In the initial bidding round for Essar Steel, one of the bidders was Numetal whose shareholders included a trust in which Rewant Ruia was a
Category: IBC-SEBI
SBI puts Ballarpur Ind, Jai Balaji, Rohit Ferro Tech exposures on sale – The Financial Express
For one account — Modern India Concast — SBI has set a reserve price 27% higher than its outstanding of Rs 71 crore. State Bank
Two independent directors of Jaypee Infratech resign – The Economic Times
Jaypee Infratech, a subsidiary of Jaypee Group’s flagship firm Jaiprakash Associates, is developing about 32,000 flats, of which it has delivered 9,500 apartments. Jaypee Infratech
NPA: Power projects heading to NCLT may get to retain fuel supply pacts – The Economic Times
It is estimated that 60,000-65,000 mw of about 75,000 mw operational coal- based power capacity in the private sector may be under financial stress. Stressed
NPA uncertainty deepens | Business Standard Editorials
On Tuesday, the Supreme Court issued an order staying further moves against the distressed power sector by its creditors. It also transferred all the pleas in various
IBC: Relief for companies as SC stays RBI circular – The Hindu BusinessLine
In a breather to stressed companies, the Supreme Court on Tuesday put an interim stay on the Reserve Bank of India’s February 12 circular asking
‘RBI should have pushed earlier for enactment of the Bankruptcy Code’ – The Hindu BusinessLine
The Reserve Bank of India should probably have raised more flags about the quality of lending in the early days of banking exuberance, said former
Stressed power firms: Relief for 2 power projects; Madras HC stays insolvency proceedings – The Economic Times
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
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
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