Insolvency Proceedings

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Insolvency Proceedings - Total results - 33
NCLAT rejects IFCI plea against ACCIL Hospitality, says can't seek fresh insolvency plea against corporate guarantor
Business

NCLAT rejects IFCI plea against ACCIL Hospitality, says can't seek fresh insolvency plea against corporate guarantor

IFCI had filed petition to initiate insolvency proceedings against ACCIL Hospitality, which had extended a corporate guaranty for Asian Colour Coated Ispat Limited.

Vijay Mallya cannot use pendency of plea to stall insolvency proceedings against him in other jurisdictions: SC
Business

Vijay Mallya cannot use pendency of plea to stall insolvency proceedings against him in other jurisdictions: SC

Vijay Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) with defaulting on bank loans to the tune of Rs 9,000 crore.

DHFL shares fall nearly 5% after NCLT admits RBI's petition to initiate insolvency proceedings
Business

DHFL shares fall nearly 5% after NCLT admits RBI's petition to initiate insolvency proceedings

The move came in after the Reserve Bank last Friday referred DHFL to the NCLT Mumbai to resolve the debt crisis at the third largest pure-play mortgage player, which owes close to Rs 1 lakh crore to the system

MahaRERA allows home-owners of DSK Group to complete stressed project in Pune; directs freezing of promoter's bank account for project
Business

MahaRERA allows home-owners of DSK Group to complete stressed project in Pune; directs freezing of promoter's bank account for project

DSK Group chairman DS Kulkarni and his wife are currently lodged in Yerawada jail in Pune for allegedly cheating nearly 33,000 depositors and investors of nearly Rs 2,043.18 crore

Jet Airways crisis: Govt orders SFIO probe into alleged mismanagement of funds, summons Naresh Goyal for questioning
Business

Jet Airways crisis: Govt orders SFIO probe into alleged mismanagement of funds, summons Naresh Goyal for questioning

The SFIO order refers to alleged siphoning of funds and unspecified financial irregularities at Jet Airways

Jet Airways crisis: Hinduja Group, Etihad Airways likely to bid for debt-laden airline via IBC route; Tata, Qatar Airways keen to join race too
Business

Jet Airways crisis: Hinduja Group, Etihad Airways likely to bid for debt-laden airline via IBC route; Tata, Qatar Airways keen to join race too

Qatar Airways is also expected to join the race for Jet Airways stake acquisition if the state-owned flag carrier of Qatar is able to find out a suitable local partner, the report said.

Jaypee Infratech creditors decide to put on vote NBCC's revised bid; homebuyers likely to favour state-run firm
Business

Jaypee Infratech creditors decide to put on vote NBCC's revised bid; homebuyers likely to favour state-run firm

On Friday, lenders had written to NBCC seeking clarifications on certain relief and concessions put forward by the public sector firm in its resolution plan.

NCLT dismisses ICICI Bank's plea to initiate insolvency proceedings against Era Infrastructure
Business

NCLT dismisses ICICI Bank's plea to initiate insolvency proceedings against Era Infrastructure

A two-member bench headed by NCLT President Justice M M Kumar observed that ICICI Bank has already raised similar claims against its parent company, Era Infra Engineering,

Jaypee Infratech takeover: Lenders seek clarification from NBCC on revised bid; creditors' panel to meet again on 14 May
Business

Jaypee Infratech takeover: Lenders seek clarification from NBCC on revised bid; creditors' panel to meet again on 14 May

NBCC was also asked how it will fund the takeover of Jaypee Infratech, sources said adding that NBCC officials answered all the queries.

NCLT rejects Ruias' debt settlement proposal to retake Essar Steel; company hints at challenging verdict
Business

NCLT rejects Ruias' debt settlement proposal to retake Essar Steel; company hints at challenging verdict

If it is not challenged again, this opens the first major victory for the LM Mittal-run ArcelorMittal into the country

NCLT dismisses HDFC plea for initiating insolvency proceedings against RHC Holding
Business

NCLT dismisses HDFC plea for initiating insolvency proceedings against RHC Holding

The National Company Law Tribunal (NCLT) on Thursday dismissed the plea of HDFC Ltd to initiate insolvency proceedings against RHC Holding, a non-banking financial company promoted by Singh brothers -- Malvinder Mohan Singh and Shivinder Mohan Singh.

IL&FS board chalks out new roadmap to address lenders queries; requests permission to place it before NCLAT
Business

IL&FS board chalks out new roadmap to address lenders queries; requests permission to place it before NCLAT

Lenders of IL&FS group opposed the 90-day moratorium over loan repayment by the debt-laden group and its subsidiaries.

Daiichi Sankyo moves NCLT to stay insolvency plea against RHC Holding initiated by HDFC Bank
Business

Daiichi Sankyo moves NCLT to stay insolvency plea against RHC Holding initiated by HDFC Bank

Daiichi Sankyo, which has filed an intervention application in the insolvency plea filed by HDFC Bank, said they have a decree to recover money against RHC Holding.

Another independent director of Jaypee Infratech resigns; fourth in last one week
Business

Another independent director of Jaypee Infratech resigns; fourth in last one week

Jaypee Infratech, which is facing insolvency proceedings, on Monday said that the company's independent director Sham Lal Mohan has resigned citing personal reasons

Supreme Court asks banks to maintain status quo in insolvency proceedings against power companies
Business

Supreme Court asks banks to maintain status quo in insolvency proceedings against power companies

A bench headed by Justice R F Nariman also asked the banks not to file any insolvency cases till November when the apex court would hear the matter.

Jaypee Infratech case: After Supreme Court washes hands off, homebuyers left in a tight spot
Business

Jaypee Infratech case: After Supreme Court washes hands off, homebuyers left in a tight spot

It is not the elevation to the ranks of financial creditor but to the ranks of secured creditors that would have given relief to the hapless homebuyers in the Jaypee Infratech case

Jaiprakash Associates, Jaypee Infra shares drop after SC asks NCLT to deal with insolvency proceedings against group
Business

Jaiprakash Associates, Jaypee Infra shares drop after SC asks NCLT to deal with insolvency proceedings against group

In a setback to the Jaypee group, the Supreme Court on Thursday asked the NCLT, Allahabad, to deal with insolvency proceedings against Jaypee Infratech Ltd (JIL) and barred the group or its promoters from participating in the fresh bidding process

Patanjali seeks more information on rival Adani Group's bid on bankruptcy-bound Ruchi Soya
Business

Patanjali seeks more information on rival Adani Group's bid on bankruptcy-bound Ruchi Soya

Last week, Ruchi Soya had in a regulatory filing confirmed that the CoC declared Adani Wilmar as H1 (highest) bidder and Patanjali stood as H2 (second highest).

UltraTech says some Binani Cement creditors back its $1.1 billion bid outside of bankruptcy process
Business

UltraTech says some Binani Cement creditors back its $1.1 billion bid outside of bankruptcy process

UltraTech said it had secured backing from some creditors of Binani Cement to buy firm for $1.1 billion outside of a bankruptcy process