The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Assets Care & Reconstruction Enterprise Limited (Financial Creditor) against STG Softek Private Limited (Corporate Debtor). The Financial Creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor based on a corporate guarantee issued by STG Softek for a loan taken by ATS Infrastructure Limited and Mr. Getamber Anand from Xander Finance Private Limited (Assignor). The Assignor later assigned the loan and underlying securities to the Financial Creditor. ATS Infrastructure Limited defaulted on its repayment obligations, leading the Financial Creditor to invoke the corporate guarantee against STG Softek. The Corporate Debtor
…ATS Infrastructure Limited and Mr. Getamber Anand (Borrowers) entered into a Loan Agreement dated 2017-09-29 for a rupee term loan facility of INR 50,00,00,000 from Xander Finance Private Limited (Assignor). STG Softek Private Limited (Corporate Debtor) acted as a Security Provider/Obligor in the Loan Agreement. The Assignor executed an assignment agreement dated 2021-04-13 with the Financial Creditor, Assets Care & Reconstruction Enterprise Limited, assigning all loans and underlying securities. The Assignor intimated the Borrowers and the Corporate Debtor about the assignment on 2021-04-14. ATS Infrastructure Limited defaulted on its repayment obligations on 2021-03-31 and 2021-04-12. The Financial Creditor invoked the corporate guarantee issued by the Corporate
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ATS Infrastructure Limited and Mr. Getamber…
Xander Finance Private Limited executed an…
The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Assets Care & Reconstruction Enterprise Limited (Financial Creditor) against STG Softek Private Limited (Corporate Debtor). The Financial Creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor based on a corporate guarantee issued by STG Softek for a loan taken by ATS Infrastructure Limited and Mr. Getamber Anand from Xander Finance Private Limited (Assignor). The Assignor later assigned the loan and underlying securities to the Financial Creditor. ATS Infrastructure Limited defaulted on its repayment obligations, leading the Financial Creditor to invoke the corporate guarantee against STG Softek. The Corporate Debtor
…ATS Infrastructure Limited and Mr. Getamber Anand (Borrowers) entered into a Loan Agreement dated 2017-09-29 for a rupee term loan facility of INR 50,00,00,000 from Xander Finance Private Limited (Assignor). STG Softek Private Limited (Corporate Debtor) acted as a Security Provider/Obligor in the Loan Agreement. The Assignor executed an assignment agreement dated 2021-04-13 with the Financial Creditor, Assets Care & Reconstruction Enterprise Limited, assigning all loans and underlying securities. The Assignor intimated the Borrowers and the Corporate Debtor about the assignment on 2021-04-14. ATS Infrastructure Limited defaulted on its repayment obligations on 2021-03-31 and 2021-04-12. The Financial Creditor invoked the corporate guarantee issued by the Corporate
…ATS Infrastructure Limited and Mr. Getamber…
Xander Finance Private Limited executed an…