JUDGEMENT

ASHOK BHUSHAN, J. This Appeal has been filed by the Promoter of the Corporate Debtor – M/s Renaissance Indus Infra Pvt. Ltd. challenging the order dated 31.03.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Court No. V admitting Section 7 application filed by the Financial Creditor – Catalyst Trusteeship Ltd. The Appellant, aggrieved by the order, has come up in this Appeal. Brief facts of the case necessary to be noticed for deciding this Appeal are:

i.

The Corporate Debtor and Altico entered and executed term sheet for a loan amount of Rs.650,00,00,000/- on 11.06.2018. On 21.06.2018, Debenture Trustee Appointment Agreement executed where Vistra ITCL was appointed as the Debenture Trustee. On 26.06.2018, a Debenture Trustee Document was executed between the Corporate Debtor, Promoters and Vistra ITCL under which 390 unlisted, secured, redeemable non- convertible debentures of aggregate value of Rs.390,00,00,000 were issued by the Corporate Debtor.

ii.

An Assignment Agreement dated 04.03.2021 was issued by Altico in favour of Respondent No.1 - Catalyst Trusteeship Ltd. and other.

-3- Company Appeal (AT) Insolvency No. 4