The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by India Asset Growth Fund and Vistra (ITCL) India Limited, acting as Financial Creditors, to initiate the Corporate Insolvency Resolution Process (CIRP) against Vikram Structures Private Limited, the Corporate Debtor. The Corporate Debtor is engaged in real estate development. The Financial Creditor No.1 subscribed to NCDs and disbursed Rs.22,00,00,000/- to the Borrower Company. The Corporate Debtor executed a Deed of Corporate Guarantee in favor of the Financial Creditors, guaranteeing the obligations of the Borrower Company. The Borrower Company defaulted in making payments as per the terms of the Transaction Documents, leading to the invocation of the Corporate
…M/s. India Asset Growth Fund and M/s. Vistra (ITCL) India Limited, acting as Financial Creditors, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Vikram Structures Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 29.04.2008 and is engaged in real estate development. The Financial Creditor No.1 is a trust registered as Category II AIF under SEBI Regulations and invested money into the Corporate Debtor through secured, unlisted, redeemable non-convertible debentures. M/s. VSPL Projects Private Limited (Borrower/Investee Company) issued 2200 senior, secured, redeemable, unlisted non-convertible debentures. The Financial Creditor
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Vikram Structures…
Financial Creditor No.1…
The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by India Asset Growth Fund and Vistra (ITCL) India Limited, acting as Financial Creditors, to initiate the Corporate Insolvency Resolution Process (CIRP) against Vikram Structures Private Limited, the Corporate Debtor. The Corporate Debtor is engaged in real estate development. The Financial Creditor No.1 subscribed to NCDs and disbursed Rs.22,00,00,000/- to the Borrower Company. The Corporate Debtor executed a Deed of Corporate Guarantee in favor of the Financial Creditors, guaranteeing the obligations of the Borrower Company. The Borrower Company defaulted in making payments as per the terms of the Transaction Documents, leading to the invocation of the Corporate
…M/s. India Asset Growth Fund and M/s. Vistra (ITCL) India Limited, acting as Financial Creditors, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Vikram Structures Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 29.04.2008 and is engaged in real estate development. The Financial Creditor No.1 is a trust registered as Category II AIF under SEBI Regulations and invested money into the Corporate Debtor through secured, unlisted, redeemable non-convertible debentures. M/s. VSPL Projects Private Limited (Borrower/Investee Company) issued 2200 senior, secured, redeemable, unlisted non-convertible debentures. The Financial Creditor
…Vikram Structures…
Financial Creditor No.1…