The case involves an application filed by Vistra ITCL India Limited, the Debenture Trustee, on behalf of the Debenture Holders, including Nippon Life India Asset Management Limited and Reliance India Realty Opportunities LLP, 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. The application seeks to initiate an Insolvency Resolution Process against Mr. Chandrashekar Hariharan and Mrs. Kanchan Kaur, who are the Personal Guarantors for loan facilities extended to Corporate Debtors: BCIL Red Earth Developers India Private Limited, Biodiversity Conservation India Private
…Vistra ITCL India Limited, acting as Debenture Trustee for Debenture Holders including Nippon Life India Asset Management Limited and Reliance India Realty Opportunities LLP, filed an application to initiate Insolvency Resolution Process against Mr. Chandrashekar Hariharan and Mrs. Kanchan Kaur, the 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 invested in the Corporate Debtor as per the Debenture Subscription Agreement dated 2014-01-17. The Corporate Debtors and Obligors agreed to execute a Debenture Trust Deed with IL&FS Trust Company Limited. The Corporate Debtors defaulted
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The case involves an application filed by Vistra ITCL India Limited, the Debenture Trustee, on behalf of the Debenture Holders, including Nippon Life India Asset Management Limited and Reliance India Realty Opportunities LLP, 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. The application seeks to initiate an Insolvency Resolution Process against Mr. Chandrashekar Hariharan and Mrs. Kanchan Kaur, who are the Personal Guarantors for loan facilities extended to Corporate Debtors: BCIL Red Earth Developers India Private Limited, Biodiversity Conservation India Private
…Vistra ITCL India Limited, acting as Debenture Trustee for Debenture Holders including Nippon Life India Asset Management Limited and Reliance India Realty Opportunities LLP, filed an application to initiate Insolvency Resolution Process against Mr. Chandrashekar Hariharan and Mrs. Kanchan Kaur, the 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 invested in the Corporate Debtor as per the Debenture Subscription Agreement dated 2014-01-17. The Corporate Debtors and Obligors agreed to execute a Debenture Trust Deed with IL&FS Trust Company Limited. The Corporate Debtors defaulted
…Debenture Holders decided to invest in the…
Demand Notice issued to…