IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Katra Real Estates Private Limited, a corporate guarantor, for defaulting on a financial debt.
IL&FS Financial Services Limited (Financial Creditor) filed a petition under Section 7 of the IBC against Katra Real Estates Private Limited (Corporate Debtor).
Katra Real Estates Private Limited is a corporate guarantor for Ansal Properties and Infrastructure Limited (APIL).
APIL defaulted on a term loan facility of Rs. 50,00,00,000/- granted by IL&FS Financial Services Limited.
A deed of guarantee was executed by Katra Real Estates Private Limited in favor of IL&FS Financial Services Limited on 18.03.2016.
APIL made settlement proposals to the Applicant, but failed to adhere to the settlement agreement.
IL&FS Financial Services Limited issued a notice of demand to Katra Real Estates Private Limited on 09.09.2024 for Rs. 23,07,38,282/-.
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Applicant granted a term loan facility of…
Loan agreement was executed, and the Corporate…
IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Katra Real Estates Private Limited, a corporate guarantor, for defaulting on a financial debt.
IL&FS Financial Services Limited (Financial Creditor) filed a petition under Section 7 of the IBC against Katra Real Estates Private Limited (Corporate Debtor).
Katra Real Estates Private Limited is a corporate guarantor for Ansal Properties and Infrastructure Limited (APIL).
APIL defaulted on a term loan facility of Rs. 50,00,00,000/- granted by IL&FS Financial Services Limited.
A deed of guarantee was executed by Katra Real Estates Private Limited in favor of IL&FS Financial Services Limited on 18.03.2016.
APIL made settlement proposals to the Applicant, but failed to adhere to the settlement agreement.
IL&FS Financial Services Limited issued a notice of demand to Katra Real Estates Private Limited on 09.09.2024 for Rs. 23,07,38,282/-.
…Applicant granted a term loan facility of…
Loan agreement was executed, and the Corporate…