Plaintiff has been appointed as
the Debenture Trustee under (i) the Debenture Subscription and Debenture
Trust Deed dated 1st December, 2009 executed by Amazia Developers ... Brainpoint”), the Defendant
and the Plaintiff; and (ii) the Debenture Subscription and Debenture Trust
Deed dated 1st December, 2009 executed by Rubix Trading Private Limited
Schedule B creditors; or alternatively for the execution of
a debenture trust deed 'and the issue of debentures in their
favour if sanction ... groups, the company did not execute
the mortgage or the proposed debenture trust deed in favour
of the Schedule B creditors.
The mills continued
subscribe to the debentures would stand reduced to Rs. 40 lakhs and the company should get the debenture trust deed executed for the amount ... company saying that it was prepared to subscribe to the debentures of the value of Rs. 50 lakhs out of the total amount
securing the issue of debentures, or in any contract with the debenture-holders secured by a trust deed, shall be void ... prescribe the procedure, for securing the issue of debentures, the form of debenture trust deed, the procedure for the debenture-holders to inspect the trust
debentures was, therefore, ₹ 1400 crores, and were issued to the
debenture holders on private placement basis.
Salient Features of the Debenture Trust Deeds ... extended by the Debenture Holders to the
petitioner, by way of subscription to the Debentures, pursuant
to the two Debenture Trust Deeds dated 5th January
mortgage created over the properties in favour of the debenture holders under the Debenture Trust Deed dated 10-2-1947, and that even a floating ... security or charge. Where a series of debentures or debenture stock is secured by a trust deed, then, in addition to specific property
Companies Act, 1956
117A. Debenture trust deed
(1) A trust deed for securing any issue of debentures shall be in such form and shall ... copies of such trust deed on payment of such sum as may be prescribed. (3) If a copy of the trust deed is not made
Sitaram Bhartia is that the debentures were issued without consideration and that the debentures and the debenture trust deed are fictitious and void documents ... question whether the debentures were issued without any consideration and whether the debentures and the debenture trust deed are fictitious documents and were brought into
defendant no.5, the debenture trustee.
The transaction documentation relating to the issuance of the debentures
included two Debenture Trust Deeds dated 6 th October ... Debenture Trustee Agreement
and certain other ancillary documents. The following are the relevant terms
of the two Debenture Trust Deeds :
"1.1 Definitions
In this
Vistra"). Vistra is the
Debenture Trustee for a number of Debenture Holders under different
Debenture Trust Deeds. The Plaintiffs are among the Debenture Holders ... call and conduct
meeting of all the Debenture Holders under all three Debenture Trust
Deeds within 30 days of this order ensuring that the calling
