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2018 (5) TMI 2078 - Tri - Companies LawSeeking direction to respondents to redeem the fully paid up secured redeemable non-convertible debenture in favour of applicants/ petitioners - Section 73(4) & Section 71(10) of the Companies Act, 2013 - HELD THAT:- By the perusal of the record, it is undisputed that all the applicants fall within the category of either debenture holder or deposit holder - Section 71(10) and 73(4) of the Companies Act, 2013 deals with the power of this tribunal, when a company fails to redeem the debenture or fails to repay its deposits. In the present application copies of the certificates available to debenture holders are annexed as annexure 2 of the present application, but no copy of surrender is annexed - Further notices by the applicants for non-payment of debenture stating the details of debenture Certificate no, Registered Folio no, numbers of Debentures, Distinctive No(s) of Debentures, Date of Allotment sent to Respondent No.1. Present Applicant 1 to 32 falls into the category of debenture holder. They have complied all the requirement of Form 11 of National Company Law Tribunal Rules, 2016 and annexed all the documents to prove that the R1 company failed to redeem their debenture on the date of maturity/repay the deposit on the date of maturity. Hence, the present petition is allowed regarding its prayer clause and company above named is directed to make repayment of the Deposit above (s)/ Debenture (s) along with interest due thereon by the Terms and Conditions of the Deposit/ Debenture within 15 days from receipt of this order - it is found that maturity date of the Debenture Certificate of the some of the debenture holder is premature. Hence such debenture/ premature certificate are devoid of this order. Application disposed off.
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