Jammu & Kashmir Bank Limited sanctioned a Corporate Loan of Rs. 200 Crores and a Bank Guarantee Facility of Rs.30 Crores in favor of Pan India Network Private Limited (“PINPL”).

Existing collateral securities were replaced by pari-passu charge on non agricultural land situated in Bhayander and later by Pari- passu charge on land measuring 196.16 acres located at Gorai Village.

The Appellant sanctioned two Term Loan of Rs. 100 Crores to the Corporate Debtor.

EIL demerged and another entity, i.e., Essel Urban Infrastructures Private Limited ("EUIPL") was created.

EUIPL was merged into the Corporate Debtor, i.e., PIIPL.

The Liquidator admitted the claim of the Appellant as Unsecured Financial Creditor.

Jammu & Kashmir Bank Limited sanctioned a Corporate Loan of Rs. 200 Crores and a Bank Guarantee Facility of Rs.30 Crores in favor of Pan India Network Private Limited (“PINPL”).

Existing collateral securities were replaced by pari-passu charge on non agricultural land situated in Bhayander and later by Pari- passu charge on land measuring 196.16 acres located at Gorai Village.

The Appellant sanctioned two Term Loan of Rs. 100 Crores to the Corporate Debtor.

EIL demerged and another entity, i.e., Essel Urban Infrastructures Private Limited ("EUIPL") was created.

EUIPL was merged into the Corporate Debtor, i.e., PIIPL.

The Liquidator admitted the claim of the Appellant as Unsecured Financial Creditor.