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2022 (3) TMI 1498 - HC - SEBIConvening a meeting of seven debenture holders to consider the Resolution Plan approved by the ICA lenders - meeting put to vote such resolution as may be necessary in terms of the Debenture Trust Deed - HELD THAT:- Having considered the submissions, it would be appropriate following the law laid down by this Court in Rajkumar Nagpal [2021 (10) TMI 1311 - BOMBAY HIGH COURT] to grant ad-interim relief in terms of prayer clause (c). Accordingly, Defendant No.2 is directed to call meeting of the seven Debenture Holders under the three Debenture Trust Deeds within two weeks of this order. The calling, conducting and voting at such meetings shall be governed by the terms of the respective Debenture Trust Deeds. At such meetings, the second Defendant will place for consideration and approval of the beneficial owners or debenture holders the settlement offer / compromise / arrangement / Resolution Plan approved by ICA lenders on 19th June, 2021 and put to vote such Resolution Plan. It is made clear if there is any further or later or supplementary trust deed, then the provisions of that supplementary trust deed will also be taken in to account.
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