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
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
suit properties, to one Stressed Assets Stabilisation
Fund ("SASF"). This is Respondent No. 4 to the
present Writ Petition. SASF was brought ... crores to be issued by the SPV
in favour of ARCIL and SASF. Both the NCDs and
OCDs were to be secured in favour
holding that the transaction of sale of movable property
is affected by SASF, especially when the Commissioner
had clearly observed that whether there is sale ... Appellant before us, namely M/s. Stressed Assests
Stabilization Fund (SASF), is a trust set up by the Central Government
pursuant to a Trust Deed
holding that the transaction of sale of movable property
is affected by SASF, especially when the Commissioner
had clearly observed that whether there is sale ... Appellant before us, namely M/s. Stressed Assests
Stabilization Fund (SASF), is a trust set up by the Central Government
pursuant to a Trust Deed
reply to R .No. 15 IDBI Bank Ltd
and R .No. 14 SASF and other Respondents, inspite of
seven such opportunities being given to them ... wrong doers viz.
R.No. 15 IDBI Bank Ltd., R.No. 14 SASF, Vasumati
Talera and others.
(f) That this Hon'ble Court
reply to R .No. 15 IDBI Bank Ltd
and R .No. 14 SASF and other Respondents, inspite of
seven such opportunities being given to them ... wrong doers viz.
R.No. 15 IDBI Bank Ltd., R.No. 14 SASF, Vasumati
Talera and others.
(f) That this Hon'ble Court
IDBI transferred its loan to Stress Assets Stabilisation
Fund [for short, "SASF"], which debts were acquired by the present
Applicant ... assignment from SASF and BOB on 1st December,
2006 and 31st August, 2007 respectively. The Applicant preferred an
application before DRT for being substituted
March, 2007 to the
Stressed Assets Stabilization Fund (SASF). Further payment of Rs.31,74,000/- was
made to SASF ... further sum of Rs.3 Crores wad paid by the Applicant to SASF on 3 rd
May, 2007. The Respondent No.3, in turn, stopped
