Debenture holders file case against real estate firm Peninsula Land

30 Sep 2022 CW Team

Debtors have filed an insolvency petition against Peninsula Land with the National Firm Law Tribunal (NCLT) to rely on corporate guarantees offered by the Ashok Piramal company worth Rs 1.17 billion.

The trustee of the debentures and the collateral documents securing the debt instruments, Vistra ITCL, is acting on behalf of the debenture holders.

To house its real estate projects, Peninsula Land had established nearly two dozen special purpose entities (SPV). To ring-fence their liabilities and prevent the group as a whole from being harmed by the default of one project, developers frequently park projects in such distinct SPVs.

The corporate guarantee was given for the debentures that one of these SPVs issued. The holders of the debentures contend that in July 2021, the SPV missed payments due on the debentures. The NCLT rejected the debenture holders' argument.

Also read:
L&T wins contracts for buildings and factories biz
Maharashtra to focus on e-registration of first-sale properties

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..