TMI Blog2020 (2) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... recting the Corporate Debtor to strictly adhere to the terms and conditions as mentioned in the said Joint Settlement Terms dated 27.11.2019 without fail failing which the Petitioner is at liberty to file fresh Company Petition in accordance with law. - C.P. (IB) NO. 246/BB/2019 - - - Dated:- 29-11-2019 - Rajeswara Rao Vittanala, Judicial Member And Ashutosh Chandra, Technical Member Abhishek Bagga for the Petitioner. Abhijit Atur, Ms. Akhila, M.S., and Vikram Prabhakar, MD for the Respondent. ORDER Ashutosh Chandra, C.P. (IB)No. 246/BB/2019 is filed by M/s. India Asset Growth Fund Anr. ('Petitioners/Financial Creditors'), U/s. 7 of the IBC, 2016, R/w Rule 4 of I B (AAA) Rules, 2016, by inter alia se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t (Rs.) Interest Amount (Rs.) 1 Paid as on November 27th 2019 88,00,000 - 2 On or before 30th November 2019 50,00,000 - 3 On or before 31st December 2019 3,62,00,000 30,04,706.85 4 On or before 31st January 2020 5,00,00,000 24,20,547.95 5 On or before 28th February 2020 5,00,00,000 14,57,534.25 6 On or before 24th March 2020 5,00,00,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Debtor to pay the due amount within 15 days from the date of receipt of the Second Notice. In the event the Corporate Debtor fails to pay the amount due in spite of the Second Notice, the present settlement shall stand terminated, the parties shall be relegated to the same position and the whole outstanding amount as per the Debenture Trust Deed dated October 21st 2015 and other Transaction Documents shall become due and payable immediately along with all applicable interests and charges as they were prior to this settlement. (3) The parties agree that in the event the Corporate Debtor fails to make the instalment amount that falls due on 28th February 2020 or on 24th March 2020, the Financial Creditor shall provide 7 days of grace perio ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
