KKR India Asset Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mantri Developers Private Limited (MDPL), the Corporate Debtor. The application was supported by an affidavit dated 31.08.2021. MDPL was incorporated on 06.12.1990. The Financial Creditor claimed a default amount of Rs. 101,20,25,989/- as of 31.08.2021. The Financial Creditor supported its claim with various documents, including a loan agreement, corporate guarantee, security trustee agreement, and default reports. SDPL availed a term loan facility of Rs. 145,00,00,000/- from the Financial Creditor, and MDPL executed a corporate guarantee in favor of the Security Trustee, IL&FS Trust Company Ltd.
KKR India Asset Finance Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Mantri Developers Private Limited (MDPL), the Corporate Debtor. The Financial Creditor claimed a default amount of Rs. 101,20,25,989/- as of 31.08.2021. The Corporate Debtor, MDPL, was incorporated on 06.12.1990. Smarthomes Developers (India) Pvt Ltd. (SDPL) availed a term loan facility of Rs. 145,00,00,000/- from the Financial Creditor on 07.05.2016. MDPL executed a deed of corporate guarantee in favor of IL&FS Trust Company Ltd (Security Trustee) on 07.05.2016, guaranteeing payment of amounts due from SDPL. SDPL separately executed a deed of hypothecation dated
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KKR India Asset Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mantri Developers Private Limited (MDPL), the Corporate Debtor. The application was supported by an affidavit dated 31.08.2021. MDPL was incorporated on 06.12.1990. The Financial Creditor claimed a default amount of Rs. 101,20,25,989/- as of 31.08.2021. The Financial Creditor supported its claim with various documents, including a loan agreement, corporate guarantee, security trustee agreement, and default reports. SDPL availed a term loan facility of Rs. 145,00,00,000/- from the Financial Creditor, and MDPL executed a corporate guarantee in favor of the Security Trustee, IL&FS Trust Company Ltd.
KKR India Asset Finance Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Mantri Developers Private Limited (MDPL), the Corporate Debtor. The Financial Creditor claimed a default amount of Rs. 101,20,25,989/- as of 31.08.2021. The Corporate Debtor, MDPL, was incorporated on 06.12.1990. Smarthomes Developers (India) Pvt Ltd. (SDPL) availed a term loan facility of Rs. 145,00,00,000/- from the Financial Creditor on 07.05.2016. MDPL executed a deed of corporate guarantee in favor of IL&FS Trust Company Ltd (Security Trustee) on 07.05.2016, guaranteeing payment of amounts due from SDPL. SDPL separately executed a deed of hypothecation dated
…SDPL availed a term…
MDPL executed a deed of…