Insolvency Process

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Insolvency Process - Total results - 10
Airline shares tumble as global travel restrictions hit investor sentiment; SpiceJet slumps over 18% in early trade
Business

Airline shares tumble as global travel restrictions hit investor sentiment; SpiceJet slumps over 18% in early trade

Shares of IndiGo, SpiceJet and the defunct Jet Airways were deep in the red in the morning trade, with SpiceJet slumping over 18 percent.

NBCC gets NCLT nod to acquire debt-laden Jaypee Infratech; state-run firm to complete about 20,000 pending flats
Business

NBCC gets NCLT nod to acquire debt-laden Jaypee Infratech; state-run firm to complete about 20,000 pending flats

NBCC's proposal was approved by the lenders in the third round of bidding process to find a buyer for Jaypee Infratech.

Jaypee Infratech insolvency: Suraksha Realty may offer more cash and land to lenders, higher compensation to buyers
Business

Jaypee Infratech insolvency: Suraksha Realty may offer more cash and land to lenders, higher compensation to buyers

Mumbai-based Suraksha Realty, which is in the race with state-owned NBCC to acquire bankrupt Jaypee Infratech, is likely to offer additional cash and land to lenders, and higher delay penalty compensation to homebuyers to make its final resolution more lucrative for financial creditors, sources said

Jaypee Infratech crisis: Lenders ask NBCC, Suraksha Realty to sweeten offers, submit final bids by 3 December
Business

Jaypee Infratech crisis: Lenders ask NBCC, Suraksha Realty to sweeten offers, submit final bids by 3 December

Jaypee Infratech, a subsidiary of crisis-hit Jaiprakash Associates, went into insolvency process in August 2017 after the NCLT admitted an application by an IDBI Bank-led consortium.

Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process
Business

Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process

Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process,

Haldiram emerges sole bidder to buy debt-ridden dairy firm Kwality with offer of Rs 130 cr
Business

Haldiram emerges sole bidder to buy debt-ridden dairy firm Kwality with offer of Rs 130 cr

Kwality has a total debt of around Rs 1,900 crore, which means that lenders would have to take a significant haircut.

Jaypee Infratech insolvency: Creditors decide to vote on NBCC bid to acquire debt-laden realty firm from Friday
Business

Jaypee Infratech insolvency: Creditors decide to vote on NBCC bid to acquire debt-laden realty firm from Friday

The voting under the insolvency process, run by Jaypee Infratech's Interim Resolution Professional (IRP) Anuj Jain, will start from Friday and continue till 10 June, they added.

Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May
Business

Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May

At the last hearing, RCom had sought 357 days (from 30 May, 2018 to 30 April, 2019) exclusion in the insolvency process citing the stays it had on the process by the NCLAT and the Supreme Court.

SBI to sell debt in Essar Steel, invites EoI from financial institutions; move not to affect insolvency process
Business

SBI to sell debt in Essar Steel, invites EoI from financial institutions; move not to affect insolvency process

SBI, which is the largest creditor having total exposure of Rs 15,431.44 crore in Essar Steel, invited EoI from banks, asset reconstruction firms, and financial institutions for the proposed sale of its debt.