IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Kushmanda Properties Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP).
IL&FS Financial Services Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Kushmanda Properties Private Limited (Corporate Debtor).
The Corporate Debtor is a Corporate Guarantor to the Principal Borrower, Ansal Properties and Infrastructure Limited (APIL).
APIL defaulted on a term loan facility of Rs.100,00,00,000/- granted by the Applicant.
The Corporate Debtor executed a deed of guarantee dated 03.07.2017 in favor of the Applicant.
APIL made settlement proposals to the Applicant, but the settlement failed.
The Applicant issued a notice of demand dated 09.09.2024 calling upon the Corporate Debtor to make a payment of Rs.234,35,74,411/-.
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Applicant granted a term loan facility of…
The Corporate Debtor…
IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Kushmanda Properties Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP).
IL&FS Financial Services Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Kushmanda Properties Private Limited (Corporate Debtor).
The Corporate Debtor is a Corporate Guarantor to the Principal Borrower, Ansal Properties and Infrastructure Limited (APIL).
APIL defaulted on a term loan facility of Rs.100,00,00,000/- granted by the Applicant.
The Corporate Debtor executed a deed of guarantee dated 03.07.2017 in favor of the Applicant.
APIL made settlement proposals to the Applicant, but the settlement failed.
The Applicant issued a notice of demand dated 09.09.2024 calling upon the Corporate Debtor to make a payment of Rs.234,35,74,411/-.
…Applicant granted a term loan facility of…
The Corporate Debtor…