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  • Standard Chartered Bank challenges Essar Steels resolution plan

    Standard Chartered Bank, the third-largest secured financial creditor of Essar Steel, has filed an application before the bankruptcy court alleging that the resolution professional and Essar'scommittee of creditors (CoC) approved a resolution plan that does not comply with the Insolvency and Bankruptcy Code.

    ... Read More
  • IBC has led to the resolution of unpaid claims of nearly 3,00,000 crores: Injeti Srinivas

    The Insolvency and Bankruptcy Code (IBC) has led to the resolution of unpaid claims of nearly 3,00,000 crores with most of the cases being resolved to through settlements between creditors and debtors according to corporate affairs secretary Injeti Srinivas. Out of the 9000 cases have come to the IBC tribunals since ... Read More

  • Supreme Court grants RCom time till Dec 15 for paying Ericsson

    The Supreme Court Tuesday asked Reliance Communication Ltd to clear the dues of Rs 550 crore to telecom equipment maker Ericsson India by December 15, saying that delayed payment would attract an interest of 12 per cent per annum. A bench headed by Justice R F Nariman said that it was the last opportunity given to RC... Read More

  • KKR files bankruptcy plea against dairy firm Kwality

    Global private equity player KKR has filed insolvency plea against dairy firm Kwality Ltd before the National Company Law Tribunal (NCLT).

    Kwality Ltd in 2016 had announced that it had raised Rs 300 crore from KKR India Financial Services and got additional commitment of Rs 220 cr... Read More

  • Markss Infotech files insolvency petition against Reliance Naval

    MUMBAI: Anil Ambani-owned shipbuilder Reliance Naval & Engineering’s troubles have worsened with RFID solutions provider Markss Infotech filing a fresh insolvency petition against the firm.

    The development comes more than a month after IDBI Bank had moved the National Co... Read More

  • NCLT admits Venugopal Dhoot’s plea to consolidate insolvency cases

    New Delhi: The bankruptcy court has decided to entertain a plea by Videocon Group founder Venugopal Dhoot seeking to consolidate separate insolvency proceedings initiated by lenders led by State Bank of India against 15 of his companies under a single court.

    National Company Law T... Read More

  • NCLAT stays proceedings against IL&FS, group companies

    MUMBAI: The National Companies Law Appellate Tribunal on Monday gave relief to the central government by staying all recovery or foreclosure proceedings against IL&FS and subsidiaries by third parties till November 13.

    NCLAT asked five large creditors of IL&FS to respond o... Read More

  • NCLT grants immunity to the new IL&FS board

    The National Company Law Tribunal has empowered the newly appointed board of the debt-laden Infrastructure Leasing & Financial Services as the court has granted immunities those six directors debarring any action against them for past deeds of old directors.

    Also, the new boar... Read More

  • SAIF partners moves to NCLT against Srinivas Raju alleging fraud

    A fund of SAIF Partners has moved the National Company Law Tribunal, accusing venture capitalist Chintalapati Srinivas Raju and his firms of accounting fraud and siphoning off money from a company where the private equity firm had made an investment.

    On the complaint, the Hyderaba... Read More

  • NCLT grants immunity to the new IL&FS board

    The National Company Law Tribunal has empowered the newly appointed board of the debt-laden Infrastructure Leasing & Financial Services as the court has granted immunities those six directors debarring any action against them for past deeds of old directors.

    Also, the new boar... Read More

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