The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 4 of the I&B (Application to Adjudicating Authority) Rules, 2016, by Mr. Mayank Harshad Talati & Anr. (Financial Creditors) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Greens Farm Tech Private Limited (Corporate Debtor). The Financial Creditors are debenture holders who invested in Non-Convertible Debentures (NCDs) issued by the Corporate Debtor. The Corporate Debtor defaulted on payments of interest and principal amount to the debenture holders.
Mr. Mayank Harshad Talati & Anr. are debenture holders (Financial Creditors) of M/s. Greens Farm Tech Private Limited (Corporate Debtor). The Corporate Debtor is a private limited company incorporated on 02.02.2009, engaged in the business of growing and selling agricultural produce. In June 2014, the Corporate Debtor issued Non-Convertible Debentures (NCDs) to fund the acquisition and development of coffee estates and land parcels. The total size of the NCD issue was Rs. 17 Crores, with each NCD worth Rs. 10,000. Each debenture holder was entitled to interest at 20.5% per annum, paid quarterly, with a term of 48 months and principal repayment in 11 quarterly installments from the 18th month. Karvy Capital Ltd. was the Debenture Holder's Representative and
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The Corporate Debtor issued Non-Convertible…
Petitioner No.1…
The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 4 of the I&B (Application to Adjudicating Authority) Rules, 2016, by Mr. Mayank Harshad Talati & Anr. (Financial Creditors) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Greens Farm Tech Private Limited (Corporate Debtor). The Financial Creditors are debenture holders who invested in Non-Convertible Debentures (NCDs) issued by the Corporate Debtor. The Corporate Debtor defaulted on payments of interest and principal amount to the debenture holders.
Mr. Mayank Harshad Talati & Anr. are debenture holders (Financial Creditors) of M/s. Greens Farm Tech Private Limited (Corporate Debtor). The Corporate Debtor is a private limited company incorporated on 02.02.2009, engaged in the business of growing and selling agricultural produce. In June 2014, the Corporate Debtor issued Non-Convertible Debentures (NCDs) to fund the acquisition and development of coffee estates and land parcels. The total size of the NCD issue was Rs. 17 Crores, with each NCD worth Rs. 10,000. Each debenture holder was entitled to interest at 20.5% per annum, paid quarterly, with a term of 48 months and principal repayment in 11 quarterly installments from the 18th month. Karvy Capital Ltd. was the Debenture Holder's Representative and
…The Corporate Debtor issued Non-Convertible…
Petitioner No.1…