16 January 2020: The National Company Law Appellate Tribunal (NCLAT) has asked the investigative agencies like Enforcement Directorate, SFIO and the CBI to file an affidavit clarifying whether JSW Steel, a successful bidder for Bhushan Power and Steel Ltd (BPSL), is liable for… Read More ›
India Bankruptcy
VCC: Hinduja Group loses interest in Jet Airways but two suitors still in fray
16 January 2020: UK-based Hinduja Group did not submit its interest for Jet Airways Ltd by the Wednesday deadline, a lender that is part of the airline’s committee of creditors told VCCircle, locking shares of the airline in the lower… Read More ›
ET:Deutsche Bank-led group a step closer to Jindal India deal
16 January 2020: A Deutsche Bank-led consortium’s efforts to buy out the debt of a power plant operator in eastern India have advanced, after no rival bidder emerged. The struggling utility is Jindal India Thermal Power Ltd., one of a… Read More ›
FE: Jet Airways creditors file claims worth Rs 30,907 crore
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 ›
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 ›
