IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kaveri Realtors Private Limited, the Corporate Debtor, who acted as a corporate guarantor for Ansal Properties and Infrastructure Limited (APIL). APIL defaulted on loan facilities, leading to the invocation of the guarantee.
IL&FS Financial Services Limited (Financial Creditor/Applicant) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against Kaveri Realtors Private Limited (Corporate Debtor/Respondent).
Kaveri Realtors Private Limited acted as a corporate guarantor for Ansal Properties and Infrastructure Limited (APIL), the Principal Borrower.
APIL was granted term loan facilities of Rs. 50,00,00,000/- and Rs. 100,00,00,000/- by the Applicant.
The Corporate Debtor executed guarantee deeds in favor of the Applicant to secure the repayment of the loan facilities granted to APIL.
APIL defaulted on the loan facilities, leading to the Applicant classifying its account as a Non-Performing Asset (NPA) on 29.09.2018.
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Applicant granted a…
Loan agreeme…
IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kaveri Realtors Private Limited, the Corporate Debtor, who acted as a corporate guarantor for Ansal Properties and Infrastructure Limited (APIL). APIL defaulted on loan facilities, leading to the invocation of the guarantee.
IL&FS Financial Services Limited (Financial Creditor/Applicant) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against Kaveri Realtors Private Limited (Corporate Debtor/Respondent).
Kaveri Realtors Private Limited acted as a corporate guarantor for Ansal Properties and Infrastructure Limited (APIL), the Principal Borrower.
APIL was granted term loan facilities of Rs. 50,00,00,000/- and Rs. 100,00,00,000/- by the Applicant.
The Corporate Debtor executed guarantee deeds in favor of the Applicant to secure the repayment of the loan facilities granted to APIL.
APIL defaulted on the loan facilities, leading to the Applicant classifying its account as a Non-Performing Asset (NPA) on 29.09.2018.
…Applicant granted a…
Loan agreeme…