Page 163 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
Hon’ble NCLT Principal Bench

10. The details of the security interest have also been given in Part V in respect of RTL Facility which are

set out below:-

first charge on Corporate Debtor's all bank accounts including but not limited to escrow account/trust and

retention accounts, debt service reserve account, which consists of operating cash flow, treasury income
and revenue/ receivables of the Corporate Debtor; and

second charge on the all current assets of the Corporate Debtor (subject to first charge created/ to be
created in favour of working capital lenders).

11. The estimated value of the aforementioned securities (except the corporate and personal guarantees) is
approximately Rs. 138,94,16,800 (Rupees One Hundred Thirty Eight Crore Ninety

Four Lakh Sixteen Thousand and Eight Hundred). A copy of the valuation report has also been placed on
record (Exhibit - 15).

12. The copies of the Original Facility Agreement, Amendatory Facility Agreement, WC Agreement and
the sanction letter have been placed on record (Exhibits - 3, 4, 5, 22 and 23)

13. A record of default is also available with the Credit Information Companies like the status
classification report of the `Corporate Debtor' issued by the TransUnion CIBIL dated 28.02.2016 (Exhibit
- 16). Likewise, Entries in Bankers Book in accordance with the Bankers Books Evidence Act, 1891 has

also been placed on record which relate to the facilities (Exhibit - 17).

14. The 'financial creditor' has then attached a list of other documents to the application to prove the

financial debt, the total amount due and the date of default. Those documents are as under:-

a) A copy of Acceleration Notice dated March 2, 2017 by BoB to the 'Corporate Debtor' calling upon

the `Corporate Debtor' to repay the default amount within seven days of the date of the notice;

b) A copy of reporting of the account of the 'Corporate Debtor' as SMA - II account with the Central

Repository of Information on Large Credits (CRILC)

c) A copy of the acknowledgment letter dated April 15, 2016 by the Corporate Debtor to BoB in

respect of acknowledgement of debt by the Corporate Debtor;

d) Copies of the letters dated August 6, 2016, August 17, 2016 and September 26, 2016 by Bob to the

`Corporate Debtor' indicating persistent overdoes;

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