The Committee of Creditors (CoC) of Binani Cement Limited (BCL) will meet on Thursday, May 10 to decide on the ₹8,000 crore bid by Kumar
Category: IBC-SEBI
Insolvency and Bankruptcy Code: Government considers time limit for withdrawal of cases under IBC ; The Economic Times–08.05.2018
Companies referred to bankruptcy courts may not be allowed to leave the process once bids have been invited or a resolution plan has been accepted. The government
Insolvency: Promoters submit Rs 100 bn revival plan for Jaypee Infratech | Business Standard News–08.05.2018
Jaypee group chairman Manoj Gaur made a fresh effort to gain back control of Jaypee Infratech — a real estate company for which another firm has already been named the
Binani Cement lenders to meet on Wednesday to mull UltraTech revised offer | Business Standard News–08.05.2018
The Committee of Creditors (CoC) of Binani Cement is likely to meet on Wednesday this week to consider the revised offer of Rs 79.60 billion from UltraTech Cement for
Insolvency regulator shows teeth – Business Line–08.05.2018
Sending a strong signal, insolvency regulator IBBI’s Disciplinary Committee (DC) has suspended the registration of an insolvency resolution professional (IRP) Bhavna Sanjay Ruia for one
Mapping insolvency: ArcelorMittal may pay off dues as ‘goodwill gesture’ | Business Standard News–04.05.2018—-*****
ArcelorMittal made a strong pitch for eligibility before the committee of creditors (CoC) on Wednesday, but if asked to pay dues on account of defaulting companies,
A sensible ruling on Binani Cement–Economic Times–04.05.2018
The National Company Law Tribunal (NCLT) is right to direct the creditors of Binani Cement to consider UltraTech Cement’s higher bid, even as it has
IBC will deliver but it needs time–Economic Times–04.05.2018
Rashesh Shah Since the Insolvency and Bankruptcy Code (IBC) came into effect about a year ago, one refrain has been the lack of progress on
Resolution professional valued Binani Cement assets improperly: NCLT | Business Standard News–04.05.2018—–*****
The Kolkata Bench of National Company Law Tribunal (NCLT), in its order, has upheld the allegations filed by the promoter of Binani Cement against the company’s resolution professional, Vijay
ArcelorMittal offers to clear dues of Uttam Galva and KSS Petron – Business Line–04.05.2018
ArcelorMittal, the world’s largest steel company, has offered to pay the ₹8,500-crore debt of both Uttam Galva Steels and KSS Petron as a “goodwill” gesture
Insolvency deadline ends today: Thriveni plan cancelled; Lanco may face liquidation | The Indian Express–04.05.2018
The company is part of a dozen troubled companies —with a combined debt of close to Rs 2.4 lakh crore — which the Reserve Bank
Bankruptcy: View: Government should not let bankruptcy resolution be taken for a ride by crony capitalists – The Economic Times–02.05.2018
Those who live by the sword die by the sword. Is crony capitalism in India to be slayed by cronies? Unless specific, urgent attention is paid to
Operational creditors file application to stop Alok’s liquidation – The Economic Times–02.05.2018
A group of 10 operational creditors has filed an application objecting to the proposed liquidation of the debt-laden Alok Industries under insolvency proceedings intensifying the fight to save a
Bhushan Power: Final call on second round of bids on Tuesday – The Financial Express–01.05.2018
The committee of creditors (CoC) for Bhushan Power and Steel are in the process of deciding whether to go for a second round of bidding
Beware wilful defaulters! Now PSBs start forensic audit of ‘potential’ NPA accounts – The Financial Express–01.05.2018
With an aim to identify possible non performing assets (NPAs), public sector banks have started carrying out audits on accounts which have loans of above
Insolvency process: Adhunik Metaliks RP likely to seek more time — The Financial Express–01.05.2018
For Adhunik Metaliks, there are only two resolution applicants — UK-based Liberty House and Maharashtra Seamless of the DP Jindal Group. In an attempt to
IBBI must thwart bankruptcy getting stymied–Economic Times–01.05.2018
The rules set to implement the Insolvency and Bankruptcy Code would appear to be in conflict with the public policy goal of securing the highest
NCLAT to hear NuMetal, ArcelorMittal petition in Essar Steel case on May 17 | business news | Hindustan Times–01.05.2018
The National Company Law Appellate Tribunal (NCLAT) on Friday agreed to hear cross petitions filed by Essar Steel bidders NuMetal Ltd and ArcelorMittal India Ltd
Resolving individual insolvency cases a distant dream | Business Standard Column–30.04.2018
The erstwhile regulatory system for liquidation or resolution or reconstruction of sick companies operated under fragmented laws. The Insolvency and Bankruptcy Code can be regarded as a
Uncertainty over how RERA provisions will play out for realty firms in NCLT | Business Standard Column–30.04.2018
The Insolvency Law Committee in its review of the operations of the Insolvency and Bankruptcy Code (IBC) has sought to give a voice to stressed-out homeowners where
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