Tikona Infinet resolves dispute regarding debt payments with L&T Finance

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Tikona Infinet resolves dispute regarding debt payments with L&T Finance - Business Standard

Quick Summary:

Tikona Infinet said the pact was signed on May 10, bringing closure to a previously reported shareholder matter related to Series 'E' Compulsorily Convertible Debentures (CCDs), following which L&T Finance has started the process to withdraw its application.

The announcement came after the National Company Law Tribunal (NCLT), Mumbai Bench, earlier admitted an application filed by L&T Finance against Tikona Infinet, citing default on coupon payments for CCDs.

Internet service provider Tikona Infinet on Monday announced that they have entered into a definitive settlement agreement with L&T Finance Limited to resolve the dispute on debt bonds.