Global Creditors Drag Udaan’s parent to bankruptcy court in Singapore after $170-million bond default

Mumbai | Bengaluru: Global creditors of IPO-bound Udaan, including banks and hedge funds, have initiated insolvency proceedings in the Singapore High Court after its offshore holding company Trustroot Internet Pvt Ltd defaulted on $170 million compulsorily convertible notes or bonds due on June 30, according to people aware of the development. The creditors have hired…

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