The case involves a petition filed by Catalyst Trusteeship Limited, acting as the financial creditor, against ASF Buildtech Private Limited, the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the corporate insolvency resolution process (CIRP). ASF Buildtech had approached Indiabulls Housing Finance Limited (now Sammaan Capital Limited) for loan facilities for residential projects, resulting in five loan agreements. Catalyst Trusteeship Limited, acting as a trustee for various investment trusts, acquired the receivables from Indiabulls via an assignment agreement. ASF Buildtech defaulted on payments, leading Catalyst to issue loan recall notices. An earlier CIRP application was disposed of due to settlement talks,
…ASF Buildtech Private Limited (Corporate Debtor/CD) approached Indiabulls Housing Finance Limited (IHFL, now Sammaan Capital Limited) for loan facilities to develop residential projects. Five loan agreements were signed. Catalyst Trusteeship Limited (Financial Creditor/FC) acquired the receivables from IHFL through an assignment agreement dated 2022-03-29. ASF Buildtech defaulted on loan repayments, leading Catalyst to issue loan recall notices dated 2023-12-08. An earlier CIRP application (CP(IB) No. 124 of 2024) was filed by Catalyst but disposed of on 2024-04-30 due to ongoing settlement talks. These talks failed, and Catalyst issued another loan recall notice on 2024-09-09. As of 2024-09-12, Rs. 768,51,48,906/- was outstanding. ASF Buildtech argued that the default
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Date of the loan agreement between Sammaan…
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The case involves a petition filed by Catalyst Trusteeship Limited, acting as the financial creditor, against ASF Buildtech Private Limited, the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the corporate insolvency resolution process (CIRP). ASF Buildtech had approached Indiabulls Housing Finance Limited (now Sammaan Capital Limited) for loan facilities for residential projects, resulting in five loan agreements. Catalyst Trusteeship Limited, acting as a trustee for various investment trusts, acquired the receivables from Indiabulls via an assignment agreement. ASF Buildtech defaulted on payments, leading Catalyst to issue loan recall notices. An earlier CIRP application was disposed of due to settlement talks,
…ASF Buildtech Private Limited (Corporate Debtor/CD) approached Indiabulls Housing Finance Limited (IHFL, now Sammaan Capital Limited) for loan facilities to develop residential projects. Five loan agreements were signed. Catalyst Trusteeship Limited (Financial Creditor/FC) acquired the receivables from IHFL through an assignment agreement dated 2022-03-29. ASF Buildtech defaulted on loan repayments, leading Catalyst to issue loan recall notices dated 2023-12-08. An earlier CIRP application (CP(IB) No. 124 of 2024) was filed by Catalyst but disposed of on 2024-04-30 due to ongoing settlement talks. These talks failed, and Catalyst issued another loan recall notice on 2024-09-09. As of 2024-09-12, Rs. 768,51,48,906/- was outstanding. ASF Buildtech argued that the default
…Date of the loan agreement between Sammaan…
Date of the assignment agreement between…