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1-10 results from 221 for query «insolvency»

17 April, 2018 4:07 PM NCLT approves Vedanta's resolution plan for Electrosteel

Kolkata: The National Company Law Tribunal`s (NCLT) Kolkata bench on Monday approved Vedanta Ltd`s resolution plan for the insolvent Electrosteel Steels Ltd. During the insolvency proceedings, the debt-laden company`s resolution professional had submitted Vedanta`s resolution plan before the bench for final disposal after lenders declared it as "successful 71

17 April, 2018 4:36 AM Binani Industries seeks shareholders’ nod for sale of cement arm to UltraTech

There are six bids with the highest being ₹6,590 crore. Binani Industries Ltd. has sought the approval of shareholders for sale of 98.43% equity shares and 100% of preference shares of its arm, Binani Cement, to UltraTech Cement Ltd. Bank of Baroda had initiated insolvency proceedings against Binani Cement. According to resolution professional, the total 40

16 April, 2018 4:38 PM SC directs realty firm to deposit ₹100 cr. by May 10

JAL had earlier paid first tranche towards refunds to buyers The Supreme Court on Monday directed realty firm Jaiprakash Associates Limited (JAL) to deposit ₹100 crore with its Registry by May 10. The Bench headed by Chief Justice Dipak Misra also directed the Insolvency Resolution Professional to consider the representation of JAL on revival plans as per law. Meanwhile 28

15 April, 2018 4:09 PM Lakshadeep offers Jaypee Infratech ₹7,350 crore

Emerges as the front-runner to acquire the firm Dark horse Lakshadeep Pvt. Ltd. has emerged as the front-runner to acquire Jaypee Infratech with a bid of almost ₹7,350 crore, but way lower than what the real estate developer had proposed to lenders a year back to pay off debt. Lakshadeep Pvt. Ltd., a joint venture between Sudhir Valia-led Suraksha Asset 23

13 April, 2018 9:24 AM SC refuses out-of-court settlement for Binani Cement

Binani Industries will now argue the settlement plea in the National Company Law Tribunal. In a major setback to the Kumar Mangalam Birla-led UltraTech Cement, the Supreme Court on Friday refused to allow an out-of-court settlement for bankrupt Binani Cement. Binani Industries, the parent of Binani Cement had reached an out of court deal with the Aditya 54

10 April, 2018 1:50 PM Chennai law firm to launch knowledge portal on IBC cases

The idea is to make legal research simple, relevant, easy and fast. CHENNAI: City-based law firm A.K. Mylsamy and Associates LLP (akm) has embarked on a knowledge-sharing exercise in an entirely new domain that has become an intense topic of discussion and attracted quite an attention across the canvass. The firm has conceptualised and designed an all-encompassing 29

9 April, 2018 6:09 PM Client insolvency to hit Q4 profitability: Wipro

Wipro on Monday said one of its telecom client in India has filed for bankruptcy and it would impact its profit for March quarter and year ended March 31, 2018. "On February 28, 2018, the Client filed a petition to initiate its Corporate Insolvency Resolution Process (CIRP) with the National Company Law Tribunal (NCLT)," Wipro said in a stock exchange 75

4 April, 2018 8:46 PM India Is World's Second Largest Producer Of Crude Steel, Overtakes Japan

Mumbai: In a major achievement, India has overtaken Japan to become the world's second largest producer of crude steel in February, according to the Steel Users Federation of India (Sufi). At present, China is the largest producer of crude steel in the world, accounting for more than 50 per cent of the production. India's crude steel production was up 4.4 per cent and stood 50

26 March, 2018 2:07 AM Essar Steel auction: NCLT's Ahmedabad bench to hear Numetal plea on bid eligibility on Tuesday

The Ahmedabad bench of National Company Law Tribunal will on March 27th take up Numetal's plea to declare its bid for Essar Steel, eligible. If successful, the development will be another turn in the contentious auction. The Ahmedabad bench of National Company Law Tribunal will on March 27 take up Numetal's plea to declare its bid for Essar Steel, eligible 84

22 March, 2018 4:01 PM ‘Fraud has nothing to do with Binani sale’

The counsel for the Committee of Creditors (CoC) to Binani Cement Ltd. submitted to the National Company Law Tribunal (NCLT) on Thursday that allegations of wrongdoings at the cement maker had nothing to do with the company’s proposed sale and argued that the sale ought to be allowed to proceed if the offer was good enough. Separately, Binani Industries 33