Ontario · Receivership (court-appointed)
Motion Record - Plaintiff - Royal Bank of Canada
Application / notice of application · 23 February 2024
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- secured creditorsnote: Credit Agreement dated August 4, 2021 facilities are facility limits, not balances: Term Facility 004 $713,771.89, revolving demand/overdraft facility $10,000.00, Term Facility 001 $562,074.52, credit card limit $10,000.00; CSBFL Loan (March 3, 2020) $200,000.00. Payment demands and s.244 BIA Notices of Intention to Enforce Security issued September 21, 2023 and expired October 2, 2023; no dollar amount of outstanding indebtedness is stated in the pages provided. Guaranteed by Ravi Soups and Wraps Inc. and 1865994 Ontario Inc. (each limited to $1,312,000.00) and personally by Tharmini Kandasamy (limited to $1,312,000.00 and $50,000.00) - guarantee caps, not balances; guarantors are related corporate entities and an individual (personal guarantor, name only, not a company). · page: 25 · debtor: 1818216 Ontario Inc. (the Borrower) · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: First-ranking PPSA registrations (General Security Agreement dated Feb 14, 2019 and Chattel Mortgage Security Agreement, Standard Form 927); Coronet Road Property Charge, Instrument No. AT5384071 registered March 9, 2020, registered principal $572,000.00; Markham Road Property Charge, Instrument No. AT5552812 registered October 22, 2020, registered principal $720,000.00
- secured creditorsnote: Registered principal amount only; no outstanding balance stated. · page: 26 · debtor: 1818216 Ontario Inc. (the Borrower) · creditor: Rajinder Singh Pahal · currency: CAD · security: Second mortgage on Markham Road Property, Instrument No. AT5853175 registered September 8, 2021, registered principal $400,000.00
- secured creditorsnote: Deemed trust class (CRA); no amount stated for this registration. · page: 26 · as of: 2023-10-03 · debtor: 1818216 Ontario Inc. (the Borrower) · creditor: His Majesty the King in Right of Canada as Represented by the Minister of National Revenue (CRA) · currency: CAD · security: Tax lien, Instrument No. AT6432851, registered October 3, 2023 on PIN 76799-0001 (LT) of the Markham Road Property
- secured creditorsnote: Deemed trust class (excise tax). · page: 26 · as of: 2023-11-20 · amount: 96967 · debtor: 1818216 Ontario Inc. (the Borrower) · creditor: His Majesty the King in Right of Canada as Represented by the Minister of National Revenue (CRA) · currency: CAD · security: Excise tax lien, Instrument No. AT6462949, registered November 20, 2023 on PIN 76799-0001 (LT) of the Markham Road Property
- secured creditorsnote: Amount of lien not stated. · page: 26 · as of: 2023-11-30 · debtor: 1818216 Ontario Inc. (the Borrower) · creditor: Toronto Standard Condominium Corporation No. 2799 · currency: CAD · security: Certificate of lien, Instrument No. AT6469352, registered November 30, 2023 on PINs 76799-0001 (LT) and 76799-0002 (LT) of the Markham Road Property
- secured creditorsnote: Combined tax arrears for both Real Properties, not broken down by property in the document. · page: 27 · as of: 2023-09-19 · amount: 54815.51 · debtor: 1818216 Ontario Inc. (the Borrower) · creditor: City of Toronto · currency: CAD · security: Statutory municipal realty tax arrears against the Coronet Road Property and the Markham Road Property
- secured creditorsnote: Amount is the sum stated in the Notice of Sale dated July 12, 2023 for the Coronet Road Property; registered mortgage principal amount was $300,000.00. · page: 27 · as of: 2023-07-12 · amount: 539374.85 · debtor: 1818216 Ontario Inc. (the Borrower) · creditor: Daljit Singh Banga · currency: CAD · security: Second mortgage on Coronet Road Property, Instrument No. AT5499434 registered August 19, 2020, registered principal $300,000.00; also a Notice under Section 71 of the Land Titles Act, Instrument No. AT5798689, registered July 14, 2021