TO: ALL STAKEHOLDERS
CORPORATE INSOLVENCY RESOLUTION PROCESS (‘CIRP’) OF TRIMAX IT INFRASTRUCTURE & SERVICES LIMITED (‘TRIMAX’ or ‘Company’)
As you may be aware, the Hon’ble National Company Law Tribunal (‘NCLT’) Mumbai Bench vide its Order dated 21st February 2019 (‘Insolvency Commencement Date’) had initiated the Corporate Insolvency Resolution Process (‘CIRP’) of Trimax IT Infrastructure & Services Limited (‘Company’ / ‘Trimax’ / ‘Corporate Debtor’) under the Insolvency and Bankruptcy Code, 2016 (‘IBC’).

With effect from 21st February 2019, the powers of the Board of Directors of the Company stood suspended and such powers along with the management of the Company were vesting with Mr. Krishna Chamadia (IP Registration no. IBBI/IPA-001/IP-P00694/2017-18/11220), who was appointed as the Interim Resolution Professional (‘IRP’) with respect to the Company.

Subsequently, in accordance with NCLT order dated 22nd April 2019, such powers and the management of the Company vested with Mr. Avil Menezes (IP Registration no. IBBI/IPA-001/IP-P00017/2016-17/10041), appointed as the Resolution Professional (‘RP’) with respect to the Company.

We are pleased to inform you that a Resolution Plan submitted by Ebix Software India Pvt Ltd (now known as Ebixcash Pvt Ltd.) (‘Ebix’ / ‘Resolution Applicant’ / ‘RA’),which wasfiled with the NCLT on 18th November 2019, after receiving the requisite voting majority by the Committee of Creditors, has now successfully been approved by the NCLT vide order dated 4th May 2020.

As per Section 31 (1) of IBC, the resolution plan, as approved by the NCLT, is binding on the Company and its employees, members, creditors, including the Central Government, any State Government or any local authority to whom a debt in respect of the payment of dues arising under any law for the time being in force, such as authorities to whom statutory dues are owed, guarantors and other stakeholders involved in the resolution plan.

Until the handover to Ebix is complete in accordance with the approved Resolution Plan, the powers of the Board of Directors shall continue to be suspended and exercised by the erstwhile RP (i.e. Mr. Avil Menezes), who shall act as the Monitoring Agent till takeover of the Company by Ebix. A new Board shall be formed by Ebix as per the terms of the resolution plan, and all powers, roles and responsibilities shall then vest with the new board appointed by Ebix.

We shall keep you posted in case of any further developments in this regard.

We would also like to take this opportunity to thank you for your continued support and co-operation during the CIRP of Trimax and your contribution towards achieving a meaningful resolution for the Company.

In case you need any more information, please contact us at ip.trimax@in.ey.com

Thanking you

Yours Faithfully,
For and on behalf of Trimax IT Infrastructure & Services Limited

Avil Menezes
IP Registration no. IBBI/IPA-001/IP-P00017/2016-17/10041
Monitoring Agent (as per the Resolution Plan for the Company approved by NCLT vide order dated 4th May 2020)
Trimax IT Infrastructure & Services Limited
Unit 101, First Floor, LD Building, Mehra Estate,
L.B.S. Road, Vikhroli (W), Mumbai 400 079
Email ID – ip.trimax@in.ey.com

Avil Menezes has been granted a certificate of registration to act as a Resolution Professional by the Insolvency and Bankruptcy Board of India, his Registration No. is IBBI/IPA-001/IP-P00017/2016-17/10041. The affairs, business and property of Trimax IT Infrastructure & Services Limited are being managed by the Resolution Professional, Avil Menezes, who acts as agent of Trimax only and without personal liability.

IP Registration no. IBBI/IPA-001/IP-P00017/2016-17/10041
416, Crystal Paradise Co-op Soc. Ltd., Dattaji Salvi Marg, Above Pizza Express, Off Veera Desai Road, Andheri West, Mumbai – 400053
avil@caavil.com