https://www.taxtmi.com/caselaws?id=408894 The Tribunal held that Respondent No. 1 (R1) was liable to redeem the Secured Non-Convertible Debentures (NCDs) and pay the principal and interest as per the Debenture Trust Deed. The Tribunal found R1 had defaulted on payments, constituting an 'event of default' under the DTD. The Tribunal clarified that its power under Section 71(10) of the Companies Act, 2013 was mandatory once conditions were met. Despite arguments regarding financial considerations and public interest, the Tribunal ruled in favor of the Petitioner, directing R1 to pay interest within two months and redeem the debentures within three months. en-us Mon, 21 Jun 2021 00:00:00 +0530 Thu, 24 Jun 2021 08:25:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408894 The Tribunal held that Respondent No. 1 (R1) was liable to redeem the Secured Non-Convertible Debentures (NCDs) and pay the principal and interest as per the Debenture Trust Deed. The Tribunal found R1 had defaulted on payments, constituting an 'event of default' under the DTD. The Tribunal clarified that its power under Section 71(10) of the Companies Act, 2013 was mandatory once conditions were met. Despite arguments regarding financial considerations and public interest, the Tribunal ruled in favor of the Petitioner, directing R1 to pay interest within two months and redeem the debentures within three months. Case-Laws Companies Law Mon, 21 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408894