Mahindra Investments (AB) Ltd., Mahindra Jewellers (AB) Ltd., Surrey Gold Jewellers (AB) Ltd. and Bluewater (786) Contractors Ltd. have been under interim receivership since April 3, 2025, when the Court of King's Bench of Alberta appointed BDO Canada Limited as Interim Receiver on the application of Royal Bank of Canada. The appointment was made under section 47(1) of the Bankruptcy and Insolvency Act, RSC 1985, c. B-3, and the proceeding is carried under court file no. 2503-06252. The matter remains active.
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The court granted an approval and vesting order for the sale to Baljor Singh Dhillon. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser (or its nominee), in the form of Schedule A, certifying payment of the Purchase Price, satisfaction or waiver of the closing conditions in section 5 of the Sale Agreement, and completion of the Transaction to the Receiver's satisfaction. Sealed: Confidential Supplement to the Sixth Report of the Receiver, to which the Sale Agreement is appended.
The officer filed report no. Sixth Report of the Receiver. The Receiver is realizing the remaining real estate of Investments, with the sale of Units 171, 175 and 179 awaiting Court approval, and has completed the Bonhams jewellery auction and distributions to CRA and RBC. Jewellers was placed in bankruptcy in December 2025, and the Receiver expects RBC to be repaid in full.
The officer filed report no. Fifth Report of the Receiver. The receivership is in its realization phase: the Receiver is continuing Bonhams auctions of select jewellery, has completed refining of certain jewellery, is marketing the remaining Calgary property and administering the tenanted High River Property, with the High River sale expected to close in early January 2026. Jewellers was petitioned into bankruptcy on December 17, 2025.
The officer filed report no. Fourth Report. Receiver is selling the remaining real estate (High River Property sale awaiting Court approval; Calgary property still being marketed) and continuing to have select jewellery inventory auctioned through Bonhams. Jewellers and Investments cash is held by the Receiver, and RBC is expected to be repaid in full while the Jewellers estate is expected to end in a negative equity position.
The court granted an approval and vesting order for the sale to 1922725 Alberta Ltd. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser (or its nominee) confirming payment of the Purchase Price, satisfaction or waiver of the section 4 closing conditions, and completion of the Transaction. Sealed: The Sale Agreement is appended to the Confidential Supplement to the Third Report of the Receiver.
The court granted an approval and vesting order for the sale to Simran Exclusive Calgary Ltd. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's certificate to the Purchaser (or its nominee) in the form of Schedule 'A'. Sealed: Sale Agreement appended to the Confidential Supplement to the Third Report of the Receiver.
The officer filed report no. Third Report. The Receiver is liquidating the Companies' assets: gold jewellery was melted for about $1.3 million net proceeds, silver melting and a Bonhams auction are ongoing, and it is selling Investments' real estate units while seeking forfeiture of a failed purchaser's $100,000 deposit. The Companies have no ongoing operations.
The court granted an approval and vesting order for the sale to Guardian International Gold Corp. Closing terms, as extracted: Vesting of the Assets in the Purchaser (or its nominee) is effective upon delivery by the Receiver of the Receiver's Closing Certificate confirming payment of the Price.
The court granted an approval and vesting order for the sale to 2730496 Alberta Inc. Closing terms, as extracted: Vesting is effective upon delivery of the Receiver's Closing Certificate confirming payment of the Purchase Price, satisfaction or waiver of closing conditions in section 4 of the Sale Agreement, and completion of the Transaction to the Receiver's satisfaction. Sealed: Sale Agreement appended to the Confidential Supplement to the Second Report of the Receiver.
The court granted an approval and vesting order for the sale to 2670827 Alberta Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser (or its nominee), confirming payment of the Purchase Price, satisfaction or waiver of closing conditions, and completion of the Transaction. Sealed: The Sale Agreement is appended to the Confidential Supplement to the First Report of the Receiver.
