Catalyst Trusteeship 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 J.U.D. Cements Limited (Corporate Debtor). The petition sought to resolve a financial debt of Rs. 1,96,69,05,415/- as of 30.04.2026, arising from defaulted Non-Convertible Debentures (NCDs). The Corporate Debtor raised several objections, including lack of locus for the Petitioner, the nature of the debt, the absolving effect of an Escrow arrangement, and the application being a recovery mechanism.
Catalyst Trusteeship Limited (Petitioner/Financial Creditor) filed a petition under Section 7 of IBC, 2016, to initiate CIRP against J.U.D. Cements Limited (Corporate Debtor).
The petition sought CIRP for an unresolved Financial Debt of Rs. 1,96,69,05,415/- as on 30.04.2026.
The Corporate Debtor authorized the issuance of 1,550 secured, unrated, unlisted, redeemable, non-convertible debentures (NCDs) of Rs. 10 lakhs each, aggregating to Rs. 155 crores.
A Debenture Trustee Agreement was executed on 05.11.2024, appointing the Petitioner as Debenture Trustee.
A Debenture Trust Deed was executed on 30.12.2024.
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A Debenture Trustee Agreement was executed,…
A Debenture Trust Deed…
Catalyst Trusteeship 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 J.U.D. Cements Limited (Corporate Debtor). The petition sought to resolve a financial debt of Rs. 1,96,69,05,415/- as of 30.04.2026, arising from defaulted Non-Convertible Debentures (NCDs). The Corporate Debtor raised several objections, including lack of locus for the Petitioner, the nature of the debt, the absolving effect of an Escrow arrangement, and the application being a recovery mechanism.
Catalyst Trusteeship Limited (Petitioner/Financial Creditor) filed a petition under Section 7 of IBC, 2016, to initiate CIRP against J.U.D. Cements Limited (Corporate Debtor).
The petition sought CIRP for an unresolved Financial Debt of Rs. 1,96,69,05,415/- as on 30.04.2026.
The Corporate Debtor authorized the issuance of 1,550 secured, unrated, unlisted, redeemable, non-convertible debentures (NCDs) of Rs. 10 lakhs each, aggregating to Rs. 155 crores.
A Debenture Trustee Agreement was executed on 05.11.2024, appointing the Petitioner as Debenture Trustee.
A Debenture Trust Deed was executed on 30.12.2024.
…A Debenture Trustee Agreement was executed,…
A Debenture Trust Deed…