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...reliance whose equity shares are quoting high on the stock exchanges. But in law a non - convertible debenture holder like the petitioner is not at all entitled to demand conversion of his "f" series ...from 10th june, 1986, did not envisage the conversion of non - convertible debentures. Lack of such provision for conversion is taken as amounting to prohibition. As the resolution .... The new guidelines issued on 10th june, 1986, made the conversion of non - convertible bonds into convertible bonds almost impossible.
(7) It may be noted that the non - permitt...
...16 July, 2001 IFCI converted the leasing facility granted to the respondent into Non-Convertible Debentures. In the letter dated 17 October, 2001 addressed by the IFCI it was informed that in view of ...is the subject matter of challenge of Appeal No. 109 of 2007. The said order accepts the finding of fact that the agreement with IFCI was converted into Non-Convertible Debentures from Ju...precedent. The finding of fact recorded is that till the date of conversion into Non-Convertible Debentures, no installment was paid towards repayment to IFCI. A letter of IFCI placed on ...
...investments in petrochemicals advising the public about the issue of Rs 593.40 crores of convertible debentures of RPL. It is asserted on behalf of the respondents that the public issue ....16. The various alternative means of issue of security such as equity share and/or convertible cumulative preference shares (CCP) and/or partially convertible debentures and/or...of cumulative preference shares as also the non-convertible portion of the debentures. This would have been necessitated by the sluggishness in the capital market, the market reactions to non...
.... 13,80,93,186 paid on debentures was claimed as revenue expenses which comprised of (i) Interest of Rs. 11,69,13,770 in respect of Part ‘B’ portion of convertible debentures allotted on ...section 36(1)(iii) in respect of its interest liability on Part ‘B’ of the aforesaid convertible debentures till their conversion into equity capital and that similar principle w...the Tribunal in 1996-97 allowed, the deduction in respect of interest liability pertaining to convertible and non-convertible debentures till their conversion. We do not see any good reason to dev...
...by way of prospectus, total aggregating to 805000 debentures. Part A of Rs.200 each of the Partly Convertible Debentures were converted into 5 Equity Shares as per the terms of issue ther...splitting H Bonus shares I Share certificate against duly executed indemnity bond sent to the company Type IV : Non receipt of A. Interest on Debentures B. Redemption amount of debentures C. Debenture...debentures K. Interest on delayed payment of redemption amount of debentures Type V B Non receipt of letter of offer for Rights D Non receipt of Interest on delayed paym...
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...conversion of the said CCDs into 18% NCDs (Non Convertible Debentures) repayable on demand at premium of Rs.9.70 per debenture equivalent to Rs.98.50 Crs. paid to M/s.CAC Spark by M/s.I Labs. Subs...raised an amount of Rs.49,99,99,900/-, by way of issue of 4,99,99,990 Compulsory Convertible Debentures (CCD) of Rs.10/- each, from a non- resident investor, M/s. CAC Spark Holdings Limit...Appellant to change the character of the debentures from compulsory convertible debentures to 18% Non-convertible debentures re-payable on demand at a premium of Rs.9.70 per debe...
...Labs, the new owner of the CCDs insisted on conversion of the said CCDs into 18% NCDs (Non Convertible Debentures) repayable on demand at premium of Rs.9.70 per debenture equivalent to Rs...raised an amount of Rs.49,99,99,900/-, by way of issue of 4,99,99,990 Compulsory Convertible Debentures (CCD) of Rs.10/- each, from a non- resident investor, M/s. CAC Spark Holdings Limit...Appellant to change the character of the debentures from compulsory convertible debentures to 18% Non-convertible debentures re-payable on demand at a premium of Rs.9.70 per debe...
...of the Transferor companies and the price of the shares will be determined at the time of conversion of the Optionally Convertible Non-Cumulative Preference shares. ROC, Chennai has furth...price of the shares to be issued on conversion of the Optionally Convertible Non-cumulative Preference Shares i.e., resultant shares shall be determined before hand on the basis of a valuation rep...of a Registered valuer. To this requirement the company has given a letter undertaking that it will include into the final terms of issue of Optionally Convertible Non-Cumulative Preference Shares...
