The case involves an application filed under Section 95 of the I&B Code, 2016, read with Rule 7(2) of the I&B (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. IDBI Trusteeship Services Limited, acting as the debenture trustee for ICICI Prudential Real Estate AIF-I, filed the application against Mr. Kashyap K. Mehta, the personal guarantor of Sunshine Housing and Infrastructure Private Limited (SHIPL). SHIPL had received a disbursement of Rs. 40,00,00,000/- from ICICI Prudential Real Estate AIF I by issuing 4,000 unlisted, unrated, secured, redeemable non-convertible debentures pursuant to a Debenture Subscription Agreement dated 06.09.2016. SHIPL was admitted into Corporate
…ICICI Prudential Real Estate AIF I disbursed Rs. 40,00,00,000/- to Sunshine Housing and Infrastructure Private Limited (SHIPL) by subscribing to 4,000 unlisted, unrated, secured, redeemable non-convertible debentures. This was done pursuant to a Debenture Subscription Agreement dated 06.09.2016. The debentures had a face value of Rs. 1,00,000/- each. The debt obligation arose out of a personal guarantee dated 07.09.2016 issued by Mr. Kashyap K. Mehta, the Personal Guarantor, in favor of the Debenture Trustee to secure the debentures issued by SHIPL. The Debenture Trust Deed was dated 26.10.2016. SHIPL was admitted into Corporate Insolvency Resolution Process (CIRP) by an NCLT Mumbai Order dated 08.05.2019. The total amount in default under the Personal Guarantee as on
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Debenture Subscription Agreement between ICICI…
Mr. Kashyap K. Mehta issued a personal…
The case involves an application filed under Section 95 of the I&B Code, 2016, read with Rule 7(2) of the I&B (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. IDBI Trusteeship Services Limited, acting as the debenture trustee for ICICI Prudential Real Estate AIF-I, filed the application against Mr. Kashyap K. Mehta, the personal guarantor of Sunshine Housing and Infrastructure Private Limited (SHIPL). SHIPL had received a disbursement of Rs. 40,00,00,000/- from ICICI Prudential Real Estate AIF I by issuing 4,000 unlisted, unrated, secured, redeemable non-convertible debentures pursuant to a Debenture Subscription Agreement dated 06.09.2016. SHIPL was admitted into Corporate
…ICICI Prudential Real Estate AIF I disbursed Rs. 40,00,00,000/- to Sunshine Housing and Infrastructure Private Limited (SHIPL) by subscribing to 4,000 unlisted, unrated, secured, redeemable non-convertible debentures. This was done pursuant to a Debenture Subscription Agreement dated 06.09.2016. The debentures had a face value of Rs. 1,00,000/- each. The debt obligation arose out of a personal guarantee dated 07.09.2016 issued by Mr. Kashyap K. Mehta, the Personal Guarantor, in favor of the Debenture Trustee to secure the debentures issued by SHIPL. The Debenture Trust Deed was dated 26.10.2016. SHIPL was admitted into Corporate Insolvency Resolution Process (CIRP) by an NCLT Mumbai Order dated 08.05.2019. The total amount in default under the Personal Guarantee as on
…Debenture Subscription Agreement between ICICI…
Mr. Kashyap K. Mehta issued a personal…