Catalyst Trusteeship Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ecstasy Realty Private Limited due to default in payment of credit facilities.
The Company Petition was filed on 25.08.2022 under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC).
The Corporate Debtor defaulted on credit facilities amounting to Rs. 1203,55,50,671/-.
The date of default stated to be is 30.06.2022.
The loan was obtained for the construction of a residential cum retail project.
The Financial Creditor issued a recall notice dated 21.07.2022 to the Corporate Debtor.
The Supreme Court allowed the appeal and restored the Company Petition (IB) 922/MB/C-I/2022.
M/s ARCK Resolution Professionals LLP has been appointed as the Interim Resolution Professional (IRP).
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Company Petition filed…
Financial Creditor…
Catalyst Trusteeship Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ecstasy Realty Private Limited due to default in payment of credit facilities.
The Company Petition was filed on 25.08.2022 under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC).
The Corporate Debtor defaulted on credit facilities amounting to Rs. 1203,55,50,671/-.
The date of default stated to be is 30.06.2022.
The loan was obtained for the construction of a residential cum retail project.
The Financial Creditor issued a recall notice dated 21.07.2022 to the Corporate Debtor.
The Supreme Court allowed the appeal and restored the Company Petition (IB) 922/MB/C-I/2022.
M/s ARCK Resolution Professionals LLP has been appointed as the Interim Resolution Professional (IRP).
Company Petition filed…
Financial Creditor…