agreement with the Stressed Assets Stabilisation Fund (hereinafter referred to as SASF) by which the IDBI Bank assigned/transferred to SASF the financial assistance granted ... borrower together with all securities and all rights in respect thereof. SASF issued an advertisement in "The Economic Times" calling for "Expression
Company in liquidation. Respondent No.2, Stressed Assets
Stabilization Fund (SASF) is a company constituted by the
Government of India vide Trust Deed dated 24th ... application made, in the order dated 25th January, 2007, on behalf
of SASF it was stated that it was a secured creditor and it would
assigned the said loan to Stressed Asset Stabilisation Fund (in
short 'SASF'), which in turn assigned the entire loan with interest
and security ... Assignment
Agreement dated 17.1.2007, whereby the Appellant stepped into
the shoes of SASF and became a secured financial creditor of the
Respondent. It is further
filed by
the Financial Creditor- Stressed Asset Stabilization Fund (in short
'SASF') against the 'Corporate Debtor'- IC Textiles Limited ... holder of the said
debts. He has claimed that Respondent No. 1- SASF, which is a
financial creditor, had entered into a 'One Time
dated September 30, 2004, Central
government had notified Stressed Assets Stabilisation Fund (SASF)
to take over and/or acquire the stressed assets of IDBI.
Consequently ... mortgaged securities in connection
with the loan granted to the respondent to SASF.
14. SASF had filed a proceeding under section 19 of the Recovery
Digitally signed AND:
by
LEELAVATHI S 1. STRESSED ASSETS STABILIZATION FUND -SASF
R
3RD FLOOR, IDBI TOWER, WTC COMPLEX,
Location: HIGH
COURT OF CUFFE PARADE ... SECTION 468 OF THE
COMPANIES ACT, 1956 PRAYING TO A) DIRECT THE SASF,
MUMBAI TO HAND OVER THE POSSESSION OF THE SUBJECT
PROPERTY ALONG WITH
first charge holder
secured creditors namely GSFC, GIIC,
SASF and Workers' Union of Company in
liquidation in proportionate as per
the ratio recommended ... Corporation
(GIIC)
4 Stressed Assets 2,04,98,95,264/-
Stabilization
Fund(SASF) Unit of
IDBI Bank Ltd
5 Central Bank of India
Petitioner
----
Mr. Mahendhar Aithe, Company Prosecutor present.
Mr. Sunil Kadam for SASF.
----
CORAM : K.R.SHRIRAM, J.
DATED : 16th MARCH 2021
P.C. :
1 Heard ... Official
Liquidator's Report.
2 I have to also observe that SASF has, in its letter dated
5th November 2020, made some unacceptable comments
Stressed Asset Stabilization Fund Sasf vs Sri Vishnu Priya Industries Ltd. In ... on 29 October, 2024
THE HON'BLE JUSTICE MOUSHUMI BHATTACHARYA
COMPANY APPLICATION ... terms of the admitted fact of the
Assignment Agreement dated 31.08.2024 whereby SASF assigned the
outstanding debts of the Company in Liquidation in favour
MATTER OF:
Stressed Assets Stabilization Fund (SASF) ... Appellant
Vs
Piyush Periwal & Ors. ... Respondents
Present:
For Appellant: Mr. Ritin Rai, Sr. Advocate, Mr. Sidhartha Barua ... MATTER OF:
Stressed Assets Stabilization Fund (SASF) ...Appellant
Versus
Madhulika Periwal & Ors. ...Respondents
(Substituted vide order
dt. 09.01.2024 in IA No.5651/2023)
Present
