Tata Steel’s acquisition of Bhushan Steel may hit a hurdle as the National Company Law Appellate Tribunal (NCLAT) will re-examine Tata Steel’s eligibility as a
Category: IBC-SEBI
NCLAT reserves order over Bhushan Steel, challenging sale to Tata Steel | Business Standard News
The National Company Law Appellate Tribunal today reserved its order over plea filed by former promoter of Bhushan Steel challenging the sale of the debt-ridden
Delays in resolution and excessive litigation lead banks to sell NCLT exposures for quick cash recoveries – The Financial Express
The accounts which are reported to have seen the most number of lenders exiting are Essar Steel and Bhushan Steel. Lenders have put on sale
One more NPA account resolved in just 5 days; bankrupt Amtek Auto goes to Liberty House – The Financial Express
Amtek Auto, which owes nearly Rs 12,000 crore, was among the 12 big accounts identified by the Reserve Bank of India. The National Company Law
One step back: NCLT rejects Jyoti resolution plan – The Financial Express
While the financial creditors of the company claimed Rs 8,226 crore, the NCLT has admitted claims worth Rs 7,625 crore. The Mumbai bench of the
NCLAT questions Tata Steel on eligibility in Bhushan Steel case – The Financial Express
Bhushan Energy promoters sought the appellate tribunal’s intervention as the termination of the PPA might reduce its valuation. The National Company Law Appellate Tribunal (NCLAT)
Making Sashakt scheme work – The Financial Express
Earlier this month, a committee of representatives from several banks—led by the Punjab National Bank chairman Sunil Mehta—announced an alternative mechanism for resolving bad loans,
4,387 large borrowers account for 90 per cent of NPAs – The Financial Express
The government today said 4,387 large borrowers accounted for Rs 8.6 lakh crore or 90 per cent of total non-performing assets (NPAs) of the banking
A desirable route to flexible resolution
The new inter-creditor agreement (ICA), signed by two dozen banks and financial institutions, to resolve bad loans is welcome. It gives lenders flexibility in taking
IBC amendment allows firms to bid for multiple stressed assets – Business Line
Corporate houses with deep pockets can bid for multiple distressed assets under the insolvency process without getting themselves disqualified under Section 29A of the Insolvency
Banks, FIs come together for faster resolution of stressed accounts – Business Line
In a bid to expeditiously tackle stressed assets aggregating ₹3.10 lakh crore in the ₹50-500-crore category, 24 banks on Monday signed an Inter-Creditor Agreement (ICA)
24 lenders sign an inter-creditor agreement for faster NPA resolutions | Business Standard News
Two dozen lenders including State Bank of India and Punjab National Bank on Monday signed an inter-creditor agreement (ICA) to speed up the resolution process of stressed assets in the range of Rs
Insolvency process: CoC open to new bids for Deccan Chronicle, says NCLT | Business Standard News
The Committee of Creditors of Deccan Chronicle Holdings Limited (DCHL) was open to examining fresh resolution applications, including a modified resolution plan submitted earlier this month by Srei group’s
Moving ahead: Insolvency amendment Bill introduced in Lok Sabha – The Financial Express
Finance minister Piyush Goyal on Monday introduced a Bill to amend the insolvency law that would recognise home buyers as financial creditors and allow genuine
Bhushan Steel case: NCLAT asks Tata Steel to provide resolution plan details – The Financial Express
Hearing a petition filed by Larsen & Toubro (L&T), the appellate tribunal asked Tata Steel to provide the details by Tuesday, when it is scheduled
Bhushan Power: Little liberty for lenders to select winning bidder – The Financial Express
Bhushan Power and Steel owed lenders close to Rs 47,000 crore as on March 31, 2017. Even though it is yet to take a call
Lenders sign inter-creditor pact to tackle bad loans – The Financial Express
Lenders sign inter-creditor pact to tackle bad loans As many as two dozen lenders signed the inter-creditor agreement (ICA) on Monday to tackle bad loans
Bhushan Power: Little liberty for lenders to select winning bidder – The Financial Express
Bhushan Power and Steel owed lenders close to Rs 47,000 crore as on March 31, 2017. Even though it is yet to take a call
NCLAT directs lenders to consider all 3 bids for Bhushan – Business Line
The National Company Law Appellate Tribunal has directed the Committee of Creditors of Bhushan Power to consider all three bids submitted by Tata Steel, Liberty
JAL asks SC to evaluate its financial capability – The Financial Express
Homebuyers also argued that an independent committee be set up which can assess the financial health and credibility of interested bidders who have expressed interest
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