Claims worth Rs 9,119 crore from financial creditors of Ruchi Soya had been admitted by the NCLT as on May 18, 2018. The Mumbai bench
Category: IBC-SEBI
IBC delisting norms: Small shareholders ask Sebi for review | Business Standard News–08.06.2018
Minority shareholders are miffed at the lenient delisting process for companies facing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). According to sources, several investor protection
Videocon case: NCLT hears State Bank of India petition | The Indian Express–08.06.2018
On June 6, another bench of NCLT admitted a plea from SBI to initiate a resolution process against Videocon Industries Ltd, the flagship firm of
NCLT admits Videocon case; Venugopal Dhoot says banks to recover 80% debt – The Economic Times–07.06.2018
The National Company Law Tribunal (NCLT) has on Wednesday admitted Videocon IndustriesNSE -4.74 % under the Insolvency and Bankruptcy Code, and the debt-ridden firm is hopeful that its lenders
Relief for MSMEs under IBC, promoter can bid for his enterprise – The Economic Times–07.06.2018
The development provides major relief to MSMEs facing insolvency proceedings. The Government on Wednesday provided major relief to MSMEs facing insolvency proceeding under the Insolvency & Bankruptcy Code Ordinance,
Adhunik Metaliks case: NCLT reserves order on extra time – The Financial Express–07.06.2018
The Kolkata bench of the National Company Law Tribunal (NCLT) on Wednesday reserved its order over the issue of exclusion of requisite number of days
Amtek case: NCLT reserves order on Liberty House eligibility – The Financial Express-07.06.2018
The Chandigarh bench of the National Company Law Tribunal (NCLT) has reserved its order on whether Liberty House was eligible to bid for the bankrupt
The power sector solution that is not–Economic Times–06.06.2018
Lenders have identified 11 power projects with a combined installed capacity of nearly 13,000 MW that have turned into non-performing assets for a special resolution
IBC’s blind spot: Rights of operational creditors need to be spelt out | Business Standard Editorials–06.06.2018
As the first exercise of its kind in India, the Insolvency and Bankruptcy Code (IBC) has been a work in progress, entailing periodic adjustments to
Insolvency and Bankruptcy Code Monitor: Legal challenges hold up progress in most cases | The Indian Express–06.06.2018
Bhushan Steel’s acquisition by a Tata firm only success story so far. While the Insolvency and Bankruptcy Code (IBC) has ushered in significant urgency in
Vedanta enters steel with acquisition of Electrosteel Steels, to hold 90% | Business Standard News–05.06.2018
Anil Agarwal-promoted Vedanta Ltd announced on Monday that it has acquired the control of Electrosteel Steels Ltd (ESL) under a resolution plan that became effective Monday. “Pursuant
With riders: Sebi exempts IBC firms from delisting norms | The Indian Express–05.06.2018
Certain relaxations have also been extended to insolvent entities with respect to regulations pertaining to substantial acquisition of shares and takeovers as well as issue
Don’t finalise Binani Cement asset sale till further orders: Supreme Court | The Indian Express–05.06.2018
The Supreme Court Monday restrained finalisation of the sale of assets of the bankrupt Binani Cement without its prior approval. However, it allowed the debt
Insolvency: Binani Cement submits UltraTech plan for NCLT approval | Business Standard News–02.06.2018
After the resolution professional (RP) of Binani Cement submitted the resolution plan of UltraTech Cement’s Rs 79.60 billion offer for approval from the Kolkata bench of the
Relief for power sector as Allahabad High Court halts RBI’s NPA order – Business Line–02.06.2018
In a major relief, the Allahabad High Court on Thursday put on hold action against the power sector under the RBI’s stressed assets framework. By
Land Transfer: NCLAT admits JAL plea against NCLT order – The Financial Express–01.06.2018
The National Company Law Appellate Tribunal (NCLAT) on Thursday admitted Jaiprakash Associates’ (JAL) plea challenging the Allahabad National Company Law Tribunal’s (NCLT) May 16 order
RCom | Jio: NCLAT puts RCom’s insolvency on hold, allows lenders to complete deal with Jio–31.05.2018
Reliance Communications agreed to pay Rs 550 crore to Ericsson to settle an eight-month legal dispute over dues, paving the way for the Anil Ambani-controlled
ultratech cement: Have got LoI from Binani lenders to acquire it, says UltraTech – The Economic Times–31.05.2018
The lenders of Binani Cement have issued letter of intent to UltraTech after approving its bid to acquire the company under the bankruptcy code, Aditya Birla group
Electrosteel: NCLAT allows Vedanta to make Rs 5,320-cr payment upfront – The Financial Express–31.05.2018
The National Company Law Appellate Tribunal (NCLAT) on Wednesday permitted Vedanta, promoted by Anil Agarwal, to make an upfront payment of Rs 5,320 crore to
NCLAT asks Tata Steel if it would pay Bhushan Steel’s GST, income tax dues | Business Standard News–31.05.2018
The company law appellate tribunal on Wednesday asked Tata Steel if it will clear the statutory dues like income tax and GST of Bhushan Steel, a company it
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