Mumbai-based Tikona Infinet Pvt Ltd moves to settle its dues related to Series ‘E’ Compulsorily Convertible Debentures (CCDs) with L&T Finance Ltd, bringing closure to the insolvency resolution process against the broadband services provider.The process for formal withdrawal of the insolvency petition from the NCLT is currently underway, said the company in its release.
“It was a dispute amongst the shareholders about Coupon Rights,” said Prakash Bajpai, founder and chief executive of Tikona Infinet, in a statement. “I am glad to inform that a settlement agreement has been executed already, which will settle all disputes amicably between LTF Limited and the other majority shareholders. A withdrawal application to NCLT is under…
