Ontario · Receivership (court-appointed)
Application Record of the Applicant returnable August 19, 2025.pdf
Application / notice of application · 6 August 2025
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
- applicantROYAL BANK OF CANADA
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-25-00004276-0000
- commencement date6 August 2025
- secured creditorsnote: Revolving Demand Facility limit $250,000.00 (balance $252,639.92); Lease Facility (non-revolving) limit $100,000.00 (balance $0.00); Credit Card Facility limit $30,000.00 (balance $30,840.38) as at July 23, 2025 · page: 12 · as of: 2025-07-23 · amount: 283480.3 · debtor: Planet Financial Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement dated Oct 19, 2021 (Planet GSA); Guarantees from Gaurav, Nidhi, 286 and 100 each limited to $380,000.00
- secured creditorsnote: Confirmed by demand letter dated July 24, 2025 breaking down: Overdraft $698.18 + Fixed Rate Demand Loan $1,766,081.23 = $1,766,779.41 · page: 14 · as of: 2025-07-23 · amount: 1766779.41 · debtor: 1000210687 Ontario Inc. (100) · creditor: Royal Bank of Canada · currency: CAD · security: Fixed Rate Term Loan (non-revolving), facility limit $1,800,000.00; General Security Agreement dated Aug 22, 2022 (100 GSA); Torbram Mortgage - Charge/Mortgage of Land, principal sum $1,800,000.00, instrument PR4108928 registered Aug 31, 2022, first charge on Torbram Property, governed by SCT 20015; Guarantees from Gaurav and Nidhi, Planet, and 286 each limited to $1,800,000.00
- secured creditorsnote: Notice of application (para 12) states 286 was indebted 'as of July 24, 2025' in this amount, though facility table in same paragraph uses July 23, 2025 · page: 15 · as of: 2025-07-23 · amount: 455013.56 · debtor: 2867257 Ontario Inc. (286) · creditor: Royal Bank of Canada · currency: CAD · security: Fixed Rate Term Loan (non-revolving), facility limit $925,839.44; General Security Agreement dated Oct 19, 2021 (286 GSA); Derry Mortgage - Charge/Mortgage of Land, principal sum $960,000.00, instrument PR3934822 registered Oct 28, 2021, first charge on Derry Property, governed by SCT 20015; Assignment of Rents instrument WR1591114 registered Oct 28, 2021; Guarantees from Gaurav and Nidhi ($320,000.00 limit), Planet ($960,000.00 limit), and 100 ($928,000.00 limit)