Beacon Trusteeship Limited (Financial Creditor) filed a Section 7 IBC petition against Vatika IT Parks Private Limited (Corporate Debtor) for a default of Rs. 233,75,19,372 on Optionally Convertible Debentures (OCDs). The Corporate Debtor filed an application under Section 8 of the Arbitration and Conciliation Act, 1996, seeking to refer the matter to arbitration, arguing that the dispute was covered by a Settlement Agreement containing an arbitration clause.
Beacon Trusteeship Limited (Financial Creditor) filed a Section 7 IBC petition against Vatika IT Parks Private Limited (Corporate Debtor) for a default of Rs. 233,75,19,372.
The Financial Creditor acts as a debenture trustee for Asset Reconstruction Company (India) Ltd., the Debenture Holder (formerly Sammaan Capital Limited).
The Corporate Debtor issued 12,50,000 Optionally Convertible Debentures (OCDs) of Rs. 1,000 each, totaling Rs. 125,00,00,000.
A Debenture Trusteeship Agreement was executed on 01.07.2019, and a Debenture Trust Deed (DTD) was executed on 29.07.2019 between the Corporate Debtor, Applicant, Mr. Anil Bhalla, Mr. Gautam Bhalla (Promoters), and Vatika Ltd.
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The Corporate Debtor appointed Beacon…
A DTD was executed between the Corporate…
Beacon Trusteeship Limited (Financial Creditor) filed a Section 7 IBC petition against Vatika IT Parks Private Limited (Corporate Debtor) for a default of Rs. 233,75,19,372 on Optionally Convertible Debentures (OCDs). The Corporate Debtor filed an application under Section 8 of the Arbitration and Conciliation Act, 1996, seeking to refer the matter to arbitration, arguing that the dispute was covered by a Settlement Agreement containing an arbitration clause.
Beacon Trusteeship Limited (Financial Creditor) filed a Section 7 IBC petition against Vatika IT Parks Private Limited (Corporate Debtor) for a default of Rs. 233,75,19,372.
The Financial Creditor acts as a debenture trustee for Asset Reconstruction Company (India) Ltd., the Debenture Holder (formerly Sammaan Capital Limited).
The Corporate Debtor issued 12,50,000 Optionally Convertible Debentures (OCDs) of Rs. 1,000 each, totaling Rs. 125,00,00,000.
A Debenture Trusteeship Agreement was executed on 01.07.2019, and a Debenture Trust Deed (DTD) was executed on 29.07.2019 between the Corporate Debtor, Applicant, Mr. Anil Bhalla, Mr. Gautam Bhalla (Promoters), and Vatika Ltd.
…The Corporate Debtor appointed Beacon…
A DTD was executed between the Corporate…