October 15, 2019 1:27 am
The ED had on Saturday attached assets worth over Rs 4,025 crore of BPSL in connection with its money-laundering probe linked to an alleged bank loan fraud. It had said that it attached land, building, plant and machinery of the company located in Odisha under the provision of PMLA.
September 16, 2019 4:03 pm
"We allow the appellant to implead Union of India through Ministry of Corporate Affairs and Enforcement Directorate as respondent No 3 & 4. The UoI may address the matter on behalf of CBI and SFIO," said NCLAT.
August 23, 2019 4:06 am
While Bakshi has paid around Rs 72 crore out of his total dues, HUDCO counsel Rohit Sharma said the state-owned entity is seeking Rs 141 crore more from the former McDonald’s promoter.
August 17, 2019 4:09 am
On June 13, the resolution professional (RP) for Amtek Auto, Dinkar Venkatasubramanian, and the CoC had sought fresh bids for the debt-ridden company after Liberty House Group backed out. This was based on a new information memorandum.
July 24, 2019 11:40 am
The NCLAT ruling in the Essar Steel case stated that all creditors whether financial or operational have to be treated equally in the case of a “resolution” under the IBC.
July 18, 2019 3:50 am
In the second round of bidding, the committee of creditors had first rejected the resolution plan of Suraksha Realty and then voted against state-owned NBCC’s offer.
July 12, 2019 10:33 pm
Jet Airways is facing insolvency proceedings in the Netherlands, as well as where it was declared bankrupt after it failed to pay two European creditors. Subsequently, a bankruptcy administrator was appointed by the Dutch court.
July 09, 2019 12:35 am
In insolvency proceedings, distinction between secured financial and operational creditors must be maintained.
June 19, 2019 2:50 pm
The debt-laden company, which began operations 25 years ago, grounded its jets on April 17. Its founder and chairman Naresh Goyal stepped down a month before in March in an effort to revive the company.
June 10, 2019 1:48 pm
Lenders consortium, led by IDBI Bank, had approached NCLAT seeking permission to vote against NBCC bid. The voting process started on May 31 and will conclude on Monday (June 10).