https://www.taxtmi.com/caselaws?id=400604 Section 71(10) of the Companies Act, 2013 is discussed as requiring a company that defaults on debenture interest to repay the principal and interest due and redeem the debentures in accordance with their terms. The text notes that the NCLAT criticised an NCLT direction giving time for settlement instead of issuing a specific repayment direction, and states that the tribunal considered itself bound to grant only the relief contemplated by Section 71(10). It further records that the respondent company had admitted default, failed to participate effectively, and did not produce material showing settlement efforts. en-us Mon, 09 Nov 2020 00:00:00 +0530 Sat, 30 Jan 2021 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400604 Section 71(10) of the Companies Act, 2013 is discussed as requiring a company that defaults on debenture interest to repay the principal and interest due and redeem the debentures in accordance with their terms. The text notes that the NCLAT criticised an NCLT direction giving time for settlement instead of issuing a specific repayment direction, and states that the tribunal considered itself bound to grant only the relief contemplated by Section 71(10). It further records that the respondent company had admitted default, failed to participate effectively, and did not produce material showing settlement efforts. Case-Laws Companies Law Mon, 09 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400604