The lenders of Binani Cement have issued letter of intent to UltraTech after approving its bid to acquire the company under the bankruptcy code, Aditya Birla group
Category: Legal
Electrosteel: NCLAT allows Vedanta to make Rs 5,320-cr payment upfront – The Financial Express–31.05.2018
The National Company Law Appellate Tribunal (NCLAT) on Wednesday permitted Vedanta, promoted by Anil Agarwal, to make an upfront payment of Rs 5,320 crore to
NCLAT asks Tata Steel if it would pay Bhushan Steel’s GST, income tax dues | Business Standard News–31.05.2018
The company law appellate tribunal on Wednesday asked Tata Steel if it will clear the statutory dues like income tax and GST of Bhushan Steel, a company it
Cheque case, right to appeal, corruption PILs: Here are key court orders | Business Standard Column–31.05.2018
SC steps in to speed up cheque cases The Supreme Court has called for reports from all high courts in the country regarding the implementation
1 year of RBI’s ‘Dirty Dozen’: How Modi’s IBC crusade on massive NPA began and created history! – The Financial Express–30.05.2018
Modi’s IBC crusade: Last June, the Reserve Bank of India (RBI) released a list of 12 companies constituting 25% of India’s total NPAs (Non-Performing Assets)under thename ‘Dirty
RCom breathes easy as tower arm clears hurdle – Business Line–30.05.2018
Reliance Communications’ efforts to sell its assets — part of its plan to pare debt — received a boost with subsidiary Reliance Infratel (RITL) reaching
Resolution across borders – Business Line–30.05.2018
The bankruptcy proceedings of Nirav Modi’s entities in the US highlight the urgent need for a robust cross border insolvency law Even as banks taste
Settle dispute mutually by 3 pm today: NCLAT to RCom, Ericsson | The Indian Express–30.05.2018
This suggestion was proffered by the NCLAT bench when in the course of the hearing RCom offered to make an upfront payment of Rs 500
Insolvency and Bankruptcy Code: Stakeholders of Tecpro, Educomp accuse promoters of flouting IBC rules – The Economic Times–29.05.2018
In two separate cases, stakeholders have complained of promoters abusing the Insolvency and Bankruptcy Code (IBC) to regain control of their lost assets even as government is
Evaluating the IBC – The Financial Express–29.05.2018
While the conclusion of the sale of Bhushan Steel to Tata Steel via the Insolvency and Bankruptcy Code (IBC) process is confirmation that the insolvency process is
Insolvency: Binani Cement lenders vote for UltraTech’s Rs 79.60 bn offer | Business Standard News–29.05.2018
The Committee of Creditors (CoC) of Binani Cement on Monday voted in favour of UltraTech’s Rs 79.60 billion offer. All 100 per cent votes were cast in
Electrosteel sale status quo hurting banks, lift stay: Vedanta to NCLAT | Business Standard News–29.05.2018
Vedanta Ltd on Monday asked the National Company Law Appellate Tribunal (NCLAT) to vacate its order for maintaining status quo over the sale of debt-ridden Electrosteel
Centre notifies rules for execution of court order against economic offenders – Business Line–29.05.2018
The Centre has notified procedures for execution of court order to bring back economic fugitives. This will help in serving and executing warrants against fugitive
Insolvency and Bankruptcy Code: How inordinate delays can ruin the purpose of bankruptcy code – The Economic Times–28.05.2018
By Amitabh Kant In the Essar Steel matter before it, the National Company Law Appellate Tribunal (NCLAT) has stalled the resolution process, directing all concerned entities to abstain
Binani Insolvency: Dalmia moves SC again on UltraTech’s eligibility to bid | Business Standard News–28.05.2018
Just ahead of the scheduled meeting of the Committee of Creditors (CoC) of Binani Cement, which is undergoing bankruptcy proceedings, the Dalmia Bharat Cement-led consortium has moved Supreme Court for the
Binani Cement: Dalmia Bharat again moves apex court on NCLAT order – The Financial Express–27.05.2018
While the committee of creditors (CoC) of Binani Cement is expected to consider a revised offer from UltraTech Cement along with the company’s resolution plan
IBC–Law and learning | The Indian Express–27.05.2018
Of the two structural reforms associated with this government — the Goods and Services Tax and the Insolvency and Bankruptcy law — it is the
IBC–‘CoC is not proactive enough’ – The Hindu–27.05.2018-R
The Committee of Creditors (CoC) is not being proactive enough in dealing with the cases, Insolvency and Bankruptcy Board of India (IBBI) chairman M.S. Sahoo said on
Insolvency and Bankruptcy Code: IBC not being used to full extent; CoCs need to do more: M S Sahoo – The Economic Times–26.05.2018-R
Objective of the bankruptcy law is to resolve an insolvency and revive an asset for collective good and not to maximise value for a chosen
Tata Steel’s takeover of Bhushan Steel: IBC’s ‘operational’ test case | Business Standard News–26.05.2018
A series of tweets from Piyush Goyal, the officiating minister in the ministry of finance, on Friday set the tone of government narrative on the
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