Axis Trustee Services Limited, the Financial Creditor (FC), filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016 (IBC) against Rivaaz Trade Ventures Private Limited, the Corporate Debtor (CD), due to a default in the redemption of debentures.
Axis Trustee Services Limited filed a Section 7 application against Rivaaz Trade Ventures Private Limited for default in payment of Rs.451,66,34,504/-.
The default was related to the redemption of debentures issued by Rivaaz Trade Ventures Private Limited.
Rivaaz Trade Ventures Private Limited issued 4000 rated, unlisted, secured, redeemable non-convertible debentures (NCDs) with a face value of Rs.10,00,000/- each.
The debentures were subscribed by Franklin India Short Term Income Plan and Franklin India Opportunities Fund.
The date of default mentioned in the application is 30.03.2021.
Rivaaz Trade Ventures Private Limited filed IA (IBC) No. 2236/MB/2023 challenging the maintainability of the Section 7 application based on Section 10A of the IBC.
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Rivaaz Trade Ventures Private Limited…
Axis Trustee Services Limited issued a notice…
Axis Trustee Services Limited, the Financial Creditor (FC), filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016 (IBC) against Rivaaz Trade Ventures Private Limited, the Corporate Debtor (CD), due to a default in the redemption of debentures.
Axis Trustee Services Limited filed a Section 7 application against Rivaaz Trade Ventures Private Limited for default in payment of Rs.451,66,34,504/-.
The default was related to the redemption of debentures issued by Rivaaz Trade Ventures Private Limited.
Rivaaz Trade Ventures Private Limited issued 4000 rated, unlisted, secured, redeemable non-convertible debentures (NCDs) with a face value of Rs.10,00,000/- each.
The debentures were subscribed by Franklin India Short Term Income Plan and Franklin India Opportunities Fund.
The date of default mentioned in the application is 30.03.2021.
Rivaaz Trade Ventures Private Limited filed IA (IBC) No. 2236/MB/2023 challenging the maintainability of the Section 7 application based on Section 10A of the IBC.
…Rivaaz Trade Ventures Private Limited…
Axis Trustee Services Limited issued a notice…