J.C. Flowers Asset Reconstruction Pvt. Ltd. filed CIRP applications against Imagine Habitat Pvt. Ltd., Imagine Residence Pvt. Ltd., Imagine Home Pvt. Ltd., and Imagine Estate Pvt. Ltd. The applications are based on financial facilities extended by Sammaan Capital Limited (SCL) to RAB Group of Companies, including the Corporate Debtors, and subsequently assigned to J.C. Flowers.
Sammaan Capital Limited (SCL) sanctioned and disbursed loan facilities to RAB Group of Companies, including Imagine Habitat Pvt. Ltd., Imagine Residence Pvt. Ltd., Imagine Home Pvt. Ltd., and Imagine Estate Pvt. Ltd.
The loans were secured by personal guarantees from Mr. Rana Kapoor and Mrs. Bindu Kapoor and a Deed of Hypothecation.
SCL issued a recall notice dated 09.03.2020, recalling the financial facilities due to a 'Material Adverse Effect' on the repayment ability of RAB Promoters.
J.C. Flowers Asset Reconstruction Pvt. Ltd. became the assignee of the loan agreements from SCL.
The Corporate Debtors are hypothecators and obligors under the loan agreements.
The Principal Debtor, Bliss House Private Limited, defaulted on the loan repayment.
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RAB approached Sammaan…
Loan Agreement…
J.C. Flowers Asset Reconstruction Pvt. Ltd. filed CIRP applications against Imagine Habitat Pvt. Ltd., Imagine Residence Pvt. Ltd., Imagine Home Pvt. Ltd., and Imagine Estate Pvt. Ltd. The applications are based on financial facilities extended by Sammaan Capital Limited (SCL) to RAB Group of Companies, including the Corporate Debtors, and subsequently assigned to J.C. Flowers.
Sammaan Capital Limited (SCL) sanctioned and disbursed loan facilities to RAB Group of Companies, including Imagine Habitat Pvt. Ltd., Imagine Residence Pvt. Ltd., Imagine Home Pvt. Ltd., and Imagine Estate Pvt. Ltd.
The loans were secured by personal guarantees from Mr. Rana Kapoor and Mrs. Bindu Kapoor and a Deed of Hypothecation.
SCL issued a recall notice dated 09.03.2020, recalling the financial facilities due to a 'Material Adverse Effect' on the repayment ability of RAB Promoters.
J.C. Flowers Asset Reconstruction Pvt. Ltd. became the assignee of the loan agreements from SCL.
The Corporate Debtors are hypothecators and obligors under the loan agreements.
The Principal Debtor, Bliss House Private Limited, defaulted on the loan repayment.
…RAB approached Sammaan…
Loan Agreement…