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1-10 results from 238 for query «insolvency»

12 July, 2018 9:33 AM Chambal Fertilisers down 1% as downstream subsidiary voluntary wind-up its biz

Shares of Chambal Fertilisers and Chemicals fell 1.5 percent intraday Thursday as its downstream subsidiary approved voluntary winding up of the company. Inuva Info Management is a subsidiary of ISG Novasoft Technologies which is downstream subsidiary of Chambal Fertilisers, accordingly, Inuva is a downstream subsidiary of the company. Board of directors 37

10 July, 2018 5:07 PM ArcelorMittal to NCLAT; The company was eligible to bid for Essar Steel

ArcelorMittal today said it was eligible under the Insolvency & Bankruptcy Code to bid for Essar Steel as it was not a promotor of Uttam Galva and KKS Petron, and had already offloaded its shares before submission of the bids. Arguing before the National Company Law Appellate Tribunal (NCLAT) on behalf of ArcelorMittal, senior advocate Harish Salve submitted 43

18 June, 2018 6:34 AM Adani Wilmar could emerge as winning bidder for Ruchi Soya: Report

Patanjali had been given time to counter Adani Wilmar's bid for Ruchi Soya, but it reportedly hasn't raised its offer Adani Wilmar could emerge as the winning bidder for edible oils manufacturer Ruchi Soya, as Patanjali Ayurved has not improved on its offer, The Economic Times reports. "Patanjali did not give any reasons to lenders for not improving 53

9 June, 2018 2:58 PM SBI eyes ₹30,000 cr. recovery via resolution

Total exposure at ₹78,000 cr.: official State Bank of India (SBI), the country’s largest lender, expects to recover about ₹30,000 crore from the resolution process under the Insolvency and Bankruptcy Code (IBC) during the current fiscal, an official said. From the two stressed assets’ list referred for resolution under IBC by the Reserve Bank of India 67

9 June, 2018 2:51 PM IBC firms to face more surveillance

SEBI and stock exchanges will put in place additional surveillance measures for companies that are undergoing insolvency resolution process (IRP) from Monday, according to BSE. To enhance market integrity and safeguard investors’ interest, the Securities and Exchange Board of India (SEBI) and the exchanges have been introducing enhanced pre-emptive surveillance 41

4 June, 2018 4:51 PM Vedanta puts ₹5,320 crore into Electrosteel’s escrow

Billionaire Anil Agarwal-led Vedanta Limited has forayed into steel making by paying ₹5,320 crore to buy out bankrupt Electrosteel Steels under the Insolvency and Bankruptcy Code (IBC), making it the second successful resolution under the Insolvency and Bankruptcy Code. Last month, Tata Steel had bought bankrupt Bhushan Steel for ₹36,400 crore, making 36

29 May, 2018 4:24 PM RCom offers Rs.500 crore to Ericsson, NCLAT for amicable settlement

Swedish telecom gear maker Ericsson is seeking Rs. 11.55 billion ($170.22 million) from RCom and two of its units. Reliance Communications (RCom) has offered ₹500 crore for an out-of-court settlement with Swiss telecom equipment maker Ericsson while its subsidiary Reliance Infratel has reached an amicable settlement with its minority investors led by HSBC Daisy 47

28 May, 2018 4:13 PM Ruchi Soya's lenders to meet on May 30 to discuss bids

Lenders of bankruptcy-hit Ruchi Soya are likely to meet again on May 30 to discuss bids submitted by Patanjali Ayurveda and Adani group which are in the race to acquire the Indore-based edible oil firm. A Committee of Creditors (CoC) today met to discuss the bids of these two companies. Patanjali had revised its bids upwards to about Rs 4,300 crore 42

23 May, 2018 6:16 AM Tata Steel acquisition of Bhushan Steel helps YES Bank recover ₹184 cr. debt

It filed a claim for ₹325 crore in this case. YES Bank said it had recovered 184 crore in debt following the sale of Bhushan Steel Limited to Tata Steel Limited under the recently-concluded NCLT (National Company Law Tribunal)/ Insolvency and Bankruptcy Code (IBC) proceedings. Earlier, it recovered 32 crore through sale of pledged shares. Thus, it recovered 39

22 May, 2018 4:35 PM NCLAT orders status quo on Essar Steel

The National Company Law Appellate Tribunal (NCLAT) on Tuesday ordered a status quo on the insolvency process for Essar Steel for two months as it admitted petitions of Numetal and ArcelorMittal over bidding eligibility. The tribunal directed the resolution professional (RP), committee of creditors (CoC) and the NCLT not to pass any order in the ongoing 48