This comes a month after the company had failed to meet another deadline to pay back a $617 million loan, with creditors having declared the company in default in September following earlier repayment delays.

The creditors had been pushing chief executive officer Robin Raina’s firm to sell off assets.

This is a developing story. Please check for updates.

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Atul Tiwari

Atul Tiwari is a seasoned journalist at Mumbai Times, specializing in city news, culture, and human-interest stories. With a knack for uncovering compelling narratives, Atul brings Mumbai’s vibrant spirit to life through his writing.