RAB Group of Companies, promoted by Rana Kapoor and Bindu Kapoor, approached Sammaan Capital Limited (SCL) for loan facilities.

SCL and its subsidiary, Indiabulls Commercial Credit Limited (ICCL), sanctioned and disbursed loan facilities to RAB Group companies, including the Corporate Debtors.

The Corporate Debtors acted as hypothecators and obligors under the loan agreements.

Personal guarantees were provided by Rana Kapoor and Bindu Kapoor.

SCL issued recall notices due to a material adverse effect on the repayment ability of RAB Promoters.

J.C. Flowers Asset Reconstruction Pvt. Ltd. acquired the rights and interests of SCL through an assignment agreement.

The Principal Debtor, Bliss House Private Limited, has already been admitted into CIRP.

RAB Group of Companies, promoted by Rana Kapoor and Bindu Kapoor, approached Sammaan Capital Limited (SCL) for loan facilities.

SCL and its subsidiary, Indiabulls Commercial Credit Limited (ICCL), sanctioned and disbursed loan facilities to RAB Group companies, including the Corporate Debtors.

The Corporate Debtors acted as hypothecators and obligors under the loan agreements.

Personal guarantees were provided by Rana Kapoor and Bindu Kapoor.

SCL issued recall notices due to a material adverse effect on the repayment ability of RAB Promoters.

J.C. Flowers Asset Reconstruction Pvt. Ltd. acquired the rights and interests of SCL through an assignment agreement.

The Principal Debtor, Bliss House Private Limited, has already been admitted into CIRP.