NCLT allows insolvency proceedings against Essar Power Jharkhand

ArcelorMittal was found to be ineligible on technical grounds because it had sold shares in Uttam Galva Steels but had not been declassified as a promoter from stock exchange records.....»»

The NCLT order rendered invalid the second round of bidding held on April 2.....»»

Both bids have to be shared, evaluated by Committee of Creditors before taking any decision.....»»

Amtek Auto is one of the 12 large insolvency cases which are undergoing insolvency resolution process with NCLT.....»»

Bbankruptcy proceedings continue to drag on in several cases beyond the expected time-frame, with borrowers and unsuccessful bidders challenging the process in civil courts.....»»

The Mumbai Bench of the NCLT will hear the matter on April 18.....»»

Lenders ask company to seek clearance before approving out-of-court settlement.....»»

Edelweiss Asset Reconstruction Company (ARC) and Finquest Financial Solutions had filed petitions in this regard.....»»

NCLT asks Essar Steel RP to submit written details of arguments On Apr 9.....»»

Insolvency practitioners and legal experts appear divided over the extent of relief that homeowners will get under the IBC and the RERA.....»»

Apart from Vedanta, Tata Steel, Renaissance Steel, Edelweiss Asset Reconstruction had also submitted resolution plans.....»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

The NCLT can order liquidation if a firm fails to bring to the table a resolution plan within six months of admission of the case. This can be extended by another three months.....»»

Gupta said Liberty House would fund these acquisitions through a mix of equity and debt, and it would be asset-specific.....»»

In the 60-page order, the tribunal has also raised concern about the functioning of resolution professionals.....»»

In its resolution plan, Jaypee has offered a haircut of Rs 2.3 billion to the lenders, while Lakshadweep has offered to buy the realty firm at a hair cut of Rs 28 billion.....»»

Jaypee Infratech is one of the first 12 major insolvency cases that the RBI had directed banks to take to the NCLT under the IBC.....»»

It pleaded that the NCLT, Allahabad, be restrained from proceeding on the matter until the Supreme Court order.....»»

The NCLT's capacity needs to be increased with more benches and judges to speed up resolution of insolvency cases.....»»

The NCLT's capacity needs to be increased with more benches and judges to speed up resolution of insolvency cases.....»»