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Banks give up on Jet Airways revival, take it to NCLT
Tue, Jun 18, 2019
It is finally curtains on attempts by lenders to revive the grounded Jet Airways by finding a buyer for it. On Monday, the State Bank of India-led consortium of lenders decided to send the carrier to the National Company Law Tribunal (NCLT) after failing to receive any concrete proposal from prospective buyers more than two months after the process started.
Jet Airways lenders decide to take airline to NCLT
Mon, Jun 17, 2019
Lenders of the embattled Jet Airways airline have decided to take it to National Company Law Tribunal (NCLT).
BoB puts Bhushan Power & Steel, Alok Ind, 65 other accounts worth over Rs 9k cr on block
Mon, Jun 10, 2019
Bank of Baroda has put on sale non-performing loans amounting to Rs 9,060 crore, including two large accounts - Bhushan Power & Steel and Alok Industries.
Tata Chemicals' consumer business to merge with TGBL
Wed, May 15, 2019
Pursuant to the scheme, each shareholder of TCL will get 1.14 new equity shares of TGBL for every 1 equity share held in TCL, signifying that a shareholder holding 100 shares in TCL will receive 114 shares in TGBL.
Jaypee Infratech insolvency: NCLT to hear on May 21 IDBI's plea on deadline extension
Mon, May 06, 2019
Jaypee Infratech insolvency: On January 28 this year, the NCLT had extended the period of the CIRP by another 90 days as 180 days mandated under the Insolvency and Bankruptcy Code (IBC) was ending on February 5, 2019.
RBI asks lender banks to disclose IL&FS exposure in March quarter accounts
Wed, Apr 24, 2019
RBI on Wednesday directed lenders to disclose their exposure to the bankrupt infra lender in their forthcoming earnings announcements.
IBC cases admitted over RBI circular to continue: MS Sahoo
Tue, Apr 16, 2019
Although the Supreme Court has quashed the RBI`s February 12, 2018, order on non-performing assets (NPA), the cases admitted for resolution process based on the order would continue, said the Insolvency and Bankruptcy Board of India (IBBI) on Monday.
Penalty case: Maruti Suzuki, Mahindra to Mercedes, here is what Delhi court has ordered carmakers to do
Wed, Apr 10, 2019
On August 25, 2014, the CCI had slapped a total penalty of Rs 2,545 crore on 14 car manufacturers, including Honda, Volkswagen and FIAT, in India after finding them guilty of violating trade norms in the spare parts and after-services market.
NCLAT seeks details about 4 IL&FS group entities - 'Submit information over investment made by pension, provident funds'
Mon, Apr 08, 2019
The NCLAT had directed 4 out of 13 amber entities to prepare charts, and held that the remaining 9 firms will also try to prepare charts by the next date of hearing, which is April 16.
12,000 cases filed since implementation of insolvency law, setting up of NCLT: Corporate Affairs Secy
Mon, Mar 25, 2019
Cases under the code can be taken up only after approval from the tribunal, which has benches in different parts of the country. Srinivas said that personal insolvency should be approached carefully and in a planned manner.
RBI seeks modification of NCLAT order in ILFS case
Tue, Mar 19, 2019
Further, the tribunal has sought company-wise updates from the Committee of Creditors (CoC) and Resolution Professional (RP).
Centrum to launch Rs 500-cr structured credit fund
Sun, Mar 17, 2019
See, there are around 3,400 companies at NCLTs. Of this only around 400 are resolved or nearing resolution. So what is the hurry? Let the hype settle down and let the assets become more affordable because our present size doesnt allow us to take huge vulnerabilities.
BSNL to approach NCLT this week against RCom to recover Rs 700 cr
Sun, Mar 17, 2019
"BSNL has aready invoked bank guarantee of around Rs 100 crore submitted by RCom for default on payments. Decision was taken on January 4 by BSNL Chairman and Managing Director Anupam Shrivastava to start legal proceedings against RCom for recovery of dues of around Rs 700 crore," the sources told PTI.
NCLT clears ArcelorMittal's Rs 42,000-crore bid for Essar Steel
Fri, Mar 08, 2019
The National Company Law Appellate Tribunal (NCLAT) had last month directed the NCLT Ahmedabad bench to take a final decision on ArcelorMittal`s bid for the acquisition of Essar Steel by March 8, failing which it would pass an order.
NCLT approves ArcelorMittal’s takeover bid for Essar Steel
Fri, Mar 08, 2019
The National Company Law Tribunal (NCLT) approved steel giant ArcelorMittal SA's takeover bid for debt-ridden Essar Steel. Watch full video to know more.
NTPC eyes stressed assets under insolvency in NCLT to make deals sweeter
Sun, Mar 03, 2019
"NTPC has decided to go slow on expansion of its capacity addition through acquisition of stressed power assets. The company is now looking at only those projects which would go under hammer as part of the insolvency process," a source privy to the development said.
Government contemplates third bench of NCLT Kolkata
Sun, Mar 03, 2019
The Centre is planning to open a third bench of the National Company Law Tribunal (NCLT) in Kolkata, an official said Saturday.
Reports of taking Jet Airways to NCLT still speculative: SBI
Mon, Feb 25, 2019
Jet Airways' largest lender, State Bank of India (SBI), said media reports that it was weighing taking the debt-laden carrier to an insolvency tribunal to recoup loans were "speculative", and that no such decision had been taken.
Kesoram expects to complete tyre business demerger by July
Thu, Feb 21, 2019
"It will hopefully complete by end of July. Stock exchanges have given in-principle clearance and now it has been before the Securities and Exchange Board of India (SEBI) for clearance. SEBI's in principle clearance of the demerger should be expected by end of February.
Dena Bank will be out of the PCA list by March 2019: Karnam Shekhar
Fri, Feb 15, 2019
Karnam Sekar, MD and CEO, Dena Bank during an interview with Swati Khandelwal, Zee Business, said, methods like resolution at NCLT, the sale of assets through ARC and settlement of certain accounts at the bilateral level has helped in bringing down the NPA levels of the bank”.