| Deal No | ED-1 |
| Business Domain | Educational |
| Sub-Domain | Multi Disciplinary college |
| Geographical Location of Asset | Gurgaon (Haryana) |
| Reason for Stress | The promoter was a realestate developer as well and in order to tide over some short term crisis in one of his group housing projects, he diverted funds from the institute. Thereby resulting in a cash crunch in the institute, and as luck would have it the residential project ran into further troubles and the diverted money was never returned. Thereby the project became an NPA and was subsequently taken over by the banks. |
| Price Range/Ticket Size | Rs.28Cr |
| Debt | Rs.35Cr |
| Value of Associated Real Estate | Rs.48Cr |
| Details of Secured Creditors | The asset was mortgaged to the Bank, which in turn has now taken physical possession under the SARFAESI Act and has even tried for auction of the same. The auction was not successful as the bidder wanted the affiliations to be transferred to him as well, which the banks were unable to commit. |
| Details of Other Liabilities | No other liabilities |
| Litigations | The buyer will get the asset under a private treaty with the bank and the promoter of the trust. The buyer will also get the affiliations transferred in his favor so that he may be able to run the institute smoothly without any gestation. |
| Additional Information | For Premium Members Only |
| Ways to unlock potential | For Premium Members Only |
| Exit Strategy | For Premium Members Only |
| Name of Owner | For Premium Members Only |
College, Deals, Educational
EDUCATIONAL INSTITUTE
₹28.00
The promoter was a realestate developer as well and in order to tide over some short term crisis in one of his group housing projects, he diverted funds from the institute. Thereby resulting in cash crunch in the institute, and as luck would have it the residential project ran into further troubles and the diverted money was never returned. Thereby the project became an NPA and was subsequently taken over by the banks.
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