20 September 2019: The total claims filed by creditors against Jet Airways has been updated to Rs 30,907 crore. As on September 6, the resolution professional (RP) of the grounded airline has admitted claims worth Rs 14,054 crore. The RP… Read More ›
India Bankruptcy
FE: Reliance Communications RP wants status quo to be maintained on spectrum licences
20 September 2019: Deloitte, the resolution professional (RP) to Reliance Communications (RCom), has filed an application in the National Company Law Tribunal seeking a direction to the Department of Telecommunications (DoT) that status quo be maintained on spectrum licences, and… Read More ›
FE: Supreme Court seeks response from Jaiprakash Associates lenders on 858-acre land bank
20 September 2019: The Supreme Court on Thursday sought response from the lenders of Jaiprakash Associates (JAL) as to why they should not be asked to return a land bank of 858 acre to Jaypee Infratech (JIL), which is undergoing… Read More ›
ET: NCLT initiates insolvency proceedings against Sana Realtors
19 September 2019: The National Company Law Tribunal (NCLT) has initiated corporate insolvency resolution process against Sana Realtors under Section 7 of the Insolvency and Bankruptcy Code 2016. The court has appointed Sudhir Kumar Agarwal as the interim resolution professional… Read More ›
FE: Jet Airways: Synergy meets government officials to discuss airline’s revival
19 September 2019: The Synergy Group, the sole suitor for Jet Airways, met with government officials on Wednesday to discuss the revival of the grounded airline. The group, promoted by Bolivian-born German Efromovich, sought assurance from the government on recovery… Read More ›
FE: McLeod Russel urges NCLT to quash ‘status quo’ order
19 September 2019: Debt-laden McLeod Russel on Wednesday urged the Kolkata-bench of the National Company Law Tribunal (NCLT) not to continue the interim order of “status quo” against its assets as it has very “serious repercussion” and negative “ramifications” for… Read More ›
ET: Reliance Communications subsidiary files for bankruptcy protection without prior consent
18 September 2019: Debt-ridden telecom firm Reliance Communications on Wednesday said its subsidiary GCX filed for bankruptcy protection in the US without any prior consent of the company. The B2B arm of RCom, GCX has voluntarily filed for bankruptcy protection… Read More ›
ET: NCLAT asks RCom to approach NCLT for Rs 577 crore refund from Ericsson
18 September 2019: The NCLAT on Wednesday declined RCom’s resolution professional’s plea seeking refund of Rs 577 crore from Swiss firm Ericsson, and directed the RP to approach the Mumbai-bench of NCLT for the same. Reliance Communications is presently going… Read More ›
NIE: Dues from PSUs blamed for stress in Hindustan Construction Company
18 September 2019: In a sign of the huge liquidity crisis facing the economy, Hindustan Construction Company Ltd, a Mumbai-based public-private entity, is struggling to get a whopping Rs 6,070 crore in dues from top public sector undertakings (PSUs) as… Read More ›
ET: RCom may approach NCLAT for Rs 577 crore refund from Ericsson
18 September 2019: Reliance Communications is set to approach the appellate tribunal in a bid to get Swedish telecom equipment maker Ericsson to refund Rs 576.77 crore paid by the bankrupt telecom operator, a person familiar with the matter said…. Read More ›
