Indian lenders will have access to Rs 70 billion deposited by ArcelorMittal in an escrow account, but only after the L N Mittal-owned company gets
Category: IBC-SEBI
Tata Steel becomes the first to buy a stressed asset under IBC – Business Line–19.05.2018
With the acquisition of Bhushan Steel Ltd (BSL) for ₹35,200 crore, Tata Steel has emerged the first company to acquire a stressed asset under the
NCLT annuls Jaypee Infra’s land mortgage with lenders of Jaypee Associates – Business Line–19.05.2018-R
In a landmark ruling, the National Company Law Tribunal (NCLT) has concluded that Jaypee Infratech’s move to create a mortgage of 759 acres of land
RCom: NCLT admits Ericsson’s bankruptcy plea against RCom, subsidiaries – The Economic Times–18.05.2018
NCLT admits Ericsson’s bankruptcy plea against Reliance Communications, subsidiaries The dedicated bankruptcy court has admitted three insolvency petitions filed against Reliance Communications and its subsidiaries, by telecom gear maker Ericsson,
Bhushan Steel: Tata Steel’s resolution plan gets NCLT nod ; The Financial Express–16.05.2018
The National Company Law Tribunal (NCLT) on Tuesday approved Tata Steel’s resolution plan for taking over Bhushan Steel. It dismissed a plea filed by the employees of
Tata Steel to acquire Bhushan Steel through its step-down subsidiary Bamnipal Steel – The Financial Express–16.05.2018
Tata Steel, whose bid for debt-ridden Bhushan Steel was approved by NCLT, would implement the resolution plan through its step-down subsidiary Bamnipal Steel Ltd. Bamnipal Steel
Pay Rs 5 crore more to refund home buyers: Supreme Court tells Supertech – The Financial Express–16.05.2018
The Supreme Court today directed realty firm Supertech Ltd to deposit Rs five crore more within four weeks to refund to the home-buyers who have
The IBC boost for acquisitions – The Financial Express–16.05.2018
The Insolvency and Bankruptcy Code was made operational in December 2016. Soon after, RBI identified 12 large NPAs with an outstanding debt of Rs 26 billion and
Beware a lending freeze: PSBs need a structural change in loan-giving | Business Standard Editorials–16.05.2018
The Reserve Bank of India (RBI) is reportedly planning to ask several public sector banks (PSBs) under the prompt corrective action (PCA) framework to restrict their exposure to fresh credit and
ArcelorMittal transfers Rs 7,000 crore to SBI escrow a/c | The Indian Express–16.05.2018
ArcelorMittal, one of the two key contenders for the bankrupt Essar Steel, is understood to have transferred about Rs 7,000 crore into a State Bank
NCLT : Tecpro promoters siphoned off funds, resolution professional tells NCLT – The Economic Times–14.05.2018
The debt resolution of Tecpro Systems that owes about Rs 7,000 crore to banks could run into trouble, with the official appointed by the bankruptcy court to handle the
Removing NCLT delays – The Financial Express–14.05.2018
Tata Steel’s Move to appeal the decision of the Delhi bench of the National Company Law Tribunal (NCLT) to ask the Committee of Creditors (CoC)
Supreme Court to mull say for home buyers in liquidation – The Economic Times–13.05.2018
The Supreme Court said on Friday that it would settle grey areas in the insolvency and bankruptcy code (IBC) to see what role homebuyers could play in liquidation proceedings. The
Insolvency and Bankruptcy Code: IBC ordinance may restrict relief proposed for MSMEs – The Economic Times–12.05.2018
The government has further revised the ordinance it proposes to move to make changes to the Insolvency and Bankruptcy Code (IBC). The updated note that will be sent to
NCLAT admits Numetal plea, hearing on May 17 – The Financial Express–12.05.2018
The National Company Law Appellate Tribunal (NCLAT) on Friday admitted Numetal’s plea against the decision of committee of creditors (CoC) of Essar Steel, which said
Adhunik Metaliks: NCLT keeps issue of additional time open – The Financial Express–12.05.2018
The Kolkata bench of the National Company Law Tribunal (NCLT) on Friday kept the issue of exclusion of requisite number of days from the mandated
SC gives IBC process a boost on loan waivers – The Financial Express–11.05.2018
Given how a large part of the government’s plan to revive investments is predicated on a successful conclusion of the insolvency process under the Insolvency
SC decision gives IBC process a fillip – The Financial Express–11.05.2018
The recent Supreme Court decision holding that the waiver of loan is not income in the hands of the borrower could not have come at
Binani Cement Insolvency: SC rejects Dalmia plea for stay on NCLAT order – The Financial Express–11.05.2018
The NCLAT’s interim order had stated that during the pendency of Dalmia Bharat’s appeal, the CoC can approve any plan it deems fit but that
NCLT reserves judgment on Monnet Ispat resolution plan – The Financial Express–11.05.2018
The Mumbai bench of the National Company Law Tribunal (NCLT) reserved its judgment on JSW Steel-Aion Investment’s resolution plan for Monnet Ispat after legal counsels
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