Kochhar had on November 30 moved the Bombay HC challenging "termination" of her employment by ICICI Bank which also denied her remuneration and clawed back all the bonuses and stock options between April 2009 and March 2018 for her alleged role in granting out of turn loans worth Rs 3,250 crore to the Videocon Group which benefitted her husband Deepak Kochhar.
“The company had preferred an appeal before NCLAT challenging certain portions of NCLT orders, and the judgment on the same has been pronounced on December 4, 2019, allowing the said appeal of JSW,” JSW Steel said in a notification to the stock exchanges on Thursday.
NBCC has advanced the completion date to 42 months from 48 earlier and has also increased the land offered to lenders by 100 acres to 1,526 acres. It has also proposed to increase the concession agreement of Yamuna Expressway by 10 years. The final voting of the committee of creditors (CoC) is likely to take place on December 11.
Kochhar has filed a petition against ‘purported termination’ and denial of the agreed remuneration by ICICI Bank.
A dedicated bankruptcy court has accepted the resolution plan for the revival of Ricoh India, the largest player in printing and document solutions.
There's no slowdown for lawyers: In just the past two years, the legal sector's fee income has jumped by 62%.
The foreign investor has offered to put in around Rs 900 crore to revive the company, which owed more than Rs 7,700 crore to its financial and operational creditors. The company’s lenders had approved the plan earlier this year, with 73% of them based on the outstanding debt voting in favour of Royale Partners.
Bawa had also allegedly transferred nearly Rs 1.14 crore from his account despite a court order restraining him and capping his withdrawals at Rs 2 lakh per month.
These ‘ghost accounts’ are suspected to have been operated by entities with the knowledge of arrested bank officials, sources said. These accounts allegedly belonged to the Abchal Group, loans to which have turned bad, saddling the bank with a Rs 300 crore liability. Not much information seems to be publicly available on the Abchal Group or its promoters.
Independent directors fear that they may be implicated in a fraud even in cases where they have no visibility as independent directors are increasingly held personally liable for actions of promoters and management, experts said. Many even take legal opinion before taking a stand at board meetings as a safeguard
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