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
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
Signature Not Verified
Digitally signed by
NARENDRA PRASAD
The appellant (hereafter “SASF”) is a trust, constituted as
Date: 2019.10.24
17:01:29 IST
Reason ... assignment, unconditionally
transferred all loans and advances granted by it, to SASF,
including the loans and securities in relation to the second
respondent, the company
operating agency, assigned/
transferred its debts to Stressed Assets Stabilization Fund (SASF). On
30.12.2004, ICICI also assigned its debts to the ARCIL and intimation ... Supreme Court on
6.12.2005, it was submitted on behalf of SASF that a final settlement for an
amount of Rs.12.5 crore payable
BEFORE CLB:
i) Respondent No. 8, Stressed Assets Stabilization Fund
(SASF), constituted by the Government of India under a Trust
Deed dated 24.09.2004 for acquisition ... respondent No. 1 had become a Non-Performing Asset (NPA).
ii) SASF submitted that IDBI had earlier sanctioned loans of
Rs. 240 lakhs under
