They could've contacted Edelweiss, but they would've needed to get a formal approval from the bondholders, and that could only have come from the trustee. A single Edelweiss company wouldn't be authorised to represent everyone else.
But also note that these distinctions matter because Edelweiss ended up changing its mind. If it hadn't, then the formalisms would be irrelevant.
Just wow of a read Shreedhar. Trying to understand, should Ecstasy be ideally contacting the trustee in this scenario ?
Thank you!
They could've contacted Edelweiss, but they would've needed to get a formal approval from the bondholders, and that could only have come from the trustee. A single Edelweiss company wouldn't be authorised to represent everyone else.
But also note that these distinctions matter because Edelweiss ended up changing its mind. If it hadn't, then the formalisms would be irrelevant.