Madras High Court has granted interim reprieve to two private power companies by staying insolvency proceedings against their stressed assets. Several other firms, meanwhile, are likely to
Category: IBC-SEBI
Insolvency case: ICICI Bank moves NCLT against JP Associates – The Financial Express
ICICI Bank on Monday filed an insolvency case against Jaiprakash Associates before the Allahabad bench of the National Company Law Tribunal (NCLT), which issued notices
Bidding battle: ArcelorMittal ups the ante in the race for Essar Steel – The Financial Express
Steel major ArcelorMittal will up its bid for Essar Steel to Rs 42,000 crore and will also settle its dues of Rs 7,000 crore to
IBC and Companies Act: Accountability of owners – Will the bells toll now? – The Financial Express
Shuchi Dutta & Kaushik Dutta The year is 1982. A young Swraj Paul has just attempted a hostile takeover of DCM and Escorts, two leading
Power NPA case: SC transfers all pleas filed in different HCs to itself | Business Standard News
In a relief to power companies, the Supreme Court on Tuesday transferred all pleas filed before different high courts to itself in power NPAs case. The apex
Power companies move HC to get more time to settle with lenders – The Economic Times
GMR Energy’s 1320-mw power plant in Chhattisgarh is closest to resolution with Adani Power as the highest bidder. Essar Power, GMR Energy and RattanIndia Power
Russia’s VTB Capital-backed Numetal’s second bid for bankrupt Essar Steel valid, rules NCLT – The Financial Express
The National Company Law Appellate Tribunal (NCLAT) on Friday ruled that Russia’s VTB Capital-backed Numetal’s second bid for bankrupt Essar Steel is eligible but gave
Has India Inc’s debt burden eased? – PORTFOLIO – The Hindu BusinessLine
While the overall picture looks less gloomy, the state of affairs in beleaguered companies has only worsened, reveal data for 1,197 NSE-listed companies The last
The Bankruptcy and Insolvency Code could set ‘naamdars’ straight | columns | Hindustan Times
The prime minister’s recent statement blaming the crisis in the banks on naamdars, or influential people, arranging loans for industrialists by phoning a bank reminds
NCLAT clears NuMetal and Vedanta’s bids for Essar Steel – The Hindu BusinessLine
The National Company Law Appellate Tribunal (NCLAT) on Friday ruled that Numetal’s ₹37,000-crore second-round bid for Essar Steel is valid, but asked rival bidder ArcelorMittal
Monetary limit for filing cases in DRT doubled to Rs 20 lakh – The Hindu BusinessLine
The government Thursday doubled the pecuniary limit to Rs 20 lakh for filing loan recovery application in the Debt Recovery Tribunals (DRT) by banks and
NCLT gives Lanco Teesta 90-day extension for insolvency resolution – NEWS – The Hindu BusinessLine
The National Company Law Tribunal (NCLT) Hyderabad has extended by 90 days the deadline for Lanco Teesta Hydel Power’s(LTHPPL) corporate insolvency resolution. The insolvency petition
NCLAT to deliver verdict on Numetal, ArcelorMittal in Essar case today | Business Standard News
The National Company Law Appellate Tribunal (NCLAT) will deliver its order on issues relating to the eligibility of Numetal and ArcelorMittal, the two bidders for Essar Steel
Amrapali Group: Supreme Court allows Corporation Bank to move NCLT for claims against Amrapali Group – The Economic Times
The bench said “permission is granted” to the bank to move to NCLT so that its claim did not become time barred. The Supreme Court
Bhushan Power & Steel: Bhushan Power lenders allowed JSW Steel to change parameters of bids: Tata Steel – The Economic Times
A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has listed the matter on September 24 for next hearing. Tata SteelNSE 0.99 % Thursday
With IBC the preferred route for debt recovery, NCLTs are snowed –The Hindu BusinessLine
The average haircut that lenders take under the Insolvency and Bankruptcy Code (IBC) is at 51 per cent so far, and the process has emerged
Third-party Insurance Rule: New rules of third-party insurance: Should you buy package or bundled policy now?
With the introduction of multi-year third-party covers, it becomes all the more important that you make an informed decision. If you buy a car after
Bank depositors should be recognised as financial creditors in IBC cases – The Economic Times
y M R Umarji The Financial Resolution and Deposit Insurance Bill, 2017 (FRDI Bill ), which was introduced in Parliament, was recently withdrawn by the
Are MSMEs hampered by insolvency and Bankruptcy code? – The Financial Express
One of the issues that has not yet caught the attention of the government or the IBBI is the treatment of MSMEs under the resolution
Debt resolution under IBC process: Banks take 47% haircut in RBI first list | Business Standard News
With debt resolution under the Insolvency and Bankruptcy Code process picking up, banks have seen Rs 550 billion of recoveries at an average 47% haircut in the Reserve Bank of India’s (RBI) first
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