Catalyst Trusteeship Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Blu-Smart Mobility Limited for initiation of Corporate Insolvency Resolution Process (CIRP) due to a default on financial debt.
Catalyst Trusteeship Limited, acting as the Debenture Trustee for InCred Credit Opportunities Fund - I, filed a petition under Section 7 of the IBC against Blu-Smart Mobility Limited.
The petition was filed on 13.05.2025, claiming a default on financial debt amounting to Rs. 1,28,02,195/-.
Blu-Smart Mobility Limited issued 15 secured, redeemable, unrated, and unlisted Non-Convertible Debentures (NCDs) on 20.04.2023, aggregating to Rs. 15,00,00,000.
The Corporate Debtor defaulted on payments due on 31.03.2025 and 30.04.2025.
The Financial Creditor issued multiple notices of default to the Corporate Debtor.
The Corporate Debtor admitted liability via email on 10.04.2025, promising payment, which was not made.
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Blu-Smart Mobility Limited issued 15…
Rs. 64,77,260 due on 28.02.2025, paid…
Catalyst Trusteeship Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Blu-Smart Mobility Limited for initiation of Corporate Insolvency Resolution Process (CIRP) due to a default on financial debt.
Catalyst Trusteeship Limited, acting as the Debenture Trustee for InCred Credit Opportunities Fund - I, filed a petition under Section 7 of the IBC against Blu-Smart Mobility Limited.
The petition was filed on 13.05.2025, claiming a default on financial debt amounting to Rs. 1,28,02,195/-.
Blu-Smart Mobility Limited issued 15 secured, redeemable, unrated, and unlisted Non-Convertible Debentures (NCDs) on 20.04.2023, aggregating to Rs. 15,00,00,000.
The Corporate Debtor defaulted on payments due on 31.03.2025 and 30.04.2025.
The Financial Creditor issued multiple notices of default to the Corporate Debtor.
The Corporate Debtor admitted liability via email on 10.04.2025, promising payment, which was not made.
…Blu-Smart Mobility Limited issued 15…
Rs. 64,77,260 due on 28.02.2025, paid…