IDBI Trusteeship Services Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against Radius & Deserve Land Developers Private Limited, the Corporate Debtor. The Financial Creditor claimed a total default of Rs. 55,00,00,000 along with default interest at 18% per annum as of May 19, 2022. The default arose from the Corporate Debtor's failure to comply with payment obligations under various Debenture Trust Deeds (DTDs) and subsequent Consent Terms.
…IDBI Trusteeship Services Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Radius & Deserve Land Developers Private Limited, the Corporate Debtor. The application was filed by Ms. Jinal Shah, Assistant Manager of the Financial Creditor, who was duly authorized by a Board Resolution dated November 20, 2018. The Financial Creditor claimed a total default of Rs. 55,00,00,000, along with default interest at 18% per annum, as of May 19, 2022.
…Ms. Jinal Shah, Assistant Manager of the…
Debenture Trust Deed 1 (DTD 1) was amended,…
IDBI Trusteeship Services Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against Radius & Deserve Land Developers Private Limited, the Corporate Debtor. The Financial Creditor claimed a total default of Rs. 55,00,00,000 along with default interest at 18% per annum as of May 19, 2022. The default arose from the Corporate Debtor's failure to comply with payment obligations under various Debenture Trust Deeds (DTDs) and subsequent Consent Terms.
…IDBI Trusteeship Services Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Radius & Deserve Land Developers Private Limited, the Corporate Debtor. The application was filed by Ms. Jinal Shah, Assistant Manager of the Financial Creditor, who was duly authorized by a Board Resolution dated November 20, 2018. The Financial Creditor claimed a total default of Rs. 55,00,00,000, along with default interest at 18% per annum, as of May 19, 2022.
…Ms. Jinal Shah, Assistant Manager of the…
Debenture Trust Deed 1 (DTD 1) was amended,…