IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Katra Realtors Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). Katra Realtors Private Limited is a corporate guarantor for a loan taken by Ansal Properties and Infrastructure Limited (APIL).
IL&FS Financial Services Limited (Financial Creditor) filed a petition under Section 7 of the IBC against Katra Realtors Private Limited (Corporate Debtor).
Katra Realtors Private Limited is a corporate guarantor for a loan taken by Ansal Properties and Infrastructure Limited (APIL).
APIL defaulted on a loan of Rs. 50,00,00,000/- granted by IL&FS Financial Services Limited.
A deed of guarantee was executed by Katra Realtors 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 agreed payment schedule.
The Corporate Debtor defaulted in making payment of the outstanding amount of Rs. 23,07,38,282/-.
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Sanction letter bearing no. D/OTL/16/89…
Loan agreement and deed…
IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Katra Realtors Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). Katra Realtors Private Limited is a corporate guarantor for a loan taken by Ansal Properties and Infrastructure Limited (APIL).
IL&FS Financial Services Limited (Financial Creditor) filed a petition under Section 7 of the IBC against Katra Realtors Private Limited (Corporate Debtor).
Katra Realtors Private Limited is a corporate guarantor for a loan taken by Ansal Properties and Infrastructure Limited (APIL).
APIL defaulted on a loan of Rs. 50,00,00,000/- granted by IL&FS Financial Services Limited.
A deed of guarantee was executed by Katra Realtors 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 agreed payment schedule.
The Corporate Debtor defaulted in making payment of the outstanding amount of Rs. 23,07,38,282/-.
…Sanction letter bearing no. D/OTL/16/89…
Loan agreement and deed…