Corporate Insolvency-resolution-process

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Corporate Insolvency-resolution-process - Total results - 15
Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline
Business

Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline

The second bidder, South America-based Synergy Group, did not submit a plan for Jet Airways and the group reportedly sought clarity on slots in the domestic and international routes of the grounded airline.

Insolvency process to be limited to real estate project concerned, not other group projects of developers: NCLAT
Business

Insolvency process to be limited to real estate project concerned, not other group projects of developers: NCLAT

NCLATsuggested there should be "reverse corporate insolvency resolution process" in such cases, where insolvency process is initiated against a realty company, no home buyer can approach NCLT or NCLAT to seek refunds.

NCLAT asks ED to release Bhushan Power and Steel's assets; puts on hold Rs 19,700-cr sale to JSW Steel
Business

NCLAT asks ED to release Bhushan Power and Steel's assets; puts on hold Rs 19,700-cr sale to JSW Steel

The ED had seized a portion of Bhushan Power and Steel's (BPSL) assets in the money laundering case against its former promoters

Lok Sabha passes amendments to Insolvency and Bankruptcy Code; Nirmala Sitharaman says liquidation of companies not law's sole agenda
Politics

Lok Sabha passes amendments to Insolvency and Bankruptcy Code; Nirmala Sitharaman says liquidation of companies not law's sole agenda

Lok Sabha on Thursday passed amendments to the Insolvency and Bankruptcy Code. Rajya Sabha has already passed the Bill. As many as seven sections of the Code are to be amended.

Financial institutions set to realise Rs 80,000 crore from Insolvency and Bankruptcy Code in FY20: Icra
Business

Financial institutions set to realise Rs 80,000 crore from Insolvency and Bankruptcy Code in FY20: Icra

During the last financial year, cases resolved under the IBC include Electrosteel Steel, Monnet Ispat Ltd and Amtek Auto Ltd

Patanjali renews interest in Ruchi Soya takeover as Adani Wilmar raises asset concerns of edible oil firm
Business

Patanjali renews interest in Ruchi Soya takeover as Adani Wilmar raises asset concerns of edible oil firm

Patanjali Ayurved has approached the NCLT challenging the decision by Ruchi Soya's lenders to approve Adani Wilmar's Rs 6,000 crore takeover bid.

Videocon goes bankrupt: Bids invited for debt-ridden firm under insolvency resolution process
Business

Videocon goes bankrupt: Bids invited for debt-ridden firm under insolvency resolution process

The corporate insolvency resolution process (CIRP) of Videocon Industries Ltd (VIL), which has debt of around Rs 20,000 crore, was commenced under the Insolvency and Bankruptcy Code (IBC) following an order by the NCLT Mumbai on 6 June 2018.

Revival of 45 bankrupt companies will meet 50% of lenders' claims: Insolvency and Bankruptcy Board chief MS Sahoo
Business

Revival of 45 bankrupt companies will meet 50% of lenders' claims: Insolvency and Bankruptcy Board chief MS Sahoo

About 1,100 companies have been admitted in the Corporate Insolvency Resolution Process (CIRP) since the implementation of the Insolvency and Bankruptcy Code (IBC) in 2016

ICICI Bank files insolvency plea against Jaiprakash Associates in NCLT; matter to be heard on 17 September
Business

ICICI Bank files insolvency plea against Jaiprakash Associates in NCLT; matter to be heard on 17 September

If NCLT allows the plea of the ICICI bank, then this will be the second company of the crisis hit Jaypee group facing insolvency.

NCLAT reserves order over Bhushan Steel's ex-promoter challenging sale of stressed firm to Tatas
Business

NCLAT reserves order over Bhushan Steel's ex-promoter challenging sale of stressed firm to Tatas

Nearly 1,700 other operational creditors of Bhushan Steel has also moved the appellate tribunal seeking to know how Tata Steel, which has committed to pay Rs 1,200 crore would pay them.

Ruchi Soya insolvency: Patanjali won't back out from race to acquire debt-laden company, says Acharya Balkrishna
Business

Ruchi Soya insolvency: Patanjali won't back out from race to acquire debt-laden company, says Acharya Balkrishna

Adani Wilmar, which sells cooking oil under the Fortune brand, and Baba Ramdev-led Patanjali are in the fray to acquire debt-ridden Ruchi Soya

Ruchi Soya auction: Resolution professional seeks 8-10 days to reply on issues raised by Patanjali Ayurved
Business

Ruchi Soya auction: Resolution professional seeks 8-10 days to reply on issues raised by Patanjali Ayurved

Patanjali group has also sought information about the parameters adopted by the RP to declare Adani Wilmar as highest bidder

Ruchi Soya auction: Baba Ramdev's Patanjali Ayurved gets time till 16 Jun to submit revised bid
Business

Ruchi Soya auction: Baba Ramdev's Patanjali Ayurved gets time till 16 Jun to submit revised bid

Ruchi Soya in a regulatory filing on Wednesday confirmed that the CoC declared Adani Wilmar as H1 (highest) bidder and Patanjali stood as H2 (second highest)

Tatas complete acquisition of Bhushan Steel; deal helps fraud-hit PNB offset some losses from Nirav Modi scam
Business

Tatas complete acquisition of Bhushan Steel; deal helps fraud-hit PNB offset some losses from Nirav Modi scam

Bamnipal Steel, a wholly-owned subsidiary of Tata Steel, has completed the acquisition of a controlling stake of 72.65 percent in Bhushan Steel.

NuMetal offers Rs 37,000 cr for Essar Steel, wants second round of bids opened
Business

NuMetal offers Rs 37,000 cr for Essar Steel, wants second round of bids opened

Essar Steel is being auctioned after the company defaulted on payment of about Rs 49,000 crore loan to lenders.