Clipped from: https://www.thehindubusinessline.com/companies/at-insolvencys-doors-dhoots-forced-to-exit/article33485670.ece Vedanta’s takeover of 13 companies offers electronics major Videocon a lifeline, but it may not be enough for the beleaguered group “Whatever role
Category: IBC-SEBI
Below the line: Quite amusing – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/columns/below-the-line/article33487201.ece Quite amusing Wadhawan has been on a letter-writing spree and had even made his settlement proposal to the DHFL administrator for getting back
DHFL resolution: Kapil Wadhawan reiterates offer of 100% principal repayment – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/kapil-wadhawan-reiterates-offer-of-100-principal-repayment/article33494212.ece With the clock ticking on the resolution of debt-ridden Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan, former promoter, reiterated his offer of
Supreme Court: Billions of dollars at stake for India banks in 2021 court cases – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/billions-of-dollars-at-stake-for-india-banks-in-2021-court-cases/articleshow/80090018.cmsSynopsis The legal tussles pit India’s lenders, central bank and government against corporate borrowers struggling to survive amid lockdowns prompted by Covid-19. Indian courts
Not a penny to equity holders as DHFL bidders value firm’s shares at zero | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/not-a-penny-to-equity-holders-as-dhfl-bidders-value-firm-s-shares-at-zero-121010400844_1.html Investors baffled as DHFL had a market valuation of Rs 941 cr on Monday, with its stock trading at Rs 30 a share
Money trap: At insolvency’s doors, Dhoots forced to exit – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/at-insolvencys-doors-dhoots-forced-to-exit/article33485670.ece?homepage=true Vedanta’s takeover of 13 companies offers electronics major Videocon a lifeline, but it may not be enough for the beleaguered group “Whatever role
DHFL bids: Oaktree mulls legal action ‘seeing’ creditors’ ‘bias’ towards Piramal’s offer – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/dhfl-bids-oaktree-mulls-legal-action-seeing-creditors-bias-towards-piramals-offer/article33488461.ece Oaktree Capital is weighing legal action against the lenders of Dewan Housing Finance Corporation Ltd (DHFL) over the resolution process amid initial indications
Honest promoters to have greater leeway: Under scheme in works, such promoters to get chance to make first bid – The Financial Express
Clipped from: https://www.financialexpress.com/economy/honest-promoters-to-have-greater-leeway-under-scheme-in-works-such-promoters-to-get-chance-to-make-first-bid/2162058/ Under the scheme, meant only for NPAs less than a year old, the eligible promoters will get to submit resolution plans first. While
Sebi tweaks public shareholding norms for companies under insolvency process – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/sebi-clears-new-shareholding-norms-for-corporate-insolvency-resolution-process-cos/articleshow/79760689.cmsSynopsis The move would ensure revival of the corporate debtor pursuant to the resolution plan and provide any listing gains over the next three
Sebi likely to relax norms for investing in insolvent firms – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/sebi-likely-to-relax-norms-for-investing-in-insolvent-firms/articleshow/79731531.cms Synopsis–Typically, preferential shares are issued to incoming investor under the insolvency resolution plan. Such shares are currently required to be under lock-in. Mumbai:
ArcelorMittal, JSW Steel among six firms keen on buying Uttam Galva Steel | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/arcelormittal-jsw-steel-among-six-firms-keen-on-buying-uttam-galva-steel-121010300414_1.html Uttam Galva’s total admitted claims are Rs 9,070.66 crore, with ArcelorMittal having an 87 per cent voting share among financial creditors ArcelorMittal became
Ground seems ready for new options to resolve stressed assets: IBBI chief – The Financial Express
Clipped from: https://www.financialexpress.com/industry/ground-seems-ready-for-new-options-to-resolve-stressed-assets-ibbi-chief/2163151/ In place for more than four years, the Insolvency and Bankruptcy Code (IBC) is helping in resolution of stressed assets in a market-linked
Don’t let the Insolvency and Bankruptcy Code go the CDR way – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/dont-let-the-insolvency-and-bankruptcy-code-go-the-cdr-way/2162428/ IBC should never have been kept in abeyance for so long and, if not handled well, the pre-pack can deal it a big
GoAir auditors raise going concern doubts as net worth erodes in FY20 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/logistics/goair-auditors-raise-going-concern-doubts-as-net-worth-erodes-in-fy20/article33465567.ece?homepage=true GoAir’s poor financial health and the ongoing Covid-19 pandemic have led the low-cost carrier’s independent auditors to cast doubts on whether it can
63 moons moves NCLT seeking recovery for DHFL creditors – The Financial Express
Clipped from: https://www.financialexpress.com/industry/banking-finance/63-moons-moves-nclt-seeking-recovery-for-dhfl-creditors/2161949/ “The benefit of avoidance applications for approximately Rs 30,000 crore filed by DHFL administrator under section 66 of Insolvency and Bankruptcy Code (IBC)
CBI files case against IVRCL for Rs 5,000 crore loan fraud–Business today
Clipped from: https://www.businesstoday.in/current/economy-politics/cbi-files-case-against-ivrcl-for-rs-5000-crore-loan-fraud/story/426516.html The company allegedly availed various credit limits from a consortium of banks, led by State Bank of India and cheated the banks, without
Non-performing assets recovered via IBC rise 61% in 2019-20 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/non-performing-assets-recovered-via-ibc-rise-61-in-2019-20/article33447464.ece IBC, under which recovery is incidental to rescue of companies, remained the dominant mode of recovery, according to RBI’s “Report on Trend and
IBC emerges as major mode of NPA recovery in 2019-20 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/ibc-emerges-as-major-mode-of-npa-recovery-in-2019-20/article33447977.ece Of the total amount of ₹ 1,72,565 crore recovered, IBC route accounted for ₹ 1,05,773 crore Non-performing assets (NPAs) recovered by scheduled commercial banks through the Insolvency
Why the bid war for DHFL may well end up being a curse for the winner | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/why-the-bid-war-for-dhfl-may-well-end-up-being-a-curse-for-the-winner-120122800905_1.html Establishing a greenfield HFC may be cheaper for the bidders than picking up one embroiled in fraud probes As the race for beleaguered
IBBI bares regulatory teeth against 2 IPs for misconduct – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/ibbi-bares-regulatory-teeth-against-2-ips-for-misconduct/article33233791.ece Both can’t take fresh assignments till exonerated of charges In separate cases, insolvency regulator IBBI’ s Disciplinary Committee has come down heavily on
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