Rajesh landmark projects goes into insolvency The dues include secured and redeemable non-convertible debentures worth Rs 18 crore issued by the developer, redemption premium, interest, and penal interest
The bankruptcy court has admitted an insolvency plea against real estate developer Rajesh Landmark Projects, a subsidiary of Mumbai-based realtor Rajesh Lifespace, filed by Mumbai-based NBFC IREP Credit Capital.The Mumbai bench of NCLT has appointed Bhrugesh Amin as the insolvency professional.
IREP Credit Capital has sought to invoke the provisions of IBC for a resolution of an unresolved financial debt of nearly Rs 27 crore. The dues include secured and redeemable non-convertible debentures worth Rs 18 crore issued by the developer, redemption premium, interest, and penal interest.
( Originally published on Oct 12, 2022 )
This story originally appeared on: India Times - Author:Tax Cognition
