Asset Care and Reconstruction Enterprise Limited (ACRE) filed applications IA/3786/2024 and IA/3787/2024 against the Resolution Professional (RP) of Rajesh Estates and Nirman Private Limited, seeking a direction to classify ACRE's claims as a secured financial creditor.
Altico Capital (India) Limited extended financial assistance to five entities forming part of the Rajesh Lifespaces Group, including Rajesh Estates and Nirman Private Limited.
Five separate Debenture Trust Deeds (DTDs) were executed between Vistra ITCL (India) Limited and each of the Borrowers.
The Borrowers agreed to issue unrated, unlisted, secured, redeemable and non-convertible debentures to Altico.
A Deed of Assignment was entered into between Altico and ACRE, assigning all the debentures of the Borrower companies to ACRE.
The Corporate Debtor was admitted to Corporate Insolvency Resolution Process (CIRP) vide order dated 24.03.2023.
ACRE submitted claims as a financial creditor of the Corporate Debtor.
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The Corporate Debtor was admitted to Corporate…
Order pronoun…
Asset Care and Reconstruction Enterprise Limited (ACRE) filed applications IA/3786/2024 and IA/3787/2024 against the Resolution Professional (RP) of Rajesh Estates and Nirman Private Limited, seeking a direction to classify ACRE's claims as a secured financial creditor.
Altico Capital (India) Limited extended financial assistance to five entities forming part of the Rajesh Lifespaces Group, including Rajesh Estates and Nirman Private Limited.
Five separate Debenture Trust Deeds (DTDs) were executed between Vistra ITCL (India) Limited and each of the Borrowers.
The Borrowers agreed to issue unrated, unlisted, secured, redeemable and non-convertible debentures to Altico.
A Deed of Assignment was entered into between Altico and ACRE, assigning all the debentures of the Borrower companies to ACRE.
The Corporate Debtor was admitted to Corporate Insolvency Resolution Process (CIRP) vide order dated 24.03.2023.
ACRE submitted claims as a financial creditor of the Corporate Debtor.
…The Corporate Debtor was admitted to Corporate…
Order pronoun…