INTERCONTINENTAL BROADCASTING CORPORATION
NCLAT asks investigative agencies to clarify over JSW Steel's immunity in BPSL matter
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya asked the agencies to file their reply affidavits by January 20 stating whether after insertion of section 32 A in the Insolvency and Bankruptcy Code (IBC) last month, JSW Steel has immunity from the alleged fraