Search result for 'corporate insolvency resolution process'

Jaiprakash Associates Insolvency: Lenders Doubt Settlement

June 24, 2024 22:20

New Delhi, Jun 24 (PTI) Lenders of Jaiprakash Associates Ltd (JAL) on Monday raised apprehensions about the one-time settlement (OTS) proposal by the debt-ridden group and said they were not...

Siti Networks Insolvency Resolution Extended

June 24, 2024 17:44

New Delhi, Jun 24 (PTI) Lenders of Siti Networks have decided to seek more time for completion of the insolvency resolution process of the debt-ridden firm. The Committee of Creditors (CoC) of...

IBBI Proposes Insolvency Rule Amendments: Public Comments Sought

June 20, 2024 22:29

New Delhi, Jun 20 (PTI) The IBBI has proposed amendments to the Insolvency Resolution Process for Corporate Process regulations, to enhance efficiency and reduce costs, and sought stakeholder...

NCLT orders insolvency proceeding against Supernova project developer Supertech Realtors

June 15, 2024 18:21

New Delhi, Jun 15 (PTI) The National Company Law Tribunal (NCLT) has ordered initiating an insolvency proceeding against Supertech Realtors, which is developing a residential apartment, office,...

Go First Insolvency Extended: NCLT Grants 60 Days

June 13, 2024 12:47

New Delhi, June 13 (PTI) The National Company Law Tribunal (NCLT) has granted an extension of 60 days to the grounded air carrier Go First for completing the insolvency process. This is the...

Jaypee Infratech Delists Shares, Appoints New CFO

June 13, 2024 10:42

New Delhi, Jun 13 (PTI) Jaypee Infratech Ltd, which is now being controlled by Mumbai-based Suraksha Group, has appointed Devang Pravin Patel as its Chief Financial Officer (CFO) and will also...

Suraksha Group Invests Rs 125 Cr in Jaypee Infratech

June 12, 2024 10:50

New Delhi, Jun 12 (PTI) The Suraksha Group has infused Rs 125 crore equity fund in Jaypee Infratech Ltd, which it has acquired through insolvency process, as part of its resolution plan to settle...

Jaiprakash Associates Insolvency: NCLAT Orders ICICI to Consider OTS

June 11, 2024 15:13

New Delhi, Jun 11 (PTI) Insolvency appellate tribunal NCLAT has issued a notice to ICICI Bank over the plea of Jaiprakash Associates Ltd and said the private sector lender may consider the one-time...

NCLT Initiates Insolvency Against Himalayan Mineral Water

June 9, 2024 13:37

New Delhi, Jun 9 (PTI) The National Company Law Tribunal (NCLT) has directed initiating insolvency proceedings against Himalayan Mineral Waters, allowing Jammu & Kashmir Bank's plea for default...

Suraksha Group Takes Over Jaypee Infratech: Relief for Homebuyers

June 5, 2024 13:21

New Delhi, June 5 (PTI) In a big relief to over 20,000 homebuyers, Suraksha Group has taken over the debt-ridden realty firm Jaypee Infratech by constituting a three-member board and will soon...

NCLT Initiates Insolvency Against Jaiprakash Associates

June 3, 2024 18:48

New Delhi, June 3 (PTI) The National Company Law Tribunal (NCLT) on Monday directed to initiate insolvency proceedings against debt-ridden Jaiprakash Associates Ltd, admitting the plea filed by...

NCLAT Upholds Adani Goodhomes Bid for Radius Estate

May 28, 2024 16:53

New Delhi, May 28 (PTI) Insolvency Appellate Tribunal NCLAT has upheld orders approving Adani Goodhomes' resolution plan for realty firm Radius Estate with a 93 per cent haircut for creditors. A...

NCLAT Upholds Jaypee Infra Acquisition, Suraksha to Pay More

May 24, 2024 15:39

New Delhi, May 24 (PTI) Insolvency Appellate Tribunal NCLAT on Friday upheld Suraksha Realty's bid to acquire debt-ridden Jaypee Infratech Ltd but asked it to pay an additional around Rs 1,300...

Real Estate Case Resolution under IBC: Study Highlights Reforms

May 20, 2024 19:22

New Delhi, May 20 (PTI) There is a need for legal and administrative reforms to ensure more efficiency in resolving real estate cases under the insolvency law, according to a study. In its...

Creditors' Haircuts Jump to 73% in FY24: IBC Report

May 17, 2024 17:08

Mumbai, May 17 (PTI) The haircuts taken by creditors in bankruptcy resolutions have increased to 73 per cent in FY24 from the 64 per cent in FY23, a report said on Friday. A total of 269...

IIIPI to Peer Review Insolvency Professional Entities

May 7, 2024 18:03

New Delhi, May 7 (PTI) The Indian Institute of Insolvency Professionals of ICAI (IIIPI) will bring support services provided by Insolvency Professional Entities (IPEs) under the peer review...

NCLT Orders Insolvency Against Subhash Chandra

April 22, 2024 21:07

New Delhi, Apr 22 (PTI) The National Company Law Tribunal (NCLT) on Monday ordered insolvency proceedings against media baron Subhash Chandra on a plea filed by Indiabulls Housing Finance. A...

NCLT Disposes Mumbai Metro One Bankruptcy Case

April 15, 2024 17:07

New Delhi, Apr 15 (PTI) In a relief to Reliance Infrastructure, National Company Law Tribunal (NCLT) has disposed of insolvency case filed by SBI and IDBI Bank against Mumbai Metro One Pvt Ltd...

Go First Insolvency: NCLT Extends Deadline by 60 Days

April 8, 2024 22:20

New Delhi, Apr 8 (PTI) Insolvency tribunal NCLT on Monday once again extended the deadline to complete the resolution process of grounded airline Go First by another 60 days. This is the third...

Dream11: NCLAT Stays Insolvency, Orders Company to Remain Operational

April 4, 2024 21:11

New Delhi, Apr 4 (PTI) The National Company Law Appellate Tribunal has directed the interim resolution professional of Sporta Technologies, which operates the fantasy sports platform Dream 11, not...

NCLT Initiates Insolvency Against MEP Infrastructure - Rs 127.86 Crore Default

April 3, 2024 19:03

New Delhi, Apr 3 (PTI) The National Company Law Tribunal has initiated the corporate insolvency resolution process (CIRP) against MEP Infrastructure Developers Ltd on a plea filed by Bank of India...

NCLAT Dismisses BHEL's Pleas in Hiranmaye Energy Insolvency

March 4, 2024 21:14

New Delhi, Mar 4 (PTI) Insolvency appellate tribunal NCLAT on Monday set aside a BHEL petition seeking to halt REC from initiating insolvency proceedings against Hiranmaye Energy, formerly India...

Insolvency Law: Debtors Resolve Cases Before Admission - IBBI

February 20, 2024 16:43

New Delhi, Feb 20 (PTI) Over 27,500 applications for resolution process against corporate debtors have been withdrawn before their admission, with regulator IBBI emphasising that the credible...

Gitanjali Gems Liquidated: NCLT Orders Winding Up

February 19, 2024 21:00

Mumbai, Feb 19 (PTI) The National Company Law Tribunal (NCLT) has ordered liquidation of jewellery retailer Gitanjali Gems, promoted by absconding diamantaire Mehul Choksi, under Section 33 of the...

IBBI Streamlines Insolvency Process: New Norms for Transparency &amp; Efficiency

February 16, 2024 20:28

New Delhi, Feb 16 (PTI) Regulator IBBI has amended corporate insolvency resolution process norms, including making it compulsory to have separate accounts for each real estate project undergoing...

NCLAT Stays Dream11 CIRP Order, Next Hearing Feb 23

February 14, 2024 19:22

New Delhi, Feb 14 (PTI) The National Company Law Appellate Tribunal on Wednesday stayed the NCLT Mumbai bench order to initiate a corporate Insolvency Resolution Process (CIRP) against Sporta...

Adani Power & DAIT Get CCI Nod for Coastal Energen Acquisition

February 13, 2024 22:05

New Delhi, Feb 13 (PTI) The Competition Commission of India (CCI) on Tuesday said it has approved a proposal to acquire a 100 per cent stake in Coastal Energen Pvt Ltd by Adani Power Ltd and Dickey...

Adani Power & DAIT Acquire Coastal Energen: CCI Approval

February 13, 2024 21:10

IBBI Amends Liquidation Norms for Smoother Process

February 13, 2024 20:49

New Delhi, Feb 13 (PTI) The Insolvency and Bankruptcy Board of India (IBBI) has amended norms pertaining to the liquidation process as part of efforts to make the process more smooth and ensure...

