# In the matter of Handum Industries Limited

> NCLT judgment dated 2025-12-03. Citation: TCN-2025-NCLT-01888. The Liquidator of Handum Industries Limited filed an application seeking directions to Stressed…

- **Court:** NCLT
- **Order date:** 3 Dec 2025
- **Citation:** TCN-2025-NCLT-01888
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/handum-industries-limited-531f4313

## Summary

### Background

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.

## Facts

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.

…

## Issues and analysis

### Issue 1: Whether the transfer of the SASF loan to SMPL with the concurrence of SASF extinguished the charge …

**Ratio:** The charge originally created by the CD

…

**Reasoning:** The sole premise on which the Applicant-Liquidator seeks relief is that, upon transfer of

…

**Interpretation:** The court interpreted that the transfer of loan does not automatically

…

**Application:** The court applied the principle that the charge remains until full payment of

…

## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** Liquidator of M/s…; Mr Vamsi Kambhamme…
- **Respondents:** Handum Industries…; Stressed Assets…; +1 more
- **Other parties:** IDBI…; Mr Vamsi Kambhamme…
- **Advocates:** Mr K Poorna…; Mr Prasoo…; +2 more

## Timeline

- **2001-03-12 — Term Loa…**: CD had availed a term loan from IDBI…
- **2001-10-10 — Charge Cr…**: A charge/mortgage was created in favour of IDBI over the immovable properties belonging…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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