The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Catalyst Trusteeship Limited, the Financial Creditor, to initiate the Corporate Insolvency Resolution Process (CIRP) against BCC Infrastructures Private Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 746,82,04,199/-, including principal, interest, and other dues, related to secured, redeemable non-convertible debentures. The date of default was stated as 01.06.2023, following a recall notice issued on 24.05.2023.
Catalyst Trusteeship Limited, the Applicant, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against BCC Infrastructures Private Limited, the Corporate Debtor. The Corporate Debtor issued 17.25% secured, redeemable non-convertible debentures with a face value of Rs. 10,00,000/- each, totaling Rs. 420,00,00,000/- to the Financial Creditor under a Debenture Trust Deed. The debentures were to be utilized for the development, construction, and completion of a residential project named "Bharat City" in Ghaziabad, Uttar Pradesh. The Series I Date of Allotment for the debentures was 22.11.2019. The debentures became redeemable in 12 equal quarterly installments starting from
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The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Catalyst Trusteeship Limited, the Financial Creditor, to initiate the Corporate Insolvency Resolution Process (CIRP) against BCC Infrastructures Private Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 746,82,04,199/-, including principal, interest, and other dues, related to secured, redeemable non-convertible debentures. The date of default was stated as 01.06.2023, following a recall notice issued on 24.05.2023.
Catalyst Trusteeship Limited, the Applicant, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against BCC Infrastructures Private Limited, the Corporate Debtor. The Corporate Debtor issued 17.25% secured, redeemable non-convertible debentures with a face value of Rs. 10,00,000/- each, totaling Rs. 420,00,00,000/- to the Financial Creditor under a Debenture Trust Deed. The debentures were to be utilized for the development, construction, and completion of a residential project named "Bharat City" in Ghaziabad, Uttar Pradesh. The Series I Date of Allotment for the debentures was 22.11.2019. The debentures became redeemable in 12 equal quarterly installments starting from
…The Series I…
The date from w…