Bankruptcy Court

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Bankruptcy Court - Total results - 13
PMC Bank crisis: Economic Offences Wing files case against bank management, promoters of HDIL; SIT to probe case
Business

PMC Bank crisis: Economic Offences Wing files case against bank management, promoters of HDIL; SIT to probe case

The bank, which has 137 branches and over Rs 11,000 crore in deposits, has been put under restrictions since last week after the RBI discovered certain financial irregularities in the functioning of the multi-state lender.

PMC Bank's actual exposure to HDIL at over Rs 6,500 cr or 73% of total loan book, says suspended MD Thomas in letter to RBI
Business

PMC Bank's actual exposure to HDIL at over Rs 6,500 cr or 73% of total loan book, says suspended MD Thomas in letter to RBI

In the confession letter, Thomas also put the actual NPA number at 60-70 percent as against a reported net NPA of 2.19 percent as of 31 March 2019, the source said.

Jet Airways stake sale: Lenders of bankrupt airline give third extension for EoI to 31 Aug
Business

Jet Airways stake sale: Lenders of bankrupt airline give third extension for EoI to 31 Aug

The bankruptcy court had on 20 June appointed Ashish Chhawchharia as RP, who late last month had floated EoIs for Jet Airways that stopped flying mid-April.

Cash-strapped Jet Airways lenders attempt to sell bankrupt carrier again; to call bids for asset sale by 20 July
Business

Cash-strapped Jet Airways lenders attempt to sell bankrupt carrier again; to call bids for asset sale by 20 July

Last month, JetAirways' creditors, led by State Bank of India (SBI), took the airline to the bankruptcy court after failing to agree on a revival plan

Suzlon Energy defaults on $172 mn bond payment, company in talks with global private equity funds to sell stake
Business

Suzlon Energy defaults on $172 mn bond payment, company in talks with global private equity funds to sell stake

Suzlon's creditors, led by the country's biggest lenders State Bank of India, are studying a one-time settlement plan offered by the company, said sources

Govt should not rescue cash-strapped Jet Airways, it's not in State's interest to run airlines
Business

Govt should not rescue cash-strapped Jet Airways, it's not in State's interest to run airlines

The operational creditors of Jet Airways, everyone from its service providers to its workers, can still take the airline to the bankruptcy court.

SC repeals RBI's 12 February circular: Lenders can now refer defaulters to NCLT on case by case basis: Bankers
Business

SC repeals RBI's 12 February circular: Lenders can now refer defaulters to NCLT on case by case basis: Bankers

According to former RBI deputy governor R Gandhi banks can now take defaulting companies on their own instead of being directed by the regulator.

RCom looks to real estate assets, Jio deal to pay Ericsson dues of Rs 453 cr after Supreme Court order
Business

RCom looks to real estate assets, Jio deal to pay Ericsson dues of Rs 453 cr after Supreme Court order

RCom owes a total Rs 571 crore to the Swedish telecoms equipment maker, including a one-time settlement of Rs 550 crore and interest payments of Rs 21 crore.

Cash-strapped IL&FS to sell controlling stake in green energy business; firm's board to issue EoIs soon
Business

Cash-strapped IL&FS to sell controlling stake in green energy business; firm's board to issue EoIs soon

The renewable assets of IL&FS include operating wind power plants with an aggregate capacity of 873.5-mw, and under-construction wind power plants worth 104 mw capacity.

Standard Chartered Bank moves NCLT against CoC selecting ArcelorMittal for Essar Steel
Business

Standard Chartered Bank moves NCLT against CoC selecting ArcelorMittal for Essar Steel

Standard Chartered Bank claimed that ArcelorMittal's revised bid of Rs 42,000 crore was never considered by the CoC.

IL&FS crisis: Govt appointed board hints at corruption by past management; to conduct special audit of key group of cos
Business

IL&FS crisis: Govt appointed board hints at corruption by past management; to conduct special audit of key group of cos

The new IL&FS board pegged the total debt of the group by over Rs 3,000 crore at Rs 94,215.6 crore as of 8 October

Ex-Wimbledon champion Boris Becker declared bankrupt by London court for long-standing debt
Sports

Ex-Wimbledon champion Boris Becker declared bankrupt by London court for long-standing debt

Boris Becker's lawyers pleaded with a Bankruptcy Court registrar to allow him a "last chance" to pay off the debt.

Kodak, Apple patent fight to remain in bankruptcy court
News & Analysis

Kodak, Apple patent fight to remain in bankruptcy court

Apple Inc lost on Thursday a bid to transfer its patent dispute with Eastman Kodak Co out of bankruptcy ...