Tulsi Ventures Ltd. and Tulsi Enterprises Ltd. were placed in court-appointed receivership on February 19, 2026, when the Supreme Court of British Columbia appointed Crowe MacKay & Company Ltd. receiver and manager under section 243(1) of the Bankruptcy and Insolvency Act and section 39 of the Law and Equity Act on the application of National Bank of Canada. The bank, successor to Canadian Western Bank by amalgamation, advanced mortgage principal of $9,413,260.00 under a commitment letter dated September 22, 2022 as amended July 29, 2025, and stated indebtedness of $9,030,234.70 as at January 27, 2025, exclusive of legal costs, with interest accruing at 5.79% per annum compounded monthly. Its security includes a mortgage granted by Ventures, general security agreements from both companies, and guarantees from Dinesh Dholliwar and Komal Dinesh Dholliwar. The proceeding is active in court file H260133.
The Supreme Court of British Columbia appointed Crowe MacKay & Company Ltd. receiver and manager of both companies on National Bank of Canada's application, opening the receivership.
Source: Entered Receivership Order (Dated Feb 19, 2026, Entered April 28, 2026)
Response to Petition of the Respondents Filed February 17, 2026 — Response / objection pleading
Debtor
Tulsi Ventures Ltd. and Tulsi Enterprises Ltd.
Receiver
Crowe MacKay
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | National Bank of Canada (successor to Canadian Western Bank by amalgamation) · in 87 casesMortgage over real property granted by Ventures; general security agreements granted by Ventures and Enterprises charging all present and after-acquired personal property; guarantees given by the Guarantors — Original mortgage loan principal advanced was $9,413,260.00 under commitment letter dated September 22, 2022 as amended July 29, 2025; indebtedness figure of $9,030,234.70 is exclusive of legal costs; interest accrues at 5.79% per annum compounded monthly; personal guarantees given by individual guarantors Dinesh Dholliwar and Komal Dinesh Dholliwar — debtor: Tulsi Ventures Ltd. (borrower · as of 27 Jan 2025 | $9.03M | Notice of Application Filed Feb 2, 2026 |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
| Date | Document | File |
|---|---|---|
Entered Receivership Order (Dated Feb 19, 2026, Entered April 28, 2026)
| ||
| Response to Petition of the Respondents Filed February 17, 2026 | ||
| Affidavit #1 of Dinesh Dholliwar Filed February 16, 2026 | ||
| Affidavit #1 of Vera Watson Filed Feb 2, 2026 | ||
Affidavit #1 of Zhao (Vivienne) Zhang Filed Feb 2, 2026
| ||
Notice of Application Filed Feb 2, 2026
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Tulsi Ventures Ltd. and Tulsi Enterprises Ltd.” (Receivership (court-appointed)), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/tulsi-ventures-ltd-and-tulsi-enterprises-ltd
Sources last checked · summary updated 1 September 2026 · Report a correction · Printed from proceedings.ca/case/tulsi-ventures-ltd-and-tulsi-enterprises-ltd
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.