The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Catalyst Trusteeship Limited, a financial creditor, against Manjeera Retail Holdings Pvt. Ltd., the corporate debtor. The application seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to a default in discharging a debt owed to the financial creditor. The corporate debtor had availed a term loan facility from Altico Capital India Limited, which was later assigned to Catalyst Trusteeship Limited. The corporate debtor defaulted on repayment, leading to the application for CIRP.
Catalyst Trusteeship Limited, a financial creditor, filed an application against Manjeera Retail Holdings Pvt. Ltd., the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor had availed a term loan facility of Rs. 325,00,00,000/- from Altico Capital India Limited, out of which Rs. 274,80,00,000/- was disbursed. Altico later assigned the debt to Catalyst Trusteeship Limited. The corporate debtor defaulted on the installment due on 31.12.2021. The corporate debtor made some part payments but substantially lagged in making full payments as per the agreed schedule. The corporate debtor cited the impact of the COVID-19 pandemic on its business as a reason for the default. The corporate debtor was in negotiations with LULU
…Sign in to view the parties.
Andhra Pradesh Housing Board (APHB) and M/s.…
Andhra Pradesh Housing Board (APHB) and M/s.…
The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Catalyst Trusteeship Limited, a financial creditor, against Manjeera Retail Holdings Pvt. Ltd., the corporate debtor. The application seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to a default in discharging a debt owed to the financial creditor. The corporate debtor had availed a term loan facility from Altico Capital India Limited, which was later assigned to Catalyst Trusteeship Limited. The corporate debtor defaulted on repayment, leading to the application for CIRP.
Catalyst Trusteeship Limited, a financial creditor, filed an application against Manjeera Retail Holdings Pvt. Ltd., the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor had availed a term loan facility of Rs. 325,00,00,000/- from Altico Capital India Limited, out of which Rs. 274,80,00,000/- was disbursed. Altico later assigned the debt to Catalyst Trusteeship Limited. The corporate debtor defaulted on the installment due on 31.12.2021. The corporate debtor made some part payments but substantially lagged in making full payments as per the agreed schedule. The corporate debtor cited the impact of the COVID-19 pandemic on its business as a reason for the default. The corporate debtor was in negotiations with LULU
…Andhra Pradesh Housing Board (APHB) and M/s.…
Andhra Pradesh Housing Board (APHB) and M/s.…