...SEFL with conversion of consolidated debt into non-convertible
debentures. This Tribunal, vide order dated 21 Oct 2020, directed SIFL and...(IB) No.1100/KB/2021 in
CP (IB) No.295/KB/2021
In the matter of An application under section 60(5) of the...Insolvency and Bankruptcy Code, 2016.
And In the matter of Reserve Bank of India … Appropriate Regulator Versus
Srei...
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...employees amounting to Rs. 1.53 crores.Each PCD of Rs. 100/- will result in one equity share of Rs. 10/- at a premium of Rs. 40/-, the balance Rs. 50/- will be non-convertible secured ...of Section 43(5) of the Income Tax Act. The learned counsel contended that The Tribunal ought to have appreciated that the non-convertible secured debentures were transferred...Debentures (PCD in short) for its existing shareholders. The said PCD consisted of equity shares and non convertible security debenture. The face value of each, particularly, PCD was Rs. 100/-. When the...
...56(2)(viib) received in respect of shares issued to a venture capital fund and those issued to non- residents of Rs. 0.6 crores on conversion of compulsory convertible debentures (CCDs) w.... Applicability of section 56(2)(viib) of the Act on the transaction of conversion of Compulsorily Convertible Debentures (CCDs) into Equity Shares of the assessee. b. Applicabil...section 56(2)(viib) of the Act on the transaction of conversion of Compulsorily Convertible Debentures (CCDs) into Equity Shares of the assessee which is essentially covered in ground no....
...against its Investment Amount in the Company pursuant to the Investment Agreement as per the following payment schedule:
i. On conversion of CCDs into NCDs on signing of this S...Appellant further submitted that as per clause 2 of this settlement agreement, the CCDs stood converted into Non-Convertible Debentures (NCDs) which are essentially long term debt instruments, that as per...
"Conversion of Debentures The Debentures shall be Optionally Convertible into Class B Equity Shares at face...
...the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 prescribe prior approval of the stock exchanges where the non-convertible debentures are listed for any material modification in the stru.... 113 & 114 of 2019 of non-convertible debentures in terms of coupon, conversion, redemption, or otherwise pursuant to the Composite Scheme of Arrangement, no prior approval is n...making certain observations. (i) The first observation relates to non-convertible debentures of the Applicant Company No.1. (ii) The second observation...
...Corporate Debtor towards part redemption of optionally/non-convertible debentures Within 90 days of the Approval Date 10. Conversion of Admitted Financial...Debtor to the Expressway SPV. Issuance of optionally/non-convertible Debentures by Expressway SPV to the Corporate Debtor amounting to INR 2,200 Cr Issuance of equity shares by Expressway SPV to the...SPV, Land Bank SPV, conversion of Admitted Financial Debt due to the Institutional Financial Creditors to equity, subscription of debentures by the Corporate Debtor or transfer of shares of the La...
..., reduction in interest rate and conversion of existing Funded Interest Term Loan, deferred interest, and Non-Convertible Debentures into Cumulative Redeemable Preference Shares. The Corporate Debtor.... Corporate Debtor under the Loan Agreement.
3.1 Later, the Corporate Debtor approached the Applicant for conversion of its Foreign Currency Loan into Single Currency Pool...
IN THE MATTER OF:
IDBI Bank Ltd.
Through its Deputy General Manager Mr. Atul Deep Gupta,
SCO 72-73, Sector 17-B...
...Plan contemplates is (a) conversion of debt to equity for all permissible classes of creditors; (b) issuance of secured, listed and unsecured, unlisted non-convertible debentures to all c...defendant no. 1.5. According to the plaintiff, between the years 2016 and 2018, the plaintiff subscribed to Non-Convertible Debentures (NCDs) of defendant no. 1, aggregating to Rs...Private Placement Non-Convertible Debentures subscribed by the plaintiff. As far as the plaintiff is concerned, there are four groups of NCDs, as under:—Debentures Groups
Date ...
...per debenture. The debenture holders had an equity option or the option of converting them into non- convertible debentures carrying 19 per cent interest thereon. Under the equity option, the debenture holder could...date of allotment. The other option with the debenture holders was to convert them into non-convertible debentures of Rs.200 carrying interest at the rate of 19 per cent and these could be redeeme...remaining large majority opted for getting them converted into non-convertible debentures with 19 per cent interest. It is alleged that with a view to enable large number of debenture holders to convert their ...