Vistra ITCL (India) Limited (Financial Creditor) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Rajesh Habitat Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The petition alleged defaults totaling Rs. 41,58,12,718/- as of 31.12.2019, arising from the Corporate Debtor's failure to honor repayment obligations under two Debenture Trust Deeds (DTD-1 dated 09.09.2016 and DTD-2 dated 22.03.2017) for Non-Convertible Debentures (NCDs). The Financial Creditor had previously initiated Commercial Suit No. 180 of 2022 before the Bombay High Court, where Consent Terms were executed. Under these terms, the Corporate Debtor and its guarantors acknowledged liability and agreed to a
…Company Petition C.P. (IB) No.961/MB/2023 was filed on 23.08.2023 under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petition was filed by Vistra ITCL (India) Limited (Financial Creditor) against Rajesh Habitat Private Limited (Corporate Debtor).
The total amount claimed to be in default is Rs.41,58,12,718/- as on 31.12.2019.
The defaults arise from obligations under Debenture Trust Deed dated 09.09.2016 (DTD-1) and Debenture Trust Deed dated 22.03.2017 (DTD-2).
The Corporate Debtor first defaulted in payment of coupon amount under DTD-1 on 31.12.2018.
The Corporate Debtor first defaulted in payment of coupon amount under DTD-2 on 30.09.2018.
The Corporate Debtor is engaged in the business of real estate.
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Shareholders' Resolution passed authorizing…
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Vistra ITCL (India) Limited (Financial Creditor) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Rajesh Habitat Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The petition alleged defaults totaling Rs. 41,58,12,718/- as of 31.12.2019, arising from the Corporate Debtor's failure to honor repayment obligations under two Debenture Trust Deeds (DTD-1 dated 09.09.2016 and DTD-2 dated 22.03.2017) for Non-Convertible Debentures (NCDs). The Financial Creditor had previously initiated Commercial Suit No. 180 of 2022 before the Bombay High Court, where Consent Terms were executed. Under these terms, the Corporate Debtor and its guarantors acknowledged liability and agreed to a
…Company Petition C.P. (IB) No.961/MB/2023 was filed on 23.08.2023 under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petition was filed by Vistra ITCL (India) Limited (Financial Creditor) against Rajesh Habitat Private Limited (Corporate Debtor).
The total amount claimed to be in default is Rs.41,58,12,718/- as on 31.12.2019.
The defaults arise from obligations under Debenture Trust Deed dated 09.09.2016 (DTD-1) and Debenture Trust Deed dated 22.03.2017 (DTD-2).
The Corporate Debtor first defaulted in payment of coupon amount under DTD-1 on 31.12.2018.
The Corporate Debtor first defaulted in payment of coupon amount under DTD-2 on 30.09.2018.
The Corporate Debtor is engaged in the business of real estate.
…Shareholders' Resolution passed authorizing…
Board Resolution passed authorizing the…