Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/fret-not-overmuch-over-ibc-liquidation/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. Should we worry that the working of the
Category: IBC-SEBI
India likely to witness sharp rise in insolvencies in the coming days: MS Sahoo – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/indicators/india-to-witness-sharp-rise-in-insolvencies-in-the-coming-days-ms-sahoo/articleshow/79796227.cmsSynopsis “The 2008 financial crisis had witnessed a sharp increase in corporate and personal insolvencies all over the world and that is an indication
Piramal group plans to merge its financial services business with DHFL | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/piramal-group-plans-to-merge-its-financial-services-business-with-dhfl-120121601474_1.html The plan depends on DHFL’s committee of creditors (CoC) accepting the offer over its rival Oaktree’s. The Piramal group is planning to merge its financial
DHFL: Oaktree Capital, Piramal Enterprise trump Adani Properties with new DHFL bids – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/oaktree-piramal-trump-adani-with-new-dhfl-bids/articleshow/79730420.cmsSynopsis Multiple people involved in the discussions said that Oaktree’s ₹36,646-crore offer has the quickest repayment timelines and a higher overall recovery but the
Tough call for DHFL lenders as Oaktree just manages to outbid Piramal | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/tough-call-for-dhfl-lenders-as-oaktree-just-manages-to-outbid-piramal-120121401069_1.html Adani does not make aggressive bid in fourth round; all offers have several conditions and banks will have to take a call by
Kapil Wadhawan submits proposal to repay DHFL creditors – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/kapil-wadhawan-submits-proposal-to-repay-dhfl-creditors/articleshow/79723430.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The proposal envisages complete repayment to all creditors within a period of 7-8 years, with upfront cash payment of Rs 9000 crores. This
Eight shell firms, a Pali Hill house on rent: whistle-blower claims UPL promoters siphoned off money – The Economic Times
Clipped from: https://economictimes.indiatimes.com/prime/corporate-governance/eight-shell-firms-a-pali-hill-house-on-rent-whistle-blower-claims-upl-promoters-siphoned-off-money/primearticleshow/79650123.cms SynopsisThe whistle-blower claims that UPL entered into rent deals with a shell company and paid crores. The whistle-blower also alleges that shell firms
NCLAT stays order directing ArcelorMittal to pay Rs 1,300 crore to Odisha Slurry Pipeline Infrastructure – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/nclat-stays-order-directing-arcelormittal-to-pay-rs-1300-crore-to-odisha-slurry-pipeline-infrastructure/articleshow/79594891.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis “As an ad-interim the operation of the impugned order as regards making of payment by the Appellant (ArcelorMittal India) to ‘OSPIL’ by 15th
NCLT Mumbai approves RIL arm’s resolution plan for Reliance Infratel | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/nclt-mumbai-approves-ril-arm-s-resolution-plan-for-reliance-infratel-120120401508_1.html Reliance Communications” telecom infrastructure arm Reliance Infratel has around 43,000 towers and 1,72,000 route kilometres of fiber The National Company Law Tribunal (NCLT)
Insolvency case: NCLT allows plea for private sale of ABG Shipyard assets
Clipped from: https://economictimes.indiatimes.com/industry/transportation/shipping-/-transport/insolvency-case-nclt-allows-plea-for-private-sale-of-abg-shipyard-assets/articleshow/79566260.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The ruling by the dedicated bankruptcy court is expected to set a precedent in cases where the company is already admitted for liquidation
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
NCLT to hear Jet Airways resolution plan on Dec 11 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/logistics/nclt-to-hear-jet-airs-resolution-plan-on-dec-11/article33233933.ece 99.22% votes favour Kalrock-Jalan plan, RP informs court Earlier, it was said that the resolution plan would be heard on December 3; however,
After e-commerce and pharma, CCI zeroes in on private equity for market study – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/after-e-commerce-and-pharma-cci-zeroes-in-on-private-equity-for-market-study/article33248554.ece It is estimated that about $40 billion of PE money would get deployed in India this year Competition Commission of India (CCI) will
NCLT okays resolution plan for Reliance Infratel; may entail sale of assets | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/nclt-okays-resolution-plan-for-reliance-infratel-may-entail-sale-of-assets-120120400003_1.html Decks cleared for sale of tower, fibre assets to Reliance Digital The National Company Law Tribunal (NCLT) in Mumbai has approved a resolution
JSW Steel sweetens offer for BPSL by Rs 400 crore – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/jsw-steel-sweetens-offer-for-bpsl-by-rs-400-crore/articleshow/79552225.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis It’s a complete U-turn from their stance a few months ago when they were asking for more time to close the deal, the
reliance capital: Reliance Capital’s creditors get at least six bids for stake sale – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/reliance-capitals-creditors-get-at-least-six-bids-for-stake-sale/articleshow/79521568.cms SynopsisOn the block are majority stakes in insurance, asset reconstruction and securities brokerage firms and a part stake in a commodity exchange. The
An urgent need for a cross-border insolvency framework – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/view-an-urgent-need-for-a-cross-border-insolvency-framework/articleshow/79529444.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Guarantees issued are usually for the loans raised by subsidiaries where the company availing the loan does not meet the requisite financial parameters.
Anil Ambani: Govt in no mood to relent on personal guarantee, wiggle room for Anil Ambani is shrinking fast – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/company/corporate-trends/govt-in-no-mood-to-relent-on-personal-guarantee-wiggle-room-for-anil-ambani-is-shrinking-fast/articleshow/79525396.cmsSynopsis This is only the latest in the beleaguered one-time tycoon’s well-documented series of brushes with personal guarantee invocation. He is already being sued
DHFL debt resolution: Global investors point to ‘grey areas’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/global-investors-raise-concerns-over-dhfl-debt-resolution-process/article33222916.ece?homepage=true Say the manner in which the case has been handled leaves a lot of grey areas in rules governing IBC cases International investors
Decoded: Unravelling the legal tangle around revised bids for DHFL | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/decoded-unravelling-the-legal-tangle-around-revised-bids-for-dhfl-120120101256_1.html The DHFL saga has put the spotlight on the legal ambiguity in accepting bids beyond stipulated deadlines The DHFL saga, the first non-banking financial company