Committee Of-creditors

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Committee Of-creditors - Total results - 32
Lenders ask NCLAT for fresh round of bidding for debt-ridden Amtek Auto as UK-based Liberty House backs out
Business

Lenders ask NCLAT for fresh round of bidding for debt-ridden Amtek Auto as UK-based Liberty House backs out

CoC led by Corporation Bank informed the NCLAT that the second highest bidder Deccan Value Investors LP is also considering to submit a revised offer

NCLAT directs NCLT Ahmedabad to take call on ArcelorMittal's Essar Steel bid by 8 March
Business

NCLAT directs NCLT Ahmedabad to take call on ArcelorMittal's Essar Steel bid by 8 March

Earlier, on 29 January, NCLT Ahmedabad had rejected the debt settlement proposal put forth by the shareholders of Essar Steel saying the offer violates Section 12A of the Insolvency and Bankruptcy Code.

SBI plans to offload Essar Steel's bad loans worth over Rs 15,000 cr to recover dues, invites EoI from financial institutions
Business

SBI plans to offload Essar Steel's bad loans worth over Rs 15,000 cr to recover dues, invites EoI from financial institutions

SBI said the resolution plan for the recovery of non-performing asset (NPA) has been approved and filed in NCLT Ahmedabad, according to which the minimum recovery to the bank is Rs 11,313.42 crore.

NCLAT declines to stay debt-ridden ElectroSteel's delisting under resolution plan
Business

NCLAT declines to stay debt-ridden ElectroSteel's delisting under resolution plan

The NCLAT is already hearing a petition filed by Renaissance Steel, challenging the Vedanta's bid for Electrosteel.

Binani Cement lenders vote in favour of UltraTech's Rs 7,960 cr offer; override CoC decision favouring Dalmia Bharat
Business

Binani Cement lenders vote in favour of UltraTech's Rs 7,960 cr offer; override CoC decision favouring Dalmia Bharat

UltraTech now becomes the H1 bidder, replacing Rajputana Properties - the bidding company for the Dalmia Bharat-led consortium

NCLAT directs RP to give comments only on revised bids of Binani Cement
Business

NCLAT directs RP to give comments only on revised bids of Binani Cement

The NCLAT made the remarks while hearing an application filed by UltraTech in the Binani Cement insolvency matter.

Binani Cement insolvency: NCLT asks CoC to consider UltraTech's revised offer; Dalmia 'surprised' by order
Business

Binani Cement insolvency: NCLT asks CoC to consider UltraTech's revised offer; Dalmia 'surprised' by order

The NCLT bench also asked the CoC to reconsider resolution plan of Rajputana Properties Pvt Ltd (RRPL), if the Dalmia Bharat Group firm, was willing to raise its offer more than UltraTech's bid.

UltraTech questions resolution process, terms process of evaluating bids for Binani Cement 'fraudulent'
Business

UltraTech questions resolution process, terms process of evaluating bids for Binani Cement 'fraudulent'

UltraTech apprehends that it was not declared as the H1 bidder in view of the penalty imposed by the Competition Commission of India.

Binani Cement's Committee of Creditors to stick with Rs 6,350 cr offer from Dalmia Cement
Business

Binani Cement's Committee of Creditors to stick with Rs 6,350 cr offer from Dalmia Cement

The CoC did not approve the offer from its promoters Binani Industries, which is pitching for Rs 7,266 crore offer from the Aditya Birla Group firm UltraTech Cement, due to legal implications, sources said.

NCLT asks lenders to consider Binani Industries application, suggests out-of-court settlement
Business

NCLT asks lenders to consider Binani Industries application, suggests out-of-court settlement

NCLT asked the CoC whether it could consider application filed by Binani Industries, the parent company of Binani Cement, for a settlement outside tribunal

Insolvency and Bankruptcy Code: An efficient mechanism for tackling NPAs but resolution professionals face challenges
Business

Insolvency and Bankruptcy Code: An efficient mechanism for tackling NPAs but resolution professionals face challenges

Intention of bringing in new insolvency law was essentially to clean up the banking mess and thereby providing a boost to the economy