The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/S Stressed Asset Stabilization Fund (SASF) against M/S Hotline CPT Ltd., claiming to be a financial creditor of the respondent company, termed as the corporate debtor. In 1995, IDBI sanctioned financial assistance to Hotline CPT Limited for setting up a plant. Subsequent events included loan cum security documents, mortgage creation, transfer of assets and liabilities to LG Hotline CPT Ltd., and financial restructuring. In 2004, IDBI assigned the financial assistance to SASF. In 2007, the corporate debtor filed an application under the Sick Industrial Companies Act, 1985, which was admitted. Despite financial facilities, the corporate debtor was irregular in
…In 1995, IDBI sanctioned financial assistance to Hotline CPT Limited for setting up a plant in Madhya Pradesh. Loan cum security documents were executed in July and October 1995. In 1998, assets and liabilities were transferred to LG Hotline CPT Ltd. In 1999, IDBI agreed to financial restructuring and proposed converting a foreign currency loan. In 2004, IDBI assigned the financial assistance to Stressed Assets Stabilization Fund (SASF). In 2007, the corporate debtor filed an application under the Sick Industrial Companies Act, 1985, which was admitted. In 2018, SASF recalled the financial facilities due to irregular payments. SASF initiated recovery proceedings before the Debt Recovery Tribunal. The corporate debtor filed a settlement proposal which was later
…Sign in to view the parties.
IDBI sanctioned…
Loan cum se…
The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/S Stressed Asset Stabilization Fund (SASF) against M/S Hotline CPT Ltd., claiming to be a financial creditor of the respondent company, termed as the corporate debtor. In 1995, IDBI sanctioned financial assistance to Hotline CPT Limited for setting up a plant. Subsequent events included loan cum security documents, mortgage creation, transfer of assets and liabilities to LG Hotline CPT Ltd., and financial restructuring. In 2004, IDBI assigned the financial assistance to SASF. In 2007, the corporate debtor filed an application under the Sick Industrial Companies Act, 1985, which was admitted. Despite financial facilities, the corporate debtor was irregular in
…In 1995, IDBI sanctioned financial assistance to Hotline CPT Limited for setting up a plant in Madhya Pradesh. Loan cum security documents were executed in July and October 1995. In 1998, assets and liabilities were transferred to LG Hotline CPT Ltd. In 1999, IDBI agreed to financial restructuring and proposed converting a foreign currency loan. In 2004, IDBI assigned the financial assistance to Stressed Assets Stabilization Fund (SASF). In 2007, the corporate debtor filed an application under the Sick Industrial Companies Act, 1985, which was admitted. In 2018, SASF recalled the financial facilities due to irregular payments. SASF initiated recovery proceedings before the Debt Recovery Tribunal. The corporate debtor filed a settlement proposal which was later
…IDBI sanctioned…
Loan cum se…