Adani, NTPC in fray to acquire Avantha’s stressed power plant
This is the first time NTPC, the country’s largest power producer, has bid for any stressed project, while Gautam Adani-led Adani Power is on a buying spree, having recently acquired GMR Infrastructure’s 1,370 mw coalbased power plant in Chhattisgarh for a debt component of Rs 3,530 crore and equity outgo of Rs 1.
Big 4 audit companies scramble for forensic assignments of scam-hit corporates
Players see up to 25% growth in forensic business in past 3 ye...
Top 50 corporates reduce debt by about Rs 60,000 cr in first half of FY20
In the last financial year 18-19, these companies reduced their deb...
Essar resolution to have significant impact on financial ecosystem: Satish Gupta, Essar's Resolution Professional
"The resolution of Essar Steel with realisation of more than Rs 42,000 crore has significant impact on financial ecosystem. With availability of funds and committed additional infusion of Rs 8,000 crore by ArcelorMittal, Essar Steel’s under-utilised productive asset can now operate at its optimal level of production and enhance capacity utilisation," the resolution professional of Essar Steel said.
In a first, IBC process ordered for failing to pay an insolvency services company
The NCLT’s Hyderabad bench has ordered the proceedings at Sri Yadadri Life Sciences (SYLS) for the alleged default in payments to Adroit Financial Services (AFS) for advice given on insolvency resolution and services towards capital structuring and settlement of debt through a one-time settlement (OTS) with its lender.
Jet Airways' creditors decide to seek fresh bids
Earlier this month, the National Company Law Tribunal (NCLT) had directed the CoC to expedite their decision on seeking fresh EoIs in view of new interest being shown for the grounded airline.
Work is on to amend IBC to address cross-border insolvency: M S Sahoo
"There is proposal to amend the IBC to provide for such cases like cross border insolvency," the IBBI chief said.
Indian financial system in Darwinian mode, only fittest lenders survive: Uday Kotak
Kotak said the financial system is in a Darwinian mode as only the fittest lenders are able to survive.
India in a classic Darwinian mode of survival of the fittest: Uday Kotak
We are at a time where clean business and governance is coming to the fore, Kotak said.
No panic on D-Street after 4.5% GDP print; some expect Santa Rally ahead
"I was expecting a GDP growth figure below 4.5 per cent. For me, it’s a slightly better number."
Personal guarantor insolvency under IBC from December 1
According to the Supreme Court’s recent ruling in the Essar Steel case, overturning an order of the National Company Law Appellate Tribunal, claims against a personal guarantor would not extinguish once a resolution plan for the corporate debtor was approved.
Banks recover ₹6,000 crore in Prayagraj sale
Financial creditors took a 52% haircut on their ₹12,500 cr of loan exposure to the company.
Changes in IBBI norms to prevent backdoor entry of ex-promoters in cos under liquidation: Experts
Now, those who were ineligible are barred from being part of any arrangement at the stage of liquidation.
Indiabulls Realty’s western region legal head joins boutique law firm RGM Legal
RGM Legal focuses mainly on structuring, corporate M&A, PE, venture capital and Fintech space and with Shah joining the firm, it will have real estate transaction and dispute resolution practice to cover commercial disputes, insolvency & bankruptcy (IBC) and arbitration amongst other things.
Bad loan sale to ARCs falls in FY19 to Rs 57,508 crore
Recovery rates yielded by major resolution mechanisms except Lok Adalats declined in 2018-19.
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