Invesco Asset Management (India) Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking reliefs under Section 7(5)(a) and Section 13(1)(a)(b)(c) of the Code. The applicant/financial creditor is an investment manager, incorporated on 20.05.2005. They granted Rs. 15,00,00,000/- to the respondent/corporate debtor - M/s. Sintex Industries Limited, being 150 secured non-convertible debentures of face value of Rs. 10,00,000/- each bearing ISIN INE429C07507 and bearing coupon of 10.70% p.a. The corporate debtor defaulted on the due date mentioned in the total principal amount of Rs. 15,00,00,000/- along with interest @ 10.70% p.a. amounting to Rs. 15,40,01,506.85 as on 30th September, 2019 along with 2% p.a. default interest till
…Invesco Asset Management (India) Private Limited, acting as the Investment Manager for Invesco India Credit Risk Fund, granted Rs. 15,00,00,000/- to Sintex Industries Limited through 150 secured non-convertible debentures. The debentures had a face value of Rs. 10,00,000/- each, bearing ISIN INE429C07507 and a coupon rate of 10.70% p.a. The date of allotment under the Information Memorandum and DTD was 30th September, 2014, but the financial creditor invested in the debentures from the secondary market on 04th December, 2014. Sintex Industries Limited defaulted on the principal amount and interest, with the total outstanding amounting to Rs. 15,40,01,506.85 as of 30th September, 2019, along with a 2% p.a. default interest. The corporate debtor made partial payments of
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Invesco Asset Management (India) Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking reliefs under Section 7(5)(a) and Section 13(1)(a)(b)(c) of the Code. The applicant/financial creditor is an investment manager, incorporated on 20.05.2005. They granted Rs. 15,00,00,000/- to the respondent/corporate debtor - M/s. Sintex Industries Limited, being 150 secured non-convertible debentures of face value of Rs. 10,00,000/- each bearing ISIN INE429C07507 and bearing coupon of 10.70% p.a. The corporate debtor defaulted on the due date mentioned in the total principal amount of Rs. 15,00,00,000/- along with interest @ 10.70% p.a. amounting to Rs. 15,40,01,506.85 as on 30th September, 2019 along with 2% p.a. default interest till
…Invesco Asset Management (India) Private Limited, acting as the Investment Manager for Invesco India Credit Risk Fund, granted Rs. 15,00,00,000/- to Sintex Industries Limited through 150 secured non-convertible debentures. The debentures had a face value of Rs. 10,00,000/- each, bearing ISIN INE429C07507 and a coupon rate of 10.70% p.a. The date of allotment under the Information Memorandum and DTD was 30th September, 2014, but the financial creditor invested in the debentures from the secondary market on 04th December, 2014. Sintex Industries Limited defaulted on the principal amount and interest, with the total outstanding amounting to Rs. 15,40,01,506.85 as of 30th September, 2019, along with a 2% p.a. default interest. The corporate debtor made partial payments of
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