Ontario · Receivership (court-appointed)
Application Record - Part 2, dated September 24, 2025
Application / notice of application · 24 September 2025
What we verified from this filing4 verified
- secured creditorsnote: No balance/facility amount stated in the pages reviewed; appears to be a separate equipment-leasing facility from the CWB credit facilities. Guarantors are individuals (related parties/principals of Eli). · page: 24 · debtor: Eli Logistics Solutions Inc. · creditor: Canadian Western Bank Leasing Inc. · currency: CAD · security: Full Liability Guarantees from Eli Logistics Solutions Inc.'s principals, Tinu Pakkath Cherian and Shaik E. Rahimuddin, guaranteeing all indebtedness of Eli to CWL
- secured creditorsnote: Amount is the Indebtedness figure acknowledged by the Borrowers in a Forbearance Agreement as owing under the Commitment Letters and Security as at April 15, 2025 (excludes legal costs and other fees/amounts, which accrue in addition). Borrowers acknowledged default and receipt of demand letters and BIA s.244(1) notices dated March 7, 2025. Personal guarantees also given by Tinu Pakkath Cherian and Shaik E. Rahimuddin (individuals - guarantors, not creditors). 'Lender'/'Bank' identified as Canadian Western Bank based on the CWB-form guarantees and security instruments referenced throughout. · page: 134 · as of: 2025-04-15 · amount: 24859221.54 · debtor: 1000160645 Ontario Inc. ("645"), 2679933 Ontario Inc. ("933"), and Eli Logistics Solutions Inc. ("Eli") - collectively "Borrowers" · creditor: Canadian Western Bank · currency: CAD · security: General Security Agreements over all present and after-acquired personal property of each Borrower; Demand Note by 645 ($10,000,000 principal); Demand Collateral Mortgage (First Charge) of $10,000,000 registered against 2700 Central Avenue, Windsor, Ontario (owned by 645); Demand Collateral Mortgage (First Charge) of $14,550,000 registered against 2792 Slough Street, Mississauga, Ontario (owned by 933); Revolving Credit Agreement to Eli with a $4,500,000 credit limit; Credit Card Agreement/Application in the amount of $100,000 (Eli); Assignments of Rents, Accounts Receivable and Insurance Policies; Full Liability Guarantees cross-guaranteeing indebtedness among 645, 933 and Eli, each supported by a GSA; Full Liability Guarantees from individual guarantors Tinu Pakkath Cherian and Shaik E. Rahimuddin; Environmental Agreements and Indemnities; Title Insurance
- secured creditorsnote: Notice of Power of Sale states 'the amount due ... is $210,340.26', though the itemized components listed (principal $750,000 plus interest, fees, penalties and legal costs) sum to a different figure, and a further 'Total: $80,821.85' also appears in the document (likely OCR/transcription inconsistency); reported here as the document's own stated total per reporting rules. Per diem interest of $287.67 also stated. Royal Bank of Canada and Canadian Western Bank were also given notice as parties appearing to have an interest in the mortgaged property, indicating this security ranks behind or alongside their registered interests. Redemption/sale deadline stated as August 8, 2025. · page: 167 · as of: 2025-07-04 · amount: 210340.26 · debtor: 1000160645 Ontario Inc. · creditor: Zaib Investment Inc. · currency: CAD · security: Mortgage registered April 24, 2024 as Instrument Nos. CE1178380 and PR4325250 (Land Titles Division of Essex No. 12) against 2700 Central Ave, Windsor (PIN 01359-0376) and 2792 & 2806 Slough Street, Mississauga (PIN 13273-1195); mortgage rate 14.00% per annum calculated monthly
- secured creditorsnote: Named as a party with an interest in the mortgaged property in the Notice of Power of Sale; no security instrument details or amount stated in the pages reviewed. · page: 167 · debtor: 1000160645 Ontario Inc. · creditor: Royal Bank of Canada · currency: CAD · security: Registered interest in the mortgaged properties (2700 Central Ave, Windsor and 2792 & 2806 Slough Street, Mississauga) - nature and amount not stated