22 August 2019: Videocon Industries has approached the bankruptcy court to include its overseas oilfield assets Videocon Energy Brazil Ltd and Videocon Indonesia Nunukan Inc in the ongoing corporate insolvency resolution process. Videocon Group’s consumer electronics business was admitted for… Read More ›
Month: August 2019
FE/IE: Dutch court threatens to sell Jet Airways’ confiscated assets
22 August 2019: The administrator of a Netherlands court, which is pursuing insolvency of grounded Jet Airways, on Wednesday threatened to sell off the confiscated assets of the debt-laden carrier because of non-cooperation by the committee of creditors (CoC). A… Read More ›
DNA: Lenders fail to attach Sterling Biotech’s overseas assets
22 August 2019: Banks have failed to take adequate safeguards to protect the loans extended to Sterling Biotech by attaching the oil assets of the promoters in Nigeria. Instead of carrying out a prior examination on how this could be… Read More ›
BS: Nithia Capital identifies Indian stressed steel assets for acquisition
21 August 2019: Nithia Capital, a UK-based alternative investment manager that specialises in turning around underperforming facilities, has identified around 15 stressed steel assets in India for acquisition. While Nithia has zeroed in on about 15 assets, it is not… Read More ›
FE: UBI: Current DHFL resolution plan best under circumstances
21 August 2019: The resolution plan for Dewan Housing Finance (DHFL) that lenders are now examining is the best one under the circumstances, said Rajkiran Rai G, managing director and chief executive officer, Union Bank of India (UBI), the lead… Read More ›
LM: Lights out for CG Power as serious lapses are revealed
20 August 2019: The board of Gautam Thapar-promoted CG Power and Industrial Solutions Ltd said the company will restate accounts after discovering “significant accounting irregularities” and governance lapses, sending its shares plunging by the maximum daily limit of 20% on… Read More ›
CNBCtv18: NCLT admits HDIL for IBC proceedings
20 August 2019: Housing Development and Infrastructure Limited (HDIL) has informed the Bombay Stock Exchange that it has been admitted under the provisions of the Insolvency Bankruptcy Code (IBC) in National Company Law Tribunal (NCLT). It has also stated that… Read More ›
ET: SC stays appellate tribunal’s order in RCom OTSC Case
20 August 2019: The Supreme Court on Monday stayed an appellate tribunal’s order which had stalled the telecom department’s demand for Rs 2,000 crore from Reliance Communications (RCom) as one-time spectrum charges (OTSC), an order which may have wider ramifications… Read More ›
ET: Lanco Thermal Power gets financial claims worth Rs 24,000 crore
20 August 2019: Lanco Thermal Power, the holding company for investments in thermal power plants by Lanco Group, has received financial claims of Rs 24,000 crore, said two people with direct knowledge of the matter. Among the 15-20 lenders to… Read More ›
FE: Monnet Ispat: NCLAT rules against operational creditors
20 August 2019: The National Company Law Appellate Tribunal (NCLAT) on Monday ruled against operational creditors of Monnet Ispat and Energy, appealing the committee of creditors’ (CoC) decision to award them only Rs 25 crore against claims Rs 444 crore…. Read More ›
