J.C. Flowers Asset Reconstruction Pvt. Ltd. (Petitioner/Financial Creditor) filed a Section 7 application under IBC, 2016, to initiate CIRP against Bliss Villa (Delhi) Private Limited (Corporate Debtor). The Corporate Debtor, along with other 'RAB Entities', availed financial facilities from Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) through multiple loan agreements in 2017 and 2019. Personal guarantees were provided by Mr. Rana Kapoor and Ms. Bindu Kapoor. An event of default occurred due to a 'Material Adverse Effect' (criminal investigations and arrest of Mr. Rana Kapoor), leading to a loan recall notice on March 9, 2020. An arbitral award was later passed in favor of the lenders on February 28, 2023, for the outstanding debt. The
…J.C. Flowers Asset Reconstruction Pvt. Ltd. (Petitioner/Financial Creditor) filed a Section 7 application under IBC, 2016, against Bliss Villa (Delhi) Private Limited (Corporate Debtor).
Bliss Villa (Delhi) Private Limited, along with other 'RAB Entities', approached Sammaan Capital Limited (SCL, previously Indiabulls Housing Finance Limited) for financial facilities in 2017 and 2019.
Two Loan Agreements (Loan 1 & Loan 2) were executed on December 7, 2017, for Rs. 68,00,00,000/- and Rs. 57,00,00,000/- respectively.
Another Loan Agreement (Loan 3) was executed on March 29, 2019, for Rs. 70,00,00,000/-.
The date of default was March 14, 2020.
Mr. Rana Kapoor and Ms. Bindu Kapoor provided three Joint Deeds of Personal Guarantee for the loans.
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Bliss Abode Pvt. Ltd. entered into a Loan…
Four other Loan Agreements were entered…
J.C. Flowers Asset Reconstruction Pvt. Ltd. (Petitioner/Financial Creditor) filed a Section 7 application under IBC, 2016, to initiate CIRP against Bliss Villa (Delhi) Private Limited (Corporate Debtor). The Corporate Debtor, along with other 'RAB Entities', availed financial facilities from Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) through multiple loan agreements in 2017 and 2019. Personal guarantees were provided by Mr. Rana Kapoor and Ms. Bindu Kapoor. An event of default occurred due to a 'Material Adverse Effect' (criminal investigations and arrest of Mr. Rana Kapoor), leading to a loan recall notice on March 9, 2020. An arbitral award was later passed in favor of the lenders on February 28, 2023, for the outstanding debt. The
…J.C. Flowers Asset Reconstruction Pvt. Ltd. (Petitioner/Financial Creditor) filed a Section 7 application under IBC, 2016, against Bliss Villa (Delhi) Private Limited (Corporate Debtor).
Bliss Villa (Delhi) Private Limited, along with other 'RAB Entities', approached Sammaan Capital Limited (SCL, previously Indiabulls Housing Finance Limited) for financial facilities in 2017 and 2019.
Two Loan Agreements (Loan 1 & Loan 2) were executed on December 7, 2017, for Rs. 68,00,00,000/- and Rs. 57,00,00,000/- respectively.
Another Loan Agreement (Loan 3) was executed on March 29, 2019, for Rs. 70,00,00,000/-.
The date of default was March 14, 2020.
Mr. Rana Kapoor and Ms. Bindu Kapoor provided three Joint Deeds of Personal Guarantee for the loans.
…Bliss Abode Pvt. Ltd. entered into a Loan…
Four other Loan Agreements were entered…