Clipped from: https://www.financialexpress.com/industry/banking-finance/oaktree-provides-unconditional-implementable-plan-for-dhfl-resolution/2166510/ US-based Oaktree Capital has said its revised bid for the debt-ridden DHFL is unconditional and comes with a commitment of fresh capital infusion
Category: IBC-SEBI
DHFL lenders likely to factor in a lot more than a highest bid – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/dhfl-lenders-likely-to-factor-in-a-lot-more-than-a-highest-bid/articleshow/80144697.cmsSynopsis With voting underway on three plans submitted by the Piramal Group, Adani Group and buyout fund Oaktree Capital in the hotly contested bankruptcy
Prepack insolvency resolution: Swiss Challenge options, IBC tweaks on cards | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/prepack-insolvency-resolution-swiss-challenge-options-ibc-tweaks-on-cards-121010600063_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 The prepack is to start with a base resolution plan (BRP), which will face a Swiss Challenge; and this should come from the
I&B: Has suspension of IBC proceedings achieved its desired goal? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/legal/has-suspension-of-ibc-proceedings-achieved-its-desired-goal/articleshow/80109902.cmsSynopsis When the suspension was proposed in June 2020, no one expected that the pandemic would last for such a long period, and therefore
Insolvency Professionals asked to maintain certain records in electronic form for 8 years – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/insolvency-professionals-asked-to-maintain-certain-records-in-electronic-form-for-8-years/article33503050.ece?homepage=true IBBI circular lays down roles and responsibilities of IPs for safekeeping of records Insolvency regulator IBBI has now directed insolvency professionals to preserve
India is no place for insider trading–the econcomic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/india-is-no-place-for-insider-trading/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. Big-ticket foreign portfolio investors (FPI) are reportedly miffed
I&B: Has suspension of IBC proceedings achieved its desired goal? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/legal/has-suspension-of-ibc-proceedings-achieved-its-desired-goal/articleshow/80109902.cmsSynopsis When the suspension was proposed in June 2020, no one expected that the pandemic would last for such a long period, and therefore
Ground seems ready for new options to resolve stressed assets: IBBI chief – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/ground-seems-ready-for-new-options-to-resolve-stressed-assets-ibbi-chief/article33485839.ece The ground seems to be ready to experiment new options for resolution of stress and the market is anticipating a hybrid framework between
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 Vedanta’s takeover of 13 companies offers electronics major Videocon a lifeline, but it may not be enough for the beleaguered group “Whatever role
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
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