility under the Disaster Management Act, 2005. The requisition and the wider public health emergency led to repeated extensions of the CIRP timeline, significantly delaying progress.<\/p>\n

Despite these delays, the CIRP continued to move forward. The Committee of Creditors (\u201cCoC<\/strong>\u201d) resolved to issue a fresh Invitation for Expression of Interest (\u201cEoI<\/strong>\u201d) for asset\u2011wise CIRP under Regulation 36B(6A) of the CIRP Regulations, a provision that enables inviting asset\u2011specific resolution plans when no feasible plan is received for the corporate debtor as a whole.<\/p>\n

As the process advanced, MCGM initiated parallel litigation seeking to exclude the Mumbai Hospital from the CD\u2019s asset pool. During this period, multiple proceedings were also undertaken to secure MCGM\u2019s cooperation and prevent termination of the subsisting agreement between the parties.<\/p>\n

Amidst these challenges, a fresh process was initiated inviting resolution plans under two separate categories:<\/p>\n

i) Category 1: Vizag Hospital; and<\/p>\n

ii) Category 2: Mumbai Hospital together with the CD as a going concern.<\/p>\n

In June 2024, the Adjudicating Authority (\u201cAA<\/strong>\u201d) approved the resolution plan for Category 1 and dismissed MCGM\u2019s objections to the plan.<\/p>\n

In December 2025, MCGM granted the requisite NOC to the resolution plan submitted by Capri Global Holdings Private Limited for Category 2. The plan subsequently received 100% approval from the CoC and was approved by the AA on 19th<\/sup> February 2026.<\/p>\n

In a healthcare\u2011focused CIRP shaped by multiple disputes, extensive litigation, and pandemic\u2011related disruption, Juris Corp consistently advised and represented the CoC, ultimately maximising value for the CD and strengthening recoveries for its stakeholders.<\/p>\n

Significance of the Matter<\/strong><\/p>\n

This is a significant asset\u2011wise Corporate Insolvency Resolution Process outcome in the healthcare sector, shaped by extensive litigation and prolonged pandemic\u2011related disruption. The resolution achieved demonstrates robust creditor\u2011led decision\u2011making and successful navigation of regulatory requirements, culminating in value maximisation and enhanced stakeholder recoveries.<\/p>\n

Law Firms Involved:<\/strong> Trilegal for Resolution Professional, EY (Ernst & Young); Shardul Amarchand Mangaldas for MCGM; Saraf and Partners for Successful Resolution Applicant,<\/p>\n

Practice Area:<\/strong> Insolvency and Restructuring; Disputes Resolution.<\/p>\n

Deal Value:<\/strong> 1500 Crores.<\/p>\n

Deal Closing Date:<\/strong> 19th<\/sup> January 2026.<\/p>\n

Team Involved: <\/strong>Mr. Jayesh H (Senior Partner), Ms. Jinal Shah (Associate Partner), Ms. Palak Nenwani (Principal Associate), <\/strong>Mr. Ronit Chopra (Associate).<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-54724","legal_developments","type-legal_developments","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/legal_developments\/54724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/legal_developments"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/legal_developments"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=54724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}