The case involves a Restoration Application (RST.A (IBC) 49/MB/2024) filed in CP (IB) No. 2394/MB/2019 by Authum Investment & Infrastructure Limited, the Assignee/Applicant, seeking the restoration of the Main Application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) and Rule 48(2) r/w Rule 11 of the National Company Law Tribunal Rules, 2016 (NCLT Rules). The Main Application, filed under Section 7 of the IBC for initiating Corporate Insolvency Resolution Process (CIRP) against RNA Lifestyle Private Limited (Corporate Debtor), was dismissed for default on 14.05.2024 due to the non-representation of the original Financial Creditor (Suraksha Asset Reconstruction Limited) or the Assignee. The loans were originally sanctioned by Reliance Capital
…The case originates from CP (IB) No. 2394/MB/2019, an application under Section 7 of the IBC for initiating CIRP against RNA Lifestyle Private Limited (Corporate Debtor). The original Financial Creditor was Suraksha Asset Reconstruction Limited, who filed the Main Application. The debt in question amounted to Rs. 50,21,99,605/-. The loans were initially sanctioned by Reliance Capital Limited, later demerged to Reliance Commercial Finance Limited (RCFL), which then assigned the loans to Suraksha Asset Reconstruction Limited on 31.03.2018. Suraksha Asset Reconstruction Limited subsequently assigned the loan to Authum Investment & Infrastructure Limited (Assignee/Applicant) on 30.03.2024. The Main Application was dismissed on 14.05.2024 due to the non-appearance of
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The Main Application under Section 7 of the IBC…
RCFL assigned the loans…
The case involves a Restoration Application (RST.A (IBC) 49/MB/2024) filed in CP (IB) No. 2394/MB/2019 by Authum Investment & Infrastructure Limited, the Assignee/Applicant, seeking the restoration of the Main Application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) and Rule 48(2) r/w Rule 11 of the National Company Law Tribunal Rules, 2016 (NCLT Rules). The Main Application, filed under Section 7 of the IBC for initiating Corporate Insolvency Resolution Process (CIRP) against RNA Lifestyle Private Limited (Corporate Debtor), was dismissed for default on 14.05.2024 due to the non-representation of the original Financial Creditor (Suraksha Asset Reconstruction Limited) or the Assignee. The loans were originally sanctioned by Reliance Capital
…The case originates from CP (IB) No. 2394/MB/2019, an application under Section 7 of the IBC for initiating CIRP against RNA Lifestyle Private Limited (Corporate Debtor). The original Financial Creditor was Suraksha Asset Reconstruction Limited, who filed the Main Application. The debt in question amounted to Rs. 50,21,99,605/-. The loans were initially sanctioned by Reliance Capital Limited, later demerged to Reliance Commercial Finance Limited (RCFL), which then assigned the loans to Suraksha Asset Reconstruction Limited on 31.03.2018. Suraksha Asset Reconstruction Limited subsequently assigned the loan to Authum Investment & Infrastructure Limited (Assignee/Applicant) on 30.03.2024. The Main Application was dismissed on 14.05.2024 due to the non-appearance of
…The Main Application under Section 7 of the IBC…
RCFL assigned the loans…