India Housing Fund and India Housing Fund Series 2 (Financial Creditors) filed a Section 7 IBC petition against Gulam Mustafa Enterprises Private Limited (Corporate Debtor) due to a default on Secured, Redeemable, Non-Convertible Debentures. The Corporate Debtor owed an aggregate amount of Rs. 627,61,98,448/- as of 28.02.2025, arising from a disbursed amount of Rs. 385,00,00,000/- for a real estate project. Default and Recall Notices were issued by the Debenture Trustee after the Corporate Debtor failed to meet its repayment obligations.
The present Petition was filed on 18.03.2025 under Section 7 of the IBC, 2016 by India Housing Fund and India Housing Fund Series 2.
The Petitioners are Financial Creditors seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Gulam Mustafa Enterprises Private Limited (Corporate Debtor).
The financial debt arose from the Corporate Debtor's issuance of Secured, Redeemable, Non-Convertible Debentures, to which the Petitioners subscribed.
India Housing Fund holds Senior Debentures, and India Housing Fund Series 2 holds Series VI Debentures.
An aggregate amount of Rs. 627,61,98,448/- was due and payable by the Corporate Debtor as on 28.02.2025.
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Debenture Subscription Agreement and Debenture…
Supplemental Debenture…
India Housing Fund and India Housing Fund Series 2 (Financial Creditors) filed a Section 7 IBC petition against Gulam Mustafa Enterprises Private Limited (Corporate Debtor) due to a default on Secured, Redeemable, Non-Convertible Debentures. The Corporate Debtor owed an aggregate amount of Rs. 627,61,98,448/- as of 28.02.2025, arising from a disbursed amount of Rs. 385,00,00,000/- for a real estate project. Default and Recall Notices were issued by the Debenture Trustee after the Corporate Debtor failed to meet its repayment obligations.
The present Petition was filed on 18.03.2025 under Section 7 of the IBC, 2016 by India Housing Fund and India Housing Fund Series 2.
The Petitioners are Financial Creditors seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Gulam Mustafa Enterprises Private Limited (Corporate Debtor).
The financial debt arose from the Corporate Debtor's issuance of Secured, Redeemable, Non-Convertible Debentures, to which the Petitioners subscribed.
India Housing Fund holds Senior Debentures, and India Housing Fund Series 2 holds Series VI Debentures.
An aggregate amount of Rs. 627,61,98,448/- was due and payable by the Corporate Debtor as on 28.02.2025.
…Debenture Subscription Agreement and Debenture…
Supplemental Debenture…