Standard Capital Markets Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Anjaney Developers Private Ltd., the Corporate Debtor. The petition stems from a financial debt arising from a loan facility initially availed by Veer Chemicals Pvt. Ltd. from Sammaan Capital Ltd. (SCL), later assigned to Standard Capital Markets Ltd. Anjaney Developers acted as a guarantor for the loan. The Corporate Debtor defaulted on its payment obligations, leading to the filing of this petition.
Veer Chemicals Pvt. Ltd. sought loan facilities from Sammaan Capital Ltd. (SCL) for construction activities. SCL issued a sanction letter, and a loan agreement for Rs. 150,00,00,000/- was executed on 2018-10-30. SCL disbursed the amount to Veer on 2018-11-02. Anjaney Developers Private Ltd. (Corporate Debtor) and its sister concerns executed a Memorandum of Entry on 2020-11-28, creating a first-ranking mortgage in favor of SCL. An Addendum Agreement was executed on 2020-10-01, extending the loan term to 2025-10-05. SCL executed a Deed of Assignment on 2024-10-01 in favor of Standard Capital Markets Ltd. (Financial Creditor). The Financial Creditor served a letter on 2024-10-01, calling for a Deed of Guarantee, which was executed on 2024-10-03, with the Corporate Debtor
…Sign in to view the parties.
SCL and Veer executed a…
SCL disburs…
Standard Capital Markets Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Anjaney Developers Private Ltd., the Corporate Debtor. The petition stems from a financial debt arising from a loan facility initially availed by Veer Chemicals Pvt. Ltd. from Sammaan Capital Ltd. (SCL), later assigned to Standard Capital Markets Ltd. Anjaney Developers acted as a guarantor for the loan. The Corporate Debtor defaulted on its payment obligations, leading to the filing of this petition.
Veer Chemicals Pvt. Ltd. sought loan facilities from Sammaan Capital Ltd. (SCL) for construction activities. SCL issued a sanction letter, and a loan agreement for Rs. 150,00,00,000/- was executed on 2018-10-30. SCL disbursed the amount to Veer on 2018-11-02. Anjaney Developers Private Ltd. (Corporate Debtor) and its sister concerns executed a Memorandum of Entry on 2020-11-28, creating a first-ranking mortgage in favor of SCL. An Addendum Agreement was executed on 2020-10-01, extending the loan term to 2025-10-05. SCL executed a Deed of Assignment on 2024-10-01 in favor of Standard Capital Markets Ltd. (Financial Creditor). The Financial Creditor served a letter on 2024-10-01, calling for a Deed of Guarantee, which was executed on 2024-10-03, with the Corporate Debtor
…SCL and Veer executed a…
SCL disburs…