Robert Seiden Was Appointed Receiver Over The Shares Rolta India Ltd. Owns In Its Parent Company, Rolta International, Inc.
Pala Assets Holdings Ltd., et al. v. Rolta, LLC, et al.
The Supreme Court of the State of New York
Index No. 652798/2018
Seiden Law‘s Managing Partner, Robert Seiden, was appointed as Receiver over all shares that Rolta India Limited (“Rolta India”) owns in Rolta International, Inc. (“Rolta International”), an India-based international IT company. Rolta International defaulted on senior notes, resulting in a judgment entered against the company of over $200mm including interest. Mr. Seiden was appointed as Receiver to take control over the Rolta International’s equity interests and have the authority to seize assets in an effort to put the turnover order into effect.