The case involves an application filed by Vistra ITCL India Limited, the Debenture Trustee, on behalf of Debenture Holders including Nippon Life India Asset Management Limited and Reliance India Realty Opportunities LLP, seeking to initiate Insolvency Resolution Process against Mr. Chandrashekar Hariharan and Mrs. Kanchan Kaur, who are Personal Guarantors for loan facilities extended to Corporate Debtors: BCIL Red Earth Developers India Private Limited, Biodiversity Conservation India Private Limited, and BCIL Zed Ria Properties Private Limited. The Financial Creditors claim that the Corporate Debtors failed to pay outstanding amounts, leading to Demand Notices issued to the Personal Guarantors. Prior to this application, the Financial Creditors had initiated CIRP
…Vistra ITCL India Limited, acting as Debenture Trustee on behalf of Debenture Holders, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, to initiate Insolvency Resolution Process against Mr. Chandrashekar Hariharan and Mrs. Kanchan Kaur, who are Personal Guarantors for loan facilities extended to BCIL Red Earth Developers India Private Limited, Biodiversity Conservation India Private Limited, and BCIL Zed Ria Properties Private Limited (Corporate Debtors). The Debenture Holders had invested in the Corporate Debtor as per the Debenture Subscription
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The case involves an application filed by Vistra ITCL India Limited, the Debenture Trustee, on behalf of Debenture Holders including Nippon Life India Asset Management Limited and Reliance India Realty Opportunities LLP, seeking to initiate Insolvency Resolution Process against Mr. Chandrashekar Hariharan and Mrs. Kanchan Kaur, who are Personal Guarantors for loan facilities extended to Corporate Debtors: BCIL Red Earth Developers India Private Limited, Biodiversity Conservation India Private Limited, and BCIL Zed Ria Properties Private Limited. The Financial Creditors claim that the Corporate Debtors failed to pay outstanding amounts, leading to Demand Notices issued to the Personal Guarantors. Prior to this application, the Financial Creditors had initiated CIRP
…Vistra ITCL India Limited, acting as Debenture Trustee on behalf of Debenture Holders, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, to initiate Insolvency Resolution Process against Mr. Chandrashekar Hariharan and Mrs. Kanchan Kaur, who are Personal Guarantors for loan facilities extended to BCIL Red Earth Developers India Private Limited, Biodiversity Conservation India Private Limited, and BCIL Zed Ria Properties Private Limited (Corporate Debtors). The Debenture Holders had invested in the Corporate Debtor as per the Debenture Subscription
…Debenture Holders decided to invest in the…
Demand Notice issued to…