Catalyst Trusteeship Limited (Financial Creditor/Applicant) filed an application under Section 7 of the IBC, 2016, against Infiiloom India Private Limited (Corporate Debtor) for the initiation of CIRP due to defaults on debentures (NCDs and OCDs) totaling Rs. 260 Crores. The Corporate Debtor sought multiple deferments for payment obligations, which were granted, but ultimately failed to make payments. The Applicant issued default notices and a recall notice, accelerating the debt. The Corporate Debtor challenged the validity of these notices, the authority of the Applicant, and the jurisdiction of the NCLT, citing ongoing restructuring discussions and a pending commercial suit in the Delhi High Court. The Corporate Debtor also filed an Interlocutory Application (IA)
…Catalyst Trusteeship Limited (Applicant/Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Infiiloom India Private Limited (Corporate Debtor).
The application sought commencement of CIRP, appointment of IRP, and declaration of moratorium.
The Corporate Debtor raised funds aggregating to Rs. 260,00,00,000/- by issuing unlisted, secured, redeemable debentures (NCDs and OCDs) on a private placement basis.
The total outstanding amount in default under the Debentures as on 30 March 2026 is Rs. 3,41,32,43,383/-.
The debentures were secured by mortgages, share pledges, corporate and personal guarantees.
The Corporate Debtor failed to pay NCD Cash Coupons due from June 2025.
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Debenture Trust Deeds (NCD DTD, OCD DTD) and…
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Catalyst Trusteeship Limited (Financial Creditor/Applicant) filed an application under Section 7 of the IBC, 2016, against Infiiloom India Private Limited (Corporate Debtor) for the initiation of CIRP due to defaults on debentures (NCDs and OCDs) totaling Rs. 260 Crores. The Corporate Debtor sought multiple deferments for payment obligations, which were granted, but ultimately failed to make payments. The Applicant issued default notices and a recall notice, accelerating the debt. The Corporate Debtor challenged the validity of these notices, the authority of the Applicant, and the jurisdiction of the NCLT, citing ongoing restructuring discussions and a pending commercial suit in the Delhi High Court. The Corporate Debtor also filed an Interlocutory Application (IA)
…Catalyst Trusteeship Limited (Applicant/Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Infiiloom India Private Limited (Corporate Debtor).
The application sought commencement of CIRP, appointment of IRP, and declaration of moratorium.
The Corporate Debtor raised funds aggregating to Rs. 260,00,00,000/- by issuing unlisted, secured, redeemable debentures (NCDs and OCDs) on a private placement basis.
The total outstanding amount in default under the Debentures as on 30 March 2026 is Rs. 3,41,32,43,383/-.
The debentures were secured by mortgages, share pledges, corporate and personal guarantees.
The Corporate Debtor failed to pay NCD Cash Coupons due from June 2025.
…Debenture Trust Deeds (NCD DTD, OCD DTD) and…
Share Pledge A…