Catalyst Trusteeship Limited, formerly known as Milestone Trusteeship Services Private Limited, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Gutsiness Hospitality Private Limited, formerly known as Archies Developers Private Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor, acting as a Debenture Trustee for Capri Global Capital Limited, claimed that the Corporate Debtor had defaulted on a corporate guarantee issued for the benefit of debenture holders after the Issuer Companies failed to repay the NCD amount. The Financial Creditor had issued notices under Section 13(2) of the SARFAESI Act, 2002, and obtained an order from the Additional Chief Metropolitan Magistrate to
…Catalyst Trusteeship Limited, acting as the Debenture Trustee for Capri Global Capital Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Gutsiness Hospitality Private Limited, the Corporate Debtor. The Issuer Companies, engaged in the business of builders and contractors, issued secured, redeemable, non-convertible, unlisted Zero-Coupon Cumulative Debentures (NCDs). Capri Global Capital Limited subscribed to these NCDs. The Issuer Companies were required to appoint a Debenture Trustee, and they entered into Debenture Trustee Deeds with Milestone Trusteeship Services Private Limited, later amalgamated into Catalyst Trusteeship Limited. The Corporate Debtor issued a corporate guarantee to the Debenture Trustee for the benefit
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Milestone Trusteeship Services Private Limited…
Archies Developers…
Catalyst Trusteeship Limited, formerly known as Milestone Trusteeship Services Private Limited, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Gutsiness Hospitality Private Limited, formerly known as Archies Developers Private Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor, acting as a Debenture Trustee for Capri Global Capital Limited, claimed that the Corporate Debtor had defaulted on a corporate guarantee issued for the benefit of debenture holders after the Issuer Companies failed to repay the NCD amount. The Financial Creditor had issued notices under Section 13(2) of the SARFAESI Act, 2002, and obtained an order from the Additional Chief Metropolitan Magistrate to
…Catalyst Trusteeship Limited, acting as the Debenture Trustee for Capri Global Capital Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Gutsiness Hospitality Private Limited, the Corporate Debtor. The Issuer Companies, engaged in the business of builders and contractors, issued secured, redeemable, non-convertible, unlisted Zero-Coupon Cumulative Debentures (NCDs). Capri Global Capital Limited subscribed to these NCDs. The Issuer Companies were required to appoint a Debenture Trustee, and they entered into Debenture Trustee Deeds with Milestone Trusteeship Services Private Limited, later amalgamated into Catalyst Trusteeship Limited. The Corporate Debtor issued a corporate guarantee to the Debenture Trustee for the benefit
…Milestone Trusteeship Services Private Limited…
Archies Developers…