Beacon Trusteeship Limited, acting as a debenture trustee, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Transcon Buildcon Private Limited, the Corporate Debtor, due to a default in repayment of debentures.
Beacon Trusteeship Limited filed an application under Section 7 of the IBC as a Financial Creditor.
The Corporate Debtor, Transcon Buildcon Private Limited, acted as a corporate guarantor for non-convertible debentures issued by Transcon Skycity Private Limited.
The total amount claimed to be in default by the Applicant is Rs. 99,32,16,163 as on 28.05.2025.
The debt arose from 6239 secured, unrated, unlisted, redeemable, non-convertible debentures issued by Transcon Skycity Private Limited.
The Corporate Debtor executed a Deed of Corporate Guarantee dated 12.05.2022 in favor of the Applicant.
The date of default is mentioned as 31.01.2025.
The Applicant proposed Mr. Amit Vijay Karia as the Interim Resolution Professional (IRP).
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Beacon Trusteeship…
The date of default is mentioned as 31.01.2025…
Beacon Trusteeship Limited, acting as a debenture trustee, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Transcon Buildcon Private Limited, the Corporate Debtor, due to a default in repayment of debentures.
Beacon Trusteeship Limited filed an application under Section 7 of the IBC as a Financial Creditor.
The Corporate Debtor, Transcon Buildcon Private Limited, acted as a corporate guarantor for non-convertible debentures issued by Transcon Skycity Private Limited.
The total amount claimed to be in default by the Applicant is Rs. 99,32,16,163 as on 28.05.2025.
The debt arose from 6239 secured, unrated, unlisted, redeemable, non-convertible debentures issued by Transcon Skycity Private Limited.
The Corporate Debtor executed a Deed of Corporate Guarantee dated 12.05.2022 in favor of the Applicant.
The date of default is mentioned as 31.01.2025.
The Applicant proposed Mr. Amit Vijay Karia as the Interim Resolution Professional (IRP).
Beacon Trusteeship…
The date of default is mentioned as 31.01.2025…