Go First Insolvency Deadline Extended by NCLT

February 13, 2024 14:30

New Delhi, Feb 13 (PTI) The National Company Law Tribunal on Tuesday extended the deadline for another 60 days to complete the resolution process of grounded airline Go First. A two-member...

SC Allows Arbitration in IOC-ArcelorMittal Essar Steel Dispute

February 12, 2024 20:10

New Delhi, Feb 12 (PTI) The Supreme Court on Monday permitted Indian Oil Corporation (IOC) and ArcelorMittal Nippon Steel India Limited (AMNSIL) to initiate arbitral proceedings to resolve their...

IBBI Amends Insolvency Norms for Personal Guarantors

February 6, 2024 18:27

New Delhi, Feb 6 (PTI) The Insolvency and Bankruptcy Board of India (IBBI) has amended norms pertaining to insolvency resolution process for personal guarantors and voluntary liquidation process....

Insolvency Professional Entities Get Peer Review Access

January 25, 2024 21:49

New Delhi, Jan 25 (PTI) Insolvency professional entities that are enrolled as members of the Indian Institute of Insolvency Professionals of ICAI (IIIPI) will now have access to the peer review...

ICAI Extends Peer Review to Insolvency Entities

January 25, 2024 21:43

New Delhi, Jan 25 (PTI) Insolvency professional entities that are enrolled as members of the Indian Institute of Insolvency Professionals of ICAI will now have access to the peer review mechanism....

NCLAT: Former Promoters Can Bid in IBC Cases

January 11, 2024 20:38

New Delhi, Jan 11 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Thursday said former promoters and directors of a company going through insolvency process are not barred from...

NCLAT Overturns NCLT Order on Srei Equipment Claim

January 10, 2024 22:45

New Delhi, Jan 10 (PTI) The National Company Law Appellate Tribunal (NCLAT) has set aside an NCLT order, which rejected Srei Equipment Finance Ltd's Rs 919.78 crore claims from ARSS Infrastructure...

NCLAT Rejects Jindal Power Bid for Tuticorin Coal Terminal

January 10, 2024 18:27

New Delhi, Jan 10 (PTI) The insolvency appellate tribunal NCLAT has dismissed the plea of Jindal Power to allow the company to participate in the ongoing resolution process of debt-ridden Tuticorin...

NCLAT Saves Hyatt Regency Mumbai From Insolvency

January 9, 2024 22:50

New Delhi, Jan 9 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Tuesday set aside insolvency proceedings against Asian Hotels (West), which operates Hyatt Regency, Mumbai. The...

Vedanta Acquires Meenakshi Energy for Rs 1,440 Crore

December 27, 2023 21:11

New Delhi, Dec 27 (PTI) Anil Agarwal-promoted Vedanta on Wednesday said Meenakshi Energy Ltd has become its wholly-owned subsidiary. The National Company Law Tribunal had earlier approved...

Future Enterprises Invites Bids for Insurance & Apparel Units

December 27, 2023 16:29

New Delhi, Dec 27 (PTI) The resolution professional of debt-ridden Future Enterprises Ltd (FEL) has invited Expression of Interest for the company's assets, including stakes in the insurance...

Axis Bank Seeks Zee Learn Insolvency: NCLT Filing

December 27, 2023 11:43

New Delhi, Dec 27 (PTI) Private sector lender Axis Bank has filed a petition against Zee Learn before the National Company Law Tribunal (NCLT) seeking insolvency proceedings against the the...

India's Fiscal Deficit Target: Govt on Track for 5.9% in FY24

December 18, 2023 17:05

New Dehi, Dec 18 (PTI) The government on Monday said it is likely to achieve the fiscal deficit target of 5.9 per cent of the GDP in the current financial year. So far in the current fiscal, the...

PSBs Transfer Over Rs 11,617 Cr NPAs to NARCL - Finance Ministry

December 12, 2023 15:18

New Delhi, Dec 12 (PTI) A total of 10 Public Sector Banks (PSBs) have transferred Non-Performing Assets (NPAs) of over Rs 11,617 crore to NARCL between January and November this year, the Finance...

Indian Economy Growth: Exports, Manufacturing &...

Mumbai, June 30 (PTI) Healthy increase in the country's exports, improvement in the...

India Launches Anti-Dumping Probe on Glass...

New Delhi, June 30 (PTI) India has initiated an anti-dumping probe into the import of...

IBBI Launches Electronic Forms for Liquidation...

New Delhi, Jun 30 (PTI) To ease the compliance burden for insolvency professionals, and...

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