The Liquidator of Handum Industries Limited filed an application seeking directions to Stressed Assets Stabilisation Fund (SASF) to hand over property documents of the Corporate Debtor, Handum Industries Limited.
Handum Industries Limited is undergoing liquidation pursuant to an order dated 11.06.2021.
The Liquidator filed an application seeking directions to SASF to hand over property documents.
Handum had availed a term loan from IDBI Bank on 12.03.2001, and a charge/mortgage was created in favor of IDBI on 10.10.2001.
IDBI assigned its debt and security interests to SASF through a Transfer Deed dated 30.09.2004.
Handum sold its manufacturing division, including the Scheduled Property, to SMPL via a Slump Sale Agreement.
SMPL took over the liability towards SASF as part of the Slump Sale Agreement.
SMPL failed to honor its liabilities and subsequently underwent CIRP.
The charge created on the scheduled property remained undischarged.
…Sign in to view the parties.
CD had availed a term…
A charge/mortgage was created in favour of IDBI…
The Liquidator of Handum Industries Limited filed an application seeking directions to Stressed Assets Stabilisation Fund (SASF) to hand over property documents of the Corporate Debtor, Handum Industries Limited.
Handum Industries Limited is undergoing liquidation pursuant to an order dated 11.06.2021.
The Liquidator filed an application seeking directions to SASF to hand over property documents.
Handum had availed a term loan from IDBI Bank on 12.03.2001, and a charge/mortgage was created in favor of IDBI on 10.10.2001.
IDBI assigned its debt and security interests to SASF through a Transfer Deed dated 30.09.2004.
Handum sold its manufacturing division, including the Scheduled Property, to SMPL via a Slump Sale Agreement.
SMPL took over the liability towards SASF as part of the Slump Sale Agreement.
SMPL failed to honor its liabilities and subsequently underwent CIRP.
The charge created on the scheduled property remained undischarged.
…CD had availed a term…
A charge/mortgage was created in favour of IDBI…