Search result for 'resolution plan'

Vedanta to Acquire Jaiprakash Associates: Insolvency Deal

March 28, 2025 16:22

Vedanta Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process. Adani Group has also submitted an EOI. Learn more about the deal and the implications...

Adani Group to Acquire Jaiprakash Associates Through Insolvency

March 26, 2025 15:55

Adani Group has expressed interest in acquiring Jaiprakash Associates Ltd (JAL) through insolvency proceedings. JAL, a company with diverse businesses including cement, power, and real estate, is...

IBBI Mandates Carry-Forward Loss Disclosure in Insolvency

March 19, 2025 22:26

The IBBI has made it mandatory for insolvency professionals to disclose carry-forward losses in the Information Memorandum during the insolvency process. This aims to provide potential resolution...

Parl Panel Urges Transparent Insolvency Case Tracking

March 19, 2025 20:00

A Parliamentary panel recommends a transparent system to track insolvency case resolution time, a central online portal for resolution plans, and improved CoC representation.

Sebi Expands UPSI Scope: Fundraising, Restructuring

March 13, 2025 15:44

Sebi broadens the definition of Unpublished Price Sensitive Information (UPSI) to include fundraising, restructuring, and other events impacting company management and control. The new rules come...

NCLT Extends Deadline for Reliance Capital Transfer to IIHL

March 12, 2025 19:32

The National Company Law Tribunal (NCLT) has given an additional eight days to complete the ownership transfer of Reliance Capital (RCAP) to IndusInd International Holdings Ltd (IIHL). The...

Jaiprakash Associates Must Be Sold as One Unit: NCLT

March 10, 2025 16:08

NCLT rules Jaiprakash Associates must be sold as a whole entity during insolvency proceedings, rejecting the option of dividing assets. The tribunal emphasizes the importance of the company being...

NCLAT Upholds Duncans Industries Resolution Plan

March 9, 2025 13:54

The NCLAT dismissed appeals against the resolution plan for Duncans Industries, clarifying that lease renewal decisions are within the state government's jurisdiction.

Naveen Jindal Group Acquires Bhadreshwar Vidyut for Rs 500 cr

March 3, 2025 17:39

Jindal Power to acquire Bhadreshwar Vidyut for Rs 500 crore, adding 300 MW to its thermal power portfolio, expanding its presence in Gujarat and bolstering its power generation capacity.

RCAP Ownership Transfer to IIHL: NCLT Sets March 12 Deadline

February 26, 2025 15:40

NCLT directs lenders and monitoring committee to complete all procedural issues by March 12 for Reliance Capital's ownership transfer to IndusInd International Holdings Limited (IIHL).

Adani Power Acquires Vidarbha Industries Power: Key Details

February 24, 2025 15:10

Adani Power has received approval to acquire Vidarbha Industries Power Ltd (VIPL). Learn about the terms of the acquisition, including the power plant involved and regulatory approvals.

Insolvency Law: Creditors Recover Rs 3.58 Lakh Crore

February 11, 2025 15:56

Creditors have recovered Rs 3.58 lakh crore through resolution plans under India's insolvency law, according to official data. Learn more about the impact of the Insolvency and Bankruptcy Code (IBC).

IIHL to Acquire Reliance Capital by Feb 26: NCLT Approves

February 10, 2025 21:16

IndusInd International Holdings Limited (IIHL) is set to acquire Reliance Capital by February 26, 2025, after the National Company Law Tribunal (NCLT) approved the acquisition. The move aims to...

Jaypee Infra Gets RERA Revalidation for 7 Stalled Projects

February 10, 2025 17:32

Suraksha Group-controlled Jaypee Infratech Ltd has received RERA registration revalidation for 7 stalled projects in Delhi-NCR, enabling construction resumption and delivery to homebuyers.

NCLT Revokes Logix Infra Insolvency, Cites Fraud

February 9, 2025 11:53

NCLT has revoked insolvency proceedings against Logix Infrastructure, citing fraudulent intentions and a collusive petition by the financial creditor. The tribunal found a nexus between the...

IBBI Eases Homebuyer Woes in Insolvency Process

February 5, 2025 22:18

The Insolvency and Bankruptcy Board of India has amended rules to ease homebuyers' woes in stalled real estate projects, allowing them to take possession while resolution is underway.

IBBI Issues Paper to Streamline Corporate Resolution

February 4, 2025 22:19

Insolvency ''Bankruptcy Board of India (IBBI) proposes amendments to the resolution framework for better efficiency and transparency.

Busy Bee Airways to Acquire Go First, NCLAT Hearing

January 31, 2025 18:44

Busy Bee Airways aims to acquire Go First as a going concern and will reach out to lenders. NCLAT hears petitions challenging Go First's liquidation.

PC Jeweller Settles Sebi Case for Rs 7.23 Crore

January 24, 2025 18:37

PC Jeweller Ltd has settled a Sebi case related to non-disclosure of loan default information, paying Rs 7.23 crore. The case involved allegations of failing to disclose or delaying information...

Reliance Capital Delisting: Final Milestone for IIHL Acquisition

January 22, 2025 17:56

IndusInd International Holdings (IIHL) confirms Reliance Capital delisting as the final step towards acquiring the debt-ridden financial firm. The transaction is expected to be completed by...

Reliance Capital Delisting: Shares to Be Removed from Exchanges

January 21, 2025 20:48

Reliance Capital (RCAP) is seeking delisting from stock exchanges as part of its resolution process, following the acquisition by IndusInd International Holdings Ltd. The company has approached BSE...

Go First Liquidation Ordered by NCLT

January 20, 2025 19:07

NCLT orders liquidation of Go First after the airline filed for insolvency in May 2023. The decision was made after a resolution process failed to secure a buyer.

Tulip Hotels Liquidated by NCLT After Failing to Attract Bidders

January 19, 2025 14:15

NCLT has ordered the liquidation of Tulip Hotels after the company failed to secure a bidder during its insolvency resolution process. The decision comes after the 180-day timeline for finding a...

JSW Energy Acquires 3.6 GW KSK Mahanadi Power Plant

January 13, 2025 18:35

JSW Energy has secured a letter of intent to acquire KSK Mahanadi Power Company, adding 3.6 GW of thermal power capacity to its portfolio. The acquisition is subject to regulatory approvals.

Nuvoco Vistas Wins Bid for Vadraj Cement

January 6, 2025 17:05

Nuvoco Vistas Corp. has won the bid for Vadraj Cement, currently undergoing insolvency. The deal will increase Nuvoco's cement production capacity to 31 MMTPA and solidify its position as the...

Reliance Acquires Karkinos Healthcare for Rs 375 cr

December 28, 2024 13:37

Reliance Industries has acquired oncology-focused healthcare platform Karkinos for Rs 375 crore, expanding its health services business portfolio. Karkinos provides technology-driven solutions for...

NCLAT Upholds Reliance Broadcast Sale to Sapphire Media

December 23, 2024 20:34

The NCLAT dismissed appeals challenging the sale of Reliance Broadcast Network to Sapphire Media, upholding the NCLT order. The appeals alleged irregularities in the process but were rejected.

Hinduja Group to Acquire Reliance Capital by Jan-End

December 15, 2024 18:00

IIHL aims to complete the acquisition of Reliance Capital by January 2025 and plans to expand its financial services business to USD 50 billion in 5 years.

NCLAT Upholds Sale of Golden Jubilee Hotels, Rejects EIH Plea

December 15, 2024 13:32

The NCLAT upheld the sale of Golden Jubilee Hotels to a Singapore-based entity, rejecting EIH's plea against the NCLT order. The tribunal found EIH ineligible under IBC's Section 29A.

Public Sector Bank NPAs at Rs 3.16 Lakh Crore: Parliament Informed

December 10, 2024 16:28

Gross non-performing assets (NPAs) of public sector banks (PSBs) reached Rs 3.16 lakh crore as of September 30, 2024, representing 3.09% of outstanding loans, Parliament was informed on Tuesday.

RBI Calls for Enforceable CoC Code in Insolvency

December 7, 2024 15:59

RBI Deputy Governor advocates for an enforceable code of conduct for the Committee of Creditors (CoC) under India's Insolvency and Bankruptcy Code (IBC) to improve creditor behavior and enhance...

DPIIT Approves Hinduja Group's Acquisition of Reliance Capital

November 21, 2024 19:15

The Department for Promotion of Industry and Internal Trade (DPIIT) has approved Hinduja Group's IIHL to acquire debt-ridden Reliance Capital Ltd (RCAP), paving the way for the resolution plan to...

IBBI Proposes Mandatory Monitoring Committees for IBC Resolution Plans

November 20, 2024 22:29

IBBI proposes mandatory monitoring committees for resolution plans under the Insolvency and Bankruptcy Code (IBC) to ensure smooth implementation and bolster confidence in the process. The move...

Jaypee Infratech Posts Rs 88.2 Cr Profit in Q2 - Suraksha Group Takes Control

November 15, 2024 15:28

Jaypee Infratech reports Rs 88.2 crore profit in Q2, a turnaround after years of losses. Suraksha Group, which took control of the company in June, is working to complete stalled housing projects.

IBC: Lenders Face 72% Haircut in Q2, Delays Cause Liquidations

November 13, 2024 19:09

Icra reports lenders are facing significant haircuts in corporate insolvency cases due to delays exceeding the 270-day timeline, leading to more liquidations. Learn more about the impact on IBC and...

Sebi Expands Scope of Unpublished Price-Sensitive Info

November 10, 2024 11:43

SEBI proposes broadening the scope of Unpublished Price Sensitive Information (UPSI) to include fundraising activities, restructuring plans, and one-time bank settlements.

IBBI Proposes Real Estate Insolvency Reforms

November 7, 2024 21:53

The Insolvency and Bankruptcy Board of India (IBBI) proposes reforms to streamline the insolvency process for real estate companies and enhance protection for stakeholders.

Jet Airways Liquidated: End of an Era

November 7, 2024 18:42

Jet Airways, once a leading Indian airline, has been liquidated by the Supreme Court after years of financial troubles. The decision marks the end of an era for the airline and leaves thousands of...

UCO Bank Profit Jumps 50% to Rs 603 Cr in Q2

October 19, 2024 18:21

UCO Bank reported a 50% surge in net profit to Rs 603 crore in Q2 FY25, driven by improved interest income and asset quality. The bank expects continued growth.

Rs 3.5 Lakh Cr Recovered Under IBC: Ravi Mital

October 1, 2024 17:25

Lenders have recovered Rs 3.5 lakh crore through resolution of stressed assets under the Insolvency and Bankruptcy Code (IBC) in the last eight years, IBBI Chairperson Ravi Mital said. The NCLT has...

Future Lifestyle Fashions Approved by Space Mantra Consortium

September 28, 2024 15:00

Lenders of Future Lifestyle Fashions Ltd have approved the resolution plan submitted by a consortium of Space Mantra and Sandeep Gupta & Shalini Gupta. The resolution plan was approved by the...

NCLAT Orders IndusInd to Respond on Reliance Capital Interest Plea

September 13, 2024 14:20

The NCLAT has directed IndusInd International Holdings Ltd to respond to a plea filed by Reliance Capital lenders seeking interest on payment for the extended period.

IIHL to Raise Rs 3,000 Crore via NCDs for Reliance Capital Acquisition

September 9, 2024 20:49

IIHL, the successful bidder for Reliance Capital, plans to raise Rs 3,000 crore through NCDs to fund the acquisition. The move follows NCLT's approval of IIHL's resolution plan for the debt-ridden...

IIIPI Proposes Measures for Faster Insolvency Resolution

September 2, 2024 19:50

IIIPI recommends specialised NCLT benches and integrated case management software to expedite insolvency resolution under IBC. The study highlights the need for faster resolution of stressed assets.

Reliance Capital Lenders Accuse IIHL of Delaying Tactics

September 1, 2024 16:09

Lenders to Reliance Capital allege that IIHL is delaying the implementation of the resolution plan, citing a required DIPP approval. The NCLT has directed the RBI and DIPP to expedite the process.

Sebi Approves IIHL's Acquisition of Invesco PMS Business

August 30, 2024 17:19

Sebi has approved IndusInd International Holdings (IIHL)'s acquisition of Invesco AMC's portfolio management services business. The transaction is expected to be completed soon, pending one final...

Suraksha Group Earmarks Land for Jaypee Infratech Lenders

August 29, 2024 14:03

Suraksha Group, which acquired Jaypee Infratech Ltd through insolvency, has earmarked 2,552 acres of land for lenders, including 2,372 acres for assenting lenders and 180 acres for ICICI. The group...

IIHL Raises GST Liability Concern in RCap Resolution Plan

August 28, 2024 20:43

IndusInd International Holdings (IIHL) expressed concern over Rs 850 crore GST liability in implementing Reliance Capital's resolution plan. The NCLT approved IIHL's Rs 9,650 crore plan in...

Reliance Capital Debt: Lenders Raise Concerns Over IIHL Term Sheet

August 25, 2024 17:43

Lenders to Reliance Capital express concerns over the term sheet provided by IIHL for Rs 7,300 crore debt to fund the acquisition of the debt-ridden company.

Suraksha Group Invests Rs 250 Cr in Jaypee Infratech, Completes 20,000 Flats

August 25, 2024 15:13

Suraksha Group has infused Rs 250 crore in Jaypee Infratech after acquiring it through insolvency and secured a Rs 3,000 crore loan to complete 20,000 unfinished flats in Delhi NCR.

Adani Power Acquires Lanco Amarkantak Power for Rs 4,101 Cr

August 22, 2024 20:51

Adani Power has received NCLT approval to acquire Lanco Amarkantak Power Ltd (LAPL) for Rs 4,101 crore. The acquisition will add 600 MW of thermal power capacity to Adani Power's portfolio.

NCLAT Asks RP to Submit Email to Sarda Energy on SKS Power Resolution Plan

August 21, 2024 19:14

The NCLAT directed the resolution professional of SKS Power Generation to submit the email sent to Sarda Energy on May 8, 2023, seeking clarifications over its resolution plan for the debt-ridden...

SKS Power Insolvency: Torrent, Vantage Point Seek Stay on Sarda Bid

August 20, 2024 19:10

Lenders of SKS Power Generation received Rs 1,950 crore from Sarda Energy, the successful bidder. Torrent Power and Vantage Point challenged the NCLT order, seeking a stay on the bid.

Reliance Group vs. IIHL: NCLT Restraint on Brand Name Use

August 19, 2024 18:57

Reliance Group has moved NCLT to prevent IIHL, Reliance Capital's resolution applicant, from using the 'Reliance' brand name following the implementation of the resolution plan.

Torrent Power Challenges Sarda Energy Bid for SKS Power

August 19, 2024 18:22

Torrent Power appeals NCLAT against approval of Sarda Energy's bid for SKS Power Generation, citing discriminatory selection process and higher upfront payment.

Oberoi Realty to Pay Rs 230 Crore for Nirmal Lifestyle Realty

August 12, 2024 20:22

Oberoi Realty has secured NCLT approval for its resolution plan for Nirmal Lifestyle Realty, involving a payment of Rs 230 crore to creditors and acquisition of the bankrupt firm.

NCLT Orders RBI, DIPP to Expedite RCap Resolution Plan

August 12, 2024 15:49

The National Company Law Tribunal (NCLT) has directed the Reserve Bank and Department of Industrial Policy and Promotion to expedite the approval process for Reliance Capital's resolution plan by...

NCLT Orders Hinduja Group to Deposit Rs 2,750 Cr for Reliance Capital

August 8, 2024 17:48

The National Company Law Tribunal directed IndusInd International Holdings (IIHL), part of the Hinduja Group, to deposit Rs 2,750 crore in an escrow account within 48 hours as part of Reliance...

NCLT to Hear Reliance Capital Resolution Case: IIHL to Face Directions

August 6, 2024 19:41

The Mumbai bench of NCLT will hear an interlocutory application filed by the Administrator of Reliance Capital seeking directions to IIHL for implementation of the resolution plan. The...

IIHL Fails to Comply with NCLT Order: RCAP Administrator

August 4, 2024 15:39

The Administrator of Reliance Capital has accused IIHL of non-compliance with NCLT order, alleging the Hinduja Group firm failed to deposit funds in designated escrow accounts.

NCLT Approves Record 269 Resolution Plans in FY24

August 2, 2024 18:20

NCLT approved 269 resolution plans in FY24, a 42% increase from the previous year. This rise is attributed to greater investor interest in stressed assets, appointment of new NCLT members, and...

Reliance Capital Resolution: Hinduja Group Faces Action

August 2, 2024 14:05

Lenders of Reliance Capital threaten action against Hinduja Group's IndusInd International Holdings for failing to meet NCLT-imposed conditions, including escrow deposit.

Future Retail Liquidated: NCLT Orders Winding Up

July 29, 2024 23:17

The National Company Law Tribunal has ordered the liquidation of Future Retail after the maximum period of the corporate insolvency resolution process expired without a resolution plan. The company...

IIHL Gets Extension to Complete Reliance Capital Resolution Plan

July 23, 2024 12:35

The National Company Law Tribunal has granted an extension till August 10 to IIHL to complete the formalities to implement the resolution plan for bankrupt Reliance Capital. The tribunal directed...

Insolvency & Bankruptcy Code: Rs 10.2 Lakh Cr Defaults Settled

July 22, 2024 14:44

India's Insolvency & Bankruptcy Code (IBC) has helped settle Rs 10.2 lakh crore in defaults since 2016, with real estate companies accounting for a significant portion. The IBC has also enabled...

YEIDA Withdraws Appeal Against Ace Infracity Bid

July 7, 2024 19:08

YEIDA has withdrawn its appeal against Ace Infracity's bid for Three C Homes after accepting a proposal for farmer compensation. The NCLAT approved the bid, which includes a Rs 140.39 crore...

IBBI Proposes Insolvency Rule Amendments: Public Comments Sought

June 20, 2024 22:29

The IBBI has proposed amendments to insolvency rules aimed at enhancing efficiency and reducing costs. Public comments are invited until July 10.

RCap Resolution: NCLT Defers IIHL Deadline to June 25

June 20, 2024 18:55

The National Company Law Tribunal (NCLT) has deferred the matter regarding IIHL's plea for an extension of the deadline to complete Reliance Capital's resolution to June 25. The matter...

Reliance Capital Resolution: NCLT Hearing on June 20

June 13, 2024 19:14

The NCLT will hear IIHL's plea for an extension to complete Reliance Capital's resolution on June 20. The Hinduja Group firm is the successful bidder for the debt-ridden company.

Jaypee Infratech Delists Shares, Appoints New CFO

June 13, 2024 10:42

Jaypee Infratech, now under Suraksha Group control, appoints new CFO and will delist shares. Suraksha Group will infuse Rs 125 crore to complete unfinished projects.

Suraksha Group Invests Rs 125 Cr in Jaypee Infratech

June 12, 2024 10:50

Suraksha Group has infused Rs 125 crore in Jaypee Infratech, acquired through insolvency, to complete 20,000 unfinished flats in Delhi NCR and settle bank dues.

Suraksha Group Takes Over Jaypee Infratech: Relief for Homebuyers

June 5, 2024 13:21

Suraksha Group has taken over Jaypee Infratech, bringing relief to over 20,000 homebuyers. The group will infuse Rs 125 crore to start construction of stalled projects.

NCLAT Reopens Eagle Fashions Bid for Sumeet Industries

May 31, 2024 19:11

The National Company Law Appellate Tribunal (NCLAT) has asked NCLT to reconsider Eagle Fashions'' bid for debt-ridden Sumeet Industries, setting aside an earlier rejection.

IBC Success: FM Slams Congress for Regressive Policies

May 30, 2024 19:12

Finance Minister Nirmala Sitharaman highlights the success of the Insolvency and Bankruptcy Code (IBC), criticizing Congress for hindering economic growth with regressive policies.

Jet Airways Delays FY24 Results, Resolution Plan Underway

May 30, 2024 17:12

Jet Airways announces delay in FY24 results due to implementation of the approved resolution plan. The monitoring committee will meet to review financial performance.

Jet Airways Insolvency: JKC Withdraws Escrow Plea

May 28, 2024 17:37

The Jalan Kalrock Consortium (JKC) has withdrawn its plea to put Rs 200 crore in escrow after the NCLAT refused relief. The matter is now before the Supreme Court.

NCLAT Upholds Adani Goodhomes Bid for Radius Estate

May 28, 2024 16:53

NCLAT has upheld Adani Goodhomes' resolution plan for Radius Estate, giving creditors a 93% haircut. The plan was opposed by dissenting financial creditors, but the tribunal said it was 'commercial...

NCLAT Upholds Jaypee Infra Acquisition, Suraksha to Pay More

May 24, 2024 15:39

NCLAT upholds Suraksha Realty's bid to acquire Jaypee Infratech but orders additional Rs 1,300 crore payment for farmers' compensation. The decision provides relief to homebuyers.

RCap Seeks 90-Day Extension to Implement Resolution Plan

May 23, 2024 13:52

Reliance Capital administrator has requested a 90-day extension from NCLT to implement the resolution plan submitted by the Hinduja Group. The deadline for implementation was originally May 27, 2024.

Sebi Fines Reliance Home Finance Rs 8 Lakh for Disclosure Lapses

May 17, 2024 21:50

Sebi penalized Reliance Home Finance Rs 8 lakh for failing to disclose NCLT order information and debt resolution plan details within stipulated timeframes.

Reliance Capital Seeks Extension to Transfer Assets to Hinduja

May 17, 2024 20:18

Reliance Capital's administrator requests a 10-day extension from RBI to transfer assets to Hinduja Group company, Aasia Enterprises. The deadline for the transfer was Friday, May 17.

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

May 17, 2024 17:08

Creditors' haircuts in Indian bankruptcy cases rose to 73% in FY24, with resolution times increasing, according to Icra report. Learn about the impact on creditors and the insolvency process.

Hinduja Group to Take Over Reliance Capital: IRDAI Approves

May 11, 2024 17:57

IRDAI has given conditional approval to IndusInd International Holdings Ltd for the takeover of Reliance Capital. The deal is expected to be finalized by May 27, 2024.

IIHL Awaits Irdai Nod for Rs 9,650 Cr Reliance Capital Acquisition

May 5, 2024 19:01

IIHL, led by Ashok Hinduja, is awaiting Irdai approval for its Rs 9,650 crore Reliance Capital acquisition. The deal faces scrutiny due to potential FDI violations and reliance on borrowings. IIHL...

NCLT Debt Resolution Cases Surge 43% in 2023-24: IBBI

May 4, 2024 16:37

The National Company Law Tribunal (NCLT) saw a 43% increase in debt resolution cases in 2023-24, with the Insolvency Bankruptcy Board of India (IBBI) emphasizing mediation and prepackaged insolvency.

RCAP Lenders Urge Hinduja Group to Meet Deadline

April 28, 2024 15:53

Lenders of debt-ridden Reliance Capital (RCAP) have urged Hinduja Group's IndusInd International Holdings to expedite the resolution plan approval process and meet the May 27 deadline.

IRDAI Raises Concerns Over Hinduja Group's Reliance Capital Bid

April 7, 2024 15:30

Insurance regulator IRDAI has expressed reservations over Hinduja Group's IndusInd International Holdings' resolution plan for Reliance Capital, citing concerns about equity capital and FDI. The...

IndusInd International Wins RCap Bid for Rs 9,650 Crore

February 27, 2024 20:59

NCLT approves IndusInd International Holdings' Rs 9,650 crore resolution plan for Reliance Capital, resulting in a 63% haircut for lenders. Learn more about the deal and its implications.

IndusInd International Holdings Wins Reliance Capital Bid

February 27, 2024 11:13

NCLT approves Hinduja Group firm IndusInd International Holdings' Rs 9,650-crore resolution plan for Reliance Capital, which had a debt of over Rs 40,000 crore.

Insolvency Law: Debtors Resolve Cases Before Admission - IBBI

February 20, 2024 16:43

IBBI reports a surge in debtors resolving cases before insolvency proceedings, attributing it to the credible threat of ownership change. Over 27,500 applications withdrawn before admission,...

Gitanjali Gems Liquidated: NCLT Orders Winding Up

February 19, 2024 21:00

The National Company Law Tribunal (NCLT) has ordered the liquidation of Gitanjali Gems, promoted by Mehul Choksi, due to ongoing investigations and bleak revival prospects. The company was admitted...

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

February 16, 2024 20:28

The Insolvency and Bankruptcy Board of India (IBBI) has amended insolvency resolution process norms to enhance transparency, efficiency, and streamline real estate project resolutions.

Go First Insolvency Deadline Extended by NCLT

February 13, 2024 14:30

The National Company Law Tribunal has extended the deadline for Go First's insolvency resolution process by another 60 days, allowing more time for interested parties to submit their bids.

SC Allows Arbitration in IOC-ArcelorMittal Essar Steel Dispute

February 12, 2024 20:10

The Supreme Court has permitted Indian Oil Corporation (IOC) and ArcelorMittal Nippon Steel India Limited (AMNSIL) to initiate arbitration to resolve their dispute over Essar Steel India Limited.

Jaypee Infratech Insolvency: Monitoring Panel Seeks NCLT Direction

February 12, 2024 17:26

Amid legal challenges, the monitoring panel overseeing Jaypee Infratech's insolvency has sought NCLT direction to implement Suraksha group's resolution plan, aiming for relief for over 20,000...

IBBI Rationalizes Insolvency Professional Entity Framework

February 2, 2024 21:13

The Insolvency and Bankruptcy Board of India (IBBI) has rationalized the regulatory framework for insolvency professional entities (IPEs), clarifying disciplinary proceedings, assignment limits,...

NCLAT Overturns Liquidation Order of SARE Realty Projects

January 17, 2024 20:46

NCLAT sets aside NCLT's order to liquidate SARE Realty Projects without exploring sale options, ruling that lenders must exhaust resolution steps before liquidation.

JSW Energy Commissions 350 MW Unit in Odisha

January 15, 2024 13:58

JSW Energy has commissioned a 350 MW unit at its Ind-Barath thermal power plant in Odisha, increasing its operational capacity to 7,189 MW. The unit will diversify the company's fuel mix and...

NCLAT: Former Promoters Can Bid in IBC Cases

January 11, 2024 20:38

The National Company Law Appellate Tribunal clarifies that former promoters and directors can submit bids in insolvency cases unless they meet specific ineligibility criteria under Section 29A of...

RBI Chief Calls for IBC Course Correction: Recovery Rate, Time & Haircuts

January 11, 2024 17:51

RBI Governor Shaktikanta Das highlights learnings from IBC implementation, suggesting course correction regarding resolution time & haircuts. 32% recovery rate achieved, but challenges remain.

RBI Chief Calls for IBC Course Correction: 32% Claims Recovered

January 11, 2024 17:45

RBI Governor Shaktikanta Das highlights learnings from the Insolvency and Bankruptcy Code (IBC) implementation, suggesting the need for course correction. He notes a 32% recovery rate on claims,...

NCLAT Rejects Union Bank's Plea on Lavasa Corp Bid

January 10, 2024 19:39

The National Company Law Appellate Tribunal dismissed Union Bank of India's plea to challenge Darwin Platform Group's bid for Lavasa Corporation, a private hill city developer.

NCLAT Rejects Jindal Power Bid for Tuticorin Coal Terminal

January 10, 2024 18:27

The NCLAT dismissed Jindal Power's bid to participate in the resolution process of debt-ridden Tuticorin Coal Terminal, upholding the NCLT's decision that JPL was ineligible to submit a Resolution...

NCLAT Saves Hyatt Regency Mumbai From Insolvency

January 9, 2024 22:50

The National Company Law Appellate Tribunal (NCLAT) has set aside insolvency proceedings against Asian Hotels (West), operator of Hyatt Regency, Mumbai. The tribunal accepted the proposal submitted...

Steel Strips Wheels Invests Rs 138 cr in AMW Autocomponent

January 9, 2024 16:04

Steel Strips Wheels Ltd will invest Rs 138 crore in AMW Autocomponent Ltd as part of an insolvency resolution plan approved by the NCLT Ahmedabad.

Insolvency Resolution Delays: NCLT Faces Challenges

December 30, 2023 11:24

India's insolvency resolution process faces delays due to manpower crunch and missed timelines at NCLT, impacting asset value and creditor recovery.

Vedanta Acquires Meenakshi Energy for Rs 1,440 Crore

December 27, 2023 21:11

Vedanta has acquired Meenakshi Energy Ltd, a 1,000-MW coal-based power plant, for Rs 1,440 crore. The acquisition was approved by the NCLT and the company will now operate the plant as an...

Swan Energy Repays Rs 40 Crore Textile Unit Debt

December 27, 2023 20:38

Swan Energy has repaid Rs 40 crore debt for its textile unit, part of its commitment to reduce debt. The company also recently acquired Reliance Naval and Engineering, expanding its operations into...

Sebi Fines Fedders Electric Officials Rs 4 Crore, Bans 5

December 26, 2023 16:52

Sebi has imposed a penalty of over Rs 4 crore on five former officials of Fedders Electric and Engineering Ltd (FEEL) and barred them from the securities market for two years for malpractices in...

NCLAT Upholds Sale of Jet Airways Aircraft

December 22, 2023 22:11

The National Company Law Appellate Tribunal (NCLAT) has dismissed appeals challenging the sale of three Jet Airways aircraft to Ace Aviation, upholding the NCLT order.

Lebanon Faces Recession: World Bank on Gaza War Impact

December 21, 2023 20:00

The World Bank warns that Lebanon's fragile economy, recovering from years of crisis, is likely to be pushed back into recession due to the Gaza war's ripple effects.

RCom Real Estate Assets Sold: NCLT Mumbai Approves

December 13, 2023 22:53

NCLT Mumbai approves the sale of Reliance Communications'' real estate assets, including office spaces in Chennai, Pune, and Bhubaneswar.

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

December 12, 2023 15:18

10 Public Sector Banks transferred over Rs 11,617 crore in NPAs to NARCL between January and November 2023, according to the Finance Ministry. NARCL has recovered Rs 16.64 crore so far.

NCLAT Stays CCI Penalty on NTPC for Ratnagiri Gas Acquisition

December 9, 2023 18:19

The National Company Law Appellate Tribunal (NCLAT) has stayed a CCI order imposing a penalty on NTPC for not disclosing the acquisition of 35.47% in Ratnagiri Gas & Power. NTPC argued the...

NARCL Acquires SREI Cos, Resolves Rs 32,700cr Debt

December 8, 2023 21:51

NARCL successfully acquires SREI Equipment Finance and SREI Infrastructure Finance under the Insolvency and Bankruptcy Code, resolving a significant Rs 32,700 crore financial debt.

Real Estate Insolvency Rules: Changes & Impact

November 8, 2023 20:28

Proposed changes to insolvency rules for real estate projects aim to improve the current regime and provide relief for homebuyers. Learn more about the key amendments and their impact on the industry.

IBBI Proposes Amendments to Streamline IBC Resolution Process

November 1, 2023 22:27

The Insolvency and Bankruptcy Board of India (IBBI) proposes amendments to regulations to streamline the corporate resolution process and prevent delays in resolution plan implementation. The...

Jet Airways Insolvency: NCLAT Adjourns Hearing to Nov 9

November 1, 2023 20:31

The National Company Law Appellate Tribunal (NCLAT) has adjourned the hearing on the Jet Airways insolvency case to November 9, over the transfer of ownership to the Jalan Kalrock Consortium.

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