7 June 2020: Despite a growing clamour for fast takeover the of debt-ridden Jaypee Infratech, state-run NBCC has said that it will wait for a clear direction from the National Company Law Appellate Tribunal (NCLAT) to start construction activity at… Read More ›
India Bankruptcy
MC: Edelweiss group acquires Navayuga group’s road assets in north-east India for $150 million
7 June 2020: The Edelweiss group, on June 7, announced the buyout of two annuity road assets in north- east India from engineering and core infrastructure player Navayuga Engineering ,the flagship entity of the Hyderabad based Navayuga group which is… Read More ›
TOI : Will clear all dues of city manufacturers, assures Atlas Cycles
5 June 2020: Ludhiana: Even as bicycle parts manufacturers of Ludhiana are nervous after Atlas Cycles (Haryana), Sahibabad, shut down its plant, the latter have given an assurance that they will clear all dues of city-based cycle parts manufacturers. According… Read More ›
FE: Debt Rejigging: Jain Irrigation wants easier payment terms
3 June 2020: Jain Irrigation has submitted a proposal to lenders asking they restructure Rs 4,000 crore of loans, sources close to development told FE. The rejigging of debt is expected to be such that the company is allowed to… Read More ›
CNBC-TV18: Bids invited from 4 little known suitors shortlisted for Jet Airways
3 June 2020: Only four out of twelve suitors that came forward to submit an Expression of Interest to acquire grounded airline Jet Airways have made the eligibility cut, as per people in the know. CNBC-TV18 had earlier reported that Jet… Read More ›
BQ:Lenders Put Up Reliance Naval For Sale Under Insolvency Process
1 June 2020: Lenders of Reliance Naval and Engineering Ltd., part of Anil Ambani’s Reliance Group, have sought expressions of interest from buyers for the sale of the private shipbuilder under the Insolvency and Bankruptcy Code. The company is currently… Read More ›
LM: Jet Airways receives fresh EoIs ahead of the deadline
28 May 2020: The UK-based Kalrock Capital, Hyderabad-based Turbo Aviation, Alpha Airways and Canadian citizen Siva Rasiah are among the 11 investors who have submitted expressions of interest in the beleagured airline Jet Airways. The deadline for submitting EoI was… Read More ›
MC: NCLT approves IL&FS stake sale in GIFTCL to Gujarat govt
27 May 2020: The National Company Law Tribunal has approved crisis-hit IL&FS to selling its stake in Gujarat International Finance Tec-City Company (GIFTCL) to the Gujarat government. IL&FS has 50 percent stake in GIFTC. The Gujarat government has agreed to pay… Read More ›
TNIE: Patanjali Ayurved to raise Rs 250 crore through debentures
27 May 2020: Baba Ramdev-led Patanjali Ayurved plans to issue debentures worth Rs 250 crore that will be used to meet its working capital requirements and strengthen supply chain network. This would be the first-ever issuance of debentures by the Haridwar-based… Read More ›
ET: NCLT clears decks for Tatas’ acquisition of Bhushan Steel
16 May 2020: The National Company Law Tribunal (NCLT) on Tuesday approved Tata Steel’s bid for Bhushan Steel Limited (BSL), clearing the deck for the bankrupt mill’s acquisition by India’s oldest maker of the primary infrastructure alloy. The NCLT also… Read More ›
