The case involves a company petition filed by Edelweiss Asset Reconstruction Company Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Fortune Assets Private Limited (Corporate Debtor) due to a default in payment of financial debt.
Edelweiss Asset Reconstruction Company Limited, acting as a financial creditor, filed a Company Petition on February 7, 2026, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition sought to initiate the Corporate Insolvency Resolution Process (CIRP) against Fortune Assets Private Limited, the corporate debtor, for a default in financial debt amounting to Rs. 13,11,27,85,247/- as of January 15, 2026. The financial creditor is an Asset Reconstruction Company registered under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The corporate debtor, Fortune Assets Private Limited, was incorporated on November 7, 2008, under the Companies Act, 1956. The company required
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ECL Finance Limited…
A Loan Agreement for Term Loan I was executed…
The case involves a company petition filed by Edelweiss Asset Reconstruction Company Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Fortune Assets Private Limited (Corporate Debtor) due to a default in payment of financial debt.
Edelweiss Asset Reconstruction Company Limited, acting as a financial creditor, filed a Company Petition on February 7, 2026, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition sought to initiate the Corporate Insolvency Resolution Process (CIRP) against Fortune Assets Private Limited, the corporate debtor, for a default in financial debt amounting to Rs. 13,11,27,85,247/- as of January 15, 2026. The financial creditor is an Asset Reconstruction Company registered under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The corporate debtor, Fortune Assets Private Limited, was incorporated on November 7, 2008, under the Companies Act, 1956. The company required
…ECL Finance Limited…
A Loan Agreement for Term Loan I was executed…