Resolution Plan

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Resolution Plan - Total results - 39
NCLAT gives conditional go-ahead to NBCC for acquiring Jaypee Infratech; asks IRP to form interim monitoring committee
Business

NCLAT gives conditional go-ahead to NBCC for acquiring Jaypee Infratech; asks IRP to form interim monitoring committee

In its bid, the NBCC had proposed to complete over 20,000 pending flats in housing projects launched by Jaypee Infratech in Noida and Greater Noida (Uttar Pradesh).

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.

RCom creditors panel to vote on Rs 23,000-cr resolution plans on 24 February; loans of Chinese lenders to reduce by nearly 65%
Business

RCom creditors panel to vote on Rs 23,000-cr resolution plans on 24 February; loans of Chinese lenders to reduce by nearly 65%

RCom's secured debt is estimated to be around Rs 33,000 crore. Lenders submitted claims of around Rs 49,000 crore in August.

Vedanta profit rises 49% to Rs 2,348 crore in December quarter on back of lower expenses; to acquire Ferro Alloys Corporation for Rs 280 cr
Business

Vedanta profit rises 49% to Rs 2,348 crore in December quarter on back of lower expenses; to acquire Ferro Alloys Corporation for Rs 280 cr

Vedanta's consolidated expenses, however, declined to Rs 18,369 crore as against Rs 21,589 crore in the year-ago period.

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.

NBCC decides not to dilute conditions in revised offer for Jaypee Infratech; lenders flag serious concerns about conditional bid
Business

NBCC decides not to dilute conditions in revised offer for Jaypee Infratech; lenders flag serious concerns about conditional bid

The NBCC's revised bid to acquire Jaypee Infratech and complete the work of over 20,000 flats would be discussed on 14 May by CoC

Jaypee Infratech's IRP finds NBCC bid conditional, non-binding; creditors' panel meets on Thursday to discuss revised offer
Business

Jaypee Infratech's IRP finds NBCC bid conditional, non-binding; creditors' panel meets on Thursday to discuss revised offer

The court-mandated deadline for completing the resolution plan for Japyee Infratech ended on 6 May and the CoC has sought an extension of the deadline.

NCLAT likely to direct ArcelorMittal to deposit Rs 42,000-cr bid amount for acquiring Essar Steel
Business

NCLAT likely to direct ArcelorMittal to deposit Rs 42,000-cr bid amount for acquiring Essar Steel

The bench also asked ArcelorMittal to file an affidavit before it, detailing the steps to be taken for implementation of the resolution plan of debt-ridden Essar Steel.

Jet Airways grounds more planes after failing to pay lessors; seeks access to bailout funds promised by banks
Business

Jet Airways grounds more planes after failing to pay lessors; seeks access to bailout funds promised by banks

With a smaller operating fleet, Jet Airways has given pilots and cabin crew the option of flexible working days and taking extended leave with or without pay.

DGCA approves Jet Airways' summer schedule only till 25 April; other carriers get nod till 26 October
Business

DGCA approves Jet Airways' summer schedule only till 25 April; other carriers get nod till 26 October

A major crisis at the struggling Jet Airways was averted Sunday after its pilots' body, National Aviator's Guild, deferred till 15 April its call for halting operations.

Jet Airways crisis: SBI-led consortium draws out fresh plan to revive debt-laden airline; Etihad not keen to invest more
Business

Jet Airways crisis: SBI-led consortium draws out fresh plan to revive debt-laden airline; Etihad not keen to invest more

Etihad, Jet Airways' previous strategic partner, is not keen to invest more and hike its stake in the cash-strapped airline, said the report.

Jet Airways delays ECB repayment amid liquidity crunch, defaults debt payback fourth time in recent months
Business

Jet Airways delays ECB repayment amid liquidity crunch, defaults debt payback fourth time in recent months

As part of the resolution plan, on Monday, Naresh Goyal quit as chairman of Jet Airways and the board also approved lenders taking control as well as immediate fund infusion of Rs 1,500 crore.

Jet Airways likely to name former SBI chief Arun Kumar Purwar as chairman; lenders' consortium to have two nominees on board
Business

Jet Airways likely to name former SBI chief Arun Kumar Purwar as chairman; lenders' consortium to have two nominees on board

Shares of Jet Airways continued their upward journey on Wednesday and closed over 3 percent higher after Jet Airways set an 'ambitious' target of flying 40 additional aircraft by the end of April.

Jet Airways staff wants representation in new management committee, writes to SBI chief
Business

Jet Airways staff wants representation in new management committee, writes to SBI chief

All India Jet Airways Officers and Staff Association said the airline management has not been addressing many issues that employees have been facing

Jet Airways crisis: Timeline of events that led to founder-chairman Naresh Goyal's exit from airline's board
Business

Jet Airways crisis: Timeline of events that led to founder-chairman Naresh Goyal's exit from airline's board

Jet Airways has been caught in a slew of issues including delayed payments to banks, suppliers and aircraft lessors besides payment to pilots and engineering staff.

Etihad not keen to make fresh investments in Jet Airways; 31 March board meet to decide course of action
Business

Etihad not keen to make fresh investments in Jet Airways; 31 March board meet to decide course of action

Early last week, Etihad had refused to participate in the debt-laden Jet Airways' rights issue or infuse fresh funds under the current terms and conditions of the resolution plan.

Jet Airways delays interest payment to debenture holder on financial constraints as rescue deal hits yet another hurdle
Business

Jet Airways delays interest payment to debenture holder on financial constraints as rescue deal hits yet another hurdle

Jet Airways has been saddled with debt of over Rs 8,000 crore due to tight competition and rising fuel costs, forcing the carrier to ground several of its aircraft.

Jet Airways crisis: Bankers exude confidence of reaching resolution plan for airline as early as next week
Business

Jet Airways crisis: Bankers exude confidence of reaching resolution plan for airline as early as next week

Jet Airways has a debt of over Rs 8,200 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.

Naresh Goyal seeks Rs 750-cr lifeline from equity partner Etihad, warns delay may ground Jet Airways
Business

Naresh Goyal seeks Rs 750-cr lifeline from equity partner Etihad, warns delay may ground Jet Airways

It can be noted that Etihad board is meeting in Abu Dhabi on Monday to discuss the resolution plan for Jet Airways in which it owns 24 percent stake since April 2014.

Jet Airways without Naresh Goyal as chairman: Will new stakeholders be able to get beleagured airline off ground?
Business

Jet Airways without Naresh Goyal as chairman: Will new stakeholders be able to get beleagured airline off ground?

The new management will be under immense scrutiny of shareholder groups to correct everything that has gone wrong under Naresh Goyal’s leadership.