By Express News ServiceNEW DELHI: US-based Ebix Inc and some other US subsidiaries of the company have filed for protection under Chapter 11 in the US court. “All worldwide operations of the company will continue to operate in the ordinary course and without any interruption,” said the company in a media statement. The company promoted by Robin Raina had over $600 million in debt and recently defaulted on repayment of a part of the loan. In the statement, the company said it has secured the debtor-in-possession financing from its existing lenders to consummate these proceedings and continue business in the ordinary course. Follow The New Indian Express channel on WhatsAppNEW DELHI: US-based Ebix Inc and some other US subsidiaries of the company have filed for protection under Chapter 11 in the US court.

Source: Indian Express December 19, 2023 17:47 UTC