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
Category: IBC-SEBI
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
ED arrests Cox and Kings promoter Peter Kerkar in money laundering case | Business News,The Indian Express
Clipped from: https://indianexpress.com/article/business/companies/ed-arrests-cox-and-kings-promoter-peter-kerkar-in-money-laundering-case-7069624/ Cox and Kings owes Rs 5,500 crore to banks and financial institutions and it is one of the top borrowers of Yes Bank
Bankers to make last-ditch attempt to get more cash from Lavasa’s bidders – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/bankers-to-make-last-ditch-attempt-to-get-more-cash-from-lavasas-bidders/articleshow/79491232.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Three bids were received for the stuck project until the deadline of November 20 including one from a Pune-based realty developer Anirudh Deshpande
Reliance Capital defaults on interest payments on HDFC and Axis term loans – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/reliance-capital-defaults-on-interest-payments-on-hdfc-and-axis-term-loans/articleshow/79495845.cmsSynopsis The company informed the exchanges that it failed to pay interest of Rs 4.77 crore to HDFC and Rs 0.71 crore to Axis
Can improve DHFL offer, forfeit deposit of those against recoveries: Adani | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/can-improve-dhfl-offer-forfeit-deposit-of-those-against-recoveries-adani-120112900205_1.html Piramal quoted Rs 23,500 crore only for the retail portfolio of DHFL while Hong Kong-based SC Lowy bid Rs 2,350 crore for SRA
Wadhawan moves NCLT against CoC, Administrator – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/wadhawan-moves-nclt-against-coc-administrator/article33187385.ece Says DHFL’s cash in hand, investment and real estate assets is more than ₹16,000 crore In the alternative to the above, Wadhawan (Applicant), who
DHFL suitors get time till Dec 10 to submit bids – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/dhfl-suitors-may-get-time-till-december-10-to-submit-bids/article33192879.ece Banks keen on higher value, experts say CoC can take decision within IBC norms The lenders to troubled Dewan Housing Finance Corporation Ltd
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