The case involves two appeals filed by the same appellant, who is the suspended Director of the Corporate Debtor, G.C. Property Private Limited. Company Appeal (AT) (Insolvency) No. 468 of 2022 was filed against the order dated 11.03.2022 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, which admitted C.P. No. 2312/IBC/MB/2019 filed by the Respondent IL&FS Financial Services Ltd. Company Appeal (AT) (Insolvency) No. 1027 of 2022 was filed against the order dated 06.07.2022 in the same CP(IB) - 2312/IBC/MB/2019 by which the Adjudicating Authority allowed an application filed by the Resolution Professional under Section 33 of the Insolvency and Bankruptcy Code, 2016, and directed for liquidation of the Corporate Debtor.
IL&FS offered a Rupee Term Loan facility of Rs.30 crores to Smt. Anupama Agarwal ('the Borrower') via an offer letter dated 27.12.2017. The offer letter included a 'Security Package' consisting of primary security, which was a mortgage by way of deposit of original title deeds over residential premises, namely Flat No.6, Gold Croft, 39, Bahulabhai Desai Road, Mumbai-26. A Loan Agreement was entered between IL&FS Financial Services Ltd. and the Principal Borrower on 29.12.2017, extending a Rupee Term Loan of Rs.300 million. On the same day, a Letter of Guarantee was issued by the Corporate Debtor, guaranteeing repayment of the Rs.30 crore loan. The Corporate Debtor also deposited the title deed of the residential property of Flat No.6 with the lender. The
…Sign in to view the parties.
IL&FS offered a Rupee Term Loan facility of…
Loan Agreement was entered between IL&FS…
The case involves two appeals filed by the same appellant, who is the suspended Director of the Corporate Debtor, G.C. Property Private Limited. Company Appeal (AT) (Insolvency) No. 468 of 2022 was filed against the order dated 11.03.2022 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, which admitted C.P. No. 2312/IBC/MB/2019 filed by the Respondent IL&FS Financial Services Ltd. Company Appeal (AT) (Insolvency) No. 1027 of 2022 was filed against the order dated 06.07.2022 in the same CP(IB) - 2312/IBC/MB/2019 by which the Adjudicating Authority allowed an application filed by the Resolution Professional under Section 33 of the Insolvency and Bankruptcy Code, 2016, and directed for liquidation of the Corporate Debtor.
IL&FS offered a Rupee Term Loan facility of Rs.30 crores to Smt. Anupama Agarwal ('the Borrower') via an offer letter dated 27.12.2017. The offer letter included a 'Security Package' consisting of primary security, which was a mortgage by way of deposit of original title deeds over residential premises, namely Flat No.6, Gold Croft, 39, Bahulabhai Desai Road, Mumbai-26. A Loan Agreement was entered between IL&FS Financial Services Ltd. and the Principal Borrower on 29.12.2017, extending a Rupee Term Loan of Rs.300 million. On the same day, a Letter of Guarantee was issued by the Corporate Debtor, guaranteeing repayment of the Rs.30 crore loan. The Corporate Debtor also deposited the title deed of the residential property of Flat No.6 with the lender. The
…IL&FS offered a Rupee Term Loan facility of…
Loan Agreement was entered between IL&FS…