This case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Ask Property Investment Advisors Private Limited ("the Financial Creditor") against Tridhaatu Asset Holdings Llp ("the Corporate Debtor"), seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition claims a default of Rs. 7,33,40,000 as of November 3, 2022, with the date of default specified as October 24, 2022. The Financial Creditor, acting as an investment manager for ASK Real Estate Special Situations Fund-I, had subscribed to secured, rated, listed, cumulative, redeemable, non-convertible debentures issued by the Principal Debtor under a Debenture Trust Deed (DTD) dated February 4, 2019. An Exit Agreement dated
…Ask Property Investment Advisors Private Limited, acting as the Financial Creditor, filed a petition under Section 7 of the IBC against Tridhaatu Asset Holdings Llp, the Corporate Debtor, seeking initiation of CIRP due to a default of Rs. 7,33,40,000 as of November 3, 2022. The default stemmed from the Principal Debtor's failure to redeem non-convertible debentures (NCDs) as per the Debenture Trust Deed (DTD) dated February 4, 2019, and an Exit Agreement dated September 27, 2021. The Financial Creditor, acting as an investment manager for ASK Real Estate Special Situations Fund-I, had subscribed to these NCDs. The Exit Agreement stipulated that the NCDs would be redeemed by December 30, 2021, but the Principal Debtor failed to do so. Consequently, a Default Notice was
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Debenture Trust Deed executed amongst the…
Exit Agreement executed modifying the terms of…
This case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Ask Property Investment Advisors Private Limited ("the Financial Creditor") against Tridhaatu Asset Holdings Llp ("the Corporate Debtor"), seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition claims a default of Rs. 7,33,40,000 as of November 3, 2022, with the date of default specified as October 24, 2022. The Financial Creditor, acting as an investment manager for ASK Real Estate Special Situations Fund-I, had subscribed to secured, rated, listed, cumulative, redeemable, non-convertible debentures issued by the Principal Debtor under a Debenture Trust Deed (DTD) dated February 4, 2019. An Exit Agreement dated
…Ask Property Investment Advisors Private Limited, acting as the Financial Creditor, filed a petition under Section 7 of the IBC against Tridhaatu Asset Holdings Llp, the Corporate Debtor, seeking initiation of CIRP due to a default of Rs. 7,33,40,000 as of November 3, 2022. The default stemmed from the Principal Debtor's failure to redeem non-convertible debentures (NCDs) as per the Debenture Trust Deed (DTD) dated February 4, 2019, and an Exit Agreement dated September 27, 2021. The Financial Creditor, acting as an investment manager for ASK Real Estate Special Situations Fund-I, had subscribed to these NCDs. The Exit Agreement stipulated that the NCDs would be redeemed by December 30, 2021, but the Principal Debtor failed to do so. Consequently, a Default Notice was
…Debenture Trust Deed executed amongst the…
Exit Agreement executed modifying the terms of…