The officer filed report no. First Report of the Receiver. The Companies have no active operations under the Receiver; Jewellers' retail location was cleared of inventory (now in secure storage) and is under fire remediation, while the Receiver markets Investments' real estate and plans to melt or auction the jewellery inventory.
The officer filed report no. First Report of the Interim Receiver. Jewellers' Edmonton store was secured and its jewellery inventory moved to off-site storage, while the Calgary and High River commercial units are being managed or monitored by the Interim Receiver. The principals have not cooperated, no books and records have been obtained, and insurance coverage over contents is unconfirmed. A fire at the Edmonton complex on April 8, 2025 (cause reported as arson) has left the premises inaccessible.
Order pronounced appointing BDO Canada Limited interim receiver of the four debtor companies under s. 47(1) of the BIA, on Royal Bank of Canada's application.
Royal Bank of Canada (first mortgage, 171/175/179-5120 47 St NE, Calgary; Mortgage Instrument No. 221 109 362; Loan a/c 76969055 015) · in 574 casesFirst mortgage on Condominium Plan 0010657 Units 15, 16 and 17 (171, 175, 179-5120 47 St NE, Calgary); statement shows fixed rate 8.20%, monthly blended payment $10,262.95 — Amount is the closing principal balance per RBC loan statement for period Dec 31, 2024 - Jan 31, 2025; statement does not reflect accrued but unpaid interest. Same figure was the opening balance at Dec 31, 2024 (no activity in period). Solicitor letter of Mar 25, 2025 requests a payout/discharge statement as property is being sold, so the current payout figure is not stated. — debtor: Mahindra Investments (AB) Ltd. · as of 31 Jan 2025
$1.26M
Affidavit of Jasdeep Chohan, sworn March 27, 2025 (Part 2 of 2)
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Unsecured
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9 more claims in 2 classes The stack holds Secured and Unsecured claims.
2670827 Alberta Inc.the Debtor's right, title and interest in and to the lands described in the Sale Agreement (Condominium Plan 2010546 Unit 47 and Unit 48) · real property · nominee/assignee: its nominee · agreement 18 Jun 2025
2730496 Alberta Inc.lands and personal property described in the Sale Agreement (Condominium Plan 2010546 Units 87/90 and 88/85, plus a black guardian safe and built-in safe) · real property · nominee/assignee: its nominee (unnamed) · agreement 23 Jul 2025
Guardian International Gold Corp.any Jewellery (as defined in the Guardian Agreement) delivered [the Assets]; the Abandoned Jewellery · asset sale · agreement 9 Jul 2025
purchasers of assets sold by Bonhams (consignment/auction sales), unnamed; each takes vesting as 'a Purchaser'any Assets of the Debtor sold by Bonhams under the Master Consignment Agreement · auction
purchaser of Unit 3, the property at 9258 34th Ave NW, Edmonton; name not shownthe property located at 9258 34th Ave NW in Edmonton (Unit 3) · real property
purchaser of the property at 133 5th Avenue SW, High River; conditional on financing; name not shownthe property located at 133 5th Avenue SW in High River · real property
1922725 Alberta Ltd.the Debtor's right, title and interest in the lands legally described as Condominium Plan 0424262 Unit 3 and 450 undivided one ten thousandth shares in the common property (the Lands) · real property · nominee/assignee: its nominee (unnamed) · agreement 25 Sep 2025
Simran Exclusive Calgary Ltd.the Debtor's right, title and interest in the lands and personal property described in the Sale Agreement (Condominium Plan 2010546 Units 87, 88 and related common property shares, plus a Black Guardian Safe and a built-in safe) · real property · nominee/assignee: its nominee (unnamed) · agreement 6 Oct 2025
Binaya Vitharana and Nimali Shirmila Vitharanathe High River Property (133 5th Avenue SW, High River) on an 'as is, where is' basis · real property · agreement 26 Sep 2025
purchaser of Units 47 and 48, unnamedUnits 47 and 48, two adjoining condominium bays totalling 2,685 square feet · real property · agreement 18 Jun 2025
Baljor Singh Dhillonthe Debtor's right, title and interest in and to the Lands (Condominium Plan 0010657 Units 15, 16 and 17) · real property · nominee/assignee: its nominee · agreement 13 May 2026
AdvisorsRoyal LePage (listing broker); Bonhams & Butterfields Auctioneers Corp. (auctioneer); Bonhams Canada (auctioneer); Guardian International Gold Corp (liquidator)Receiver’s Third Report, dated October 27, 2025
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser (or its nominee), in the form of Schedule A, certifying payment of the Purchase Price, satisfaction or waiver of the closing conditions in section 5 of the Sale Agreement, and completion of the Transaction to the Receiver's satisfaction.Sale Approval and Vesting Order (Unit 15 to 17), granted July 16, 2026
Sealed materialsThe Sale Agreement is appended to the Confidential Supplement to the First Report of the Receiver; Sale Agreement appended to the Confidential Supplement to the Second Report of the Receiver; The Sale Agreement is appended to the Confidential Supplement to the Third Report of the Receiver; Sale Agreement appended to the Confidential Supplement to the Third Report of the Receiver; Confidential Supplement to the Sixth Report of the Receiver, to which the Sale Agreement is appendedSale Approval and Vesting Order (Unit 47 and Unit 48), granted June 30,…
RecoveriesAs declared or paid
Unsecured creditors: shortfall. RBC paid in full · Yes Plan Auto Finance Inc. a distribution · CRA paid in full.EstimatedReceiver’s Fourth Report · 1 Dec 2025
Class
Creditor
Claims
Recovery
Basis
Source
SecuredSecond Mortgagee (second-ranking mortgage over Units 47 and 48)
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
4 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
Sale Approval and Vesting Order (Unit 15 to 17), granted July 16, 2026
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser (or its nominee), in the form of Schedule A, certifying payment of the Purchase Price, satisfaction or waiver of the closing conditions in section 5 of the Sale Agreement, and completion of the Transaction to the Receiver's satisfaction.
Order date16 July 2026
Presiding officerJustice J.J. Gill
PurchaserBaljor Singh Dhillon · nominee/assignee its nominee · the Debtor's right, title and interest in and to the Lands (Condominium Plan 0010657 Units 15, 16 and 17) · real property · approved
Operational summaryThe receivership is in its realization phase: the Receiver is continuing Bonhams auctions of select jewellery, has completed refining of certain jewellery, is marketing the remaining Calgary property and administering the tenanted High River Property, with the High River sale expected to close in early January 2026. Jewellers was petitioned into bankruptcy on December 17, 2025.
Cash on hand · Disbursements · Financial positionSubscribers
Sale Approval and Vesting Order (Unit 3) granted on November 5, 2025
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser (or its nominee) confirming payment of the Purchase Price, satisfaction or waiver of the section 4 closing conditions, and completion of the Transaction.
Order date5 November 2025
Presiding officerJustice J.T. Neilson
Purchaser1922725 Alberta Ltd. · nominee/assignee its nominee (unnamed) · the Debtor's right, title and interest in the lands legally described as Condominium Plan 0424262 Unit 3 and 450 undivided one ten thousandth shares in the common property (the Lands) · real property · approved
Sale and Approval Vesting Order (Unit 87 and Unit 88), granted November 5, 2025
Closing termsVesting occurs upon delivery of the Receiver's certificate to the Purchaser (or its nominee) in the form of Schedule 'A'.
Order date5 November 2025
Presiding officerJustice J.T. Neilson
PurchaserSimran Exclusive Calgary Ltd. · nominee/assignee its nominee (unnamed) · the Debtor's right, title and interest in the lands and personal property described in the Sale Agreement (Condominium Plan 2010546 Units 87, 88 and related common property shares, plus a Black Guardian Safe and a built-in safe) · real property · approved
Sale Approval and Vesting Order (Bonhams Agreement), granted August 14, 2025
Order date14 August 2025
Presiding officerJustice G.S. Dunlop
Purchaserpurchasers of assets sold by Bonhams (consignment/auction sales), unnamed; each takes vesting as 'a Purchaser' · any Assets of the Debtor sold by Bonhams under the Master Consignment Agreement · auction · approved
Sale Approval and Vesting Order (Ford Unit), granted August 14, 2025
Order date14 August 2025
Presiding officerJustice G.S. Dunlop
PurchaserCargiant Motors Ltd. · a 2022 Ford F-150 serial number 1FTEW1EB1NFA75654 · asset sale · approved
Sale outcomeSale approved — Court-appointed Receiver of Mahindra Jewellers (AB) Ltd. obtained an order vesting title in a 2022 Ford F-150 in Cargiant Motors Ltd. free and clear of encumbrances.
Sale Approval and Vesting Order (Guardian Agreement), granted August 14, 2025
Closing termsVesting of the Assets in the Purchaser (or its nominee) is effective upon delivery by the Receiver of the Receiver's Closing Certificate confirming payment of the Price.
Order date14 August 2025
Presiding officerJustice G.S. Dunlop
PurchaserGuardian International Gold Corp. · any Jewellery (as defined in the Guardian Agreement) delivered [the Assets]; the Abandoned Jewellery · asset sale · approved
Sale Approval and Vesting Order (Unit 87 and Unit 88), granted August 14, 2025
Closing termsVesting is effective upon delivery of the Receiver's Closing Certificate confirming payment of the Purchase Price, satisfaction or waiver of closing conditions in section 4 of the Sale Agreement, and completion of the Transaction to the Receiver's satisfaction.
Order date14 August 2025
Presiding officerJustice G.S. Dunlop
Purchaser2730496 Alberta Inc. · nominee/assignee its nominee (unnamed) · lands and personal property described in the Sale Agreement (Condominium Plan 2010546 Units 87/90 and 88/85, plus a black guardian safe and built-in safe) · real property · approved
Sale advisorBonhams & Butterfields Auctioneers Corp. (auctioneer)
Sale outcomeSale process approved — The Receiver and Bonhams & Butterfields Auctioneers Corporation executed a Master Consignment Agreement dated July 29, 2025, under which the Property is to be offered for sale in one or more Bonhams auctions; the agreement is subject to a court approval order of the Court of King's Bench of Alberta.
Sale Approval and Vesting Order (Unit 47 and Unit 48), granted June 30, 2025
Closing termsVesting occurs upon delivery of the Receiver's Closing Certificate to the Purchaser (or its nominee), confirming payment of the Purchase Price, satisfaction or waiver of closing conditions, and completion of the Transaction
Order date30 June 2025
Presiding officerJustice J.J. Gill
Purchaser2670827 Alberta Inc. · nominee/assignee its nominee · the Debtor's right, title and interest in and to the lands described in the Sale Agreement (Condominium Plan 2010546 Unit 47 and Unit 48) · real property · approved
Operational summaryThe Companies have no active operations under the Receiver; Jewellers' retail location was cleared of inventory (now in secure storage) and is under fire remediation, while the Receiver markets Investments' real estate and plans to melt or auction the jewellery inventory.
Cash on hand · Disbursements · Financial positionSubscribers
Interim Receiver First Report, dated April 16, 2025
Operational summaryJewellers' Edmonton store was secured and its jewellery inventory moved to off-site storage, while the Calgary and High River commercial units are being managed or monitored by the Interim Receiver. The principals have not cooperated, no books and records have been obtained, and insurance coverage over contents is unconfirmed. A fire at the Edmonton complex on April 8, 2025 (cause reported as arson) has left the premises inaccessible.
Cash on hand · Disbursements · Financial positionSubscribers
Sources last checked · summary updated 29 September 2026 · Report a correction · Printed from proceedings.ca/case/mahindra-group-of-companies-alberta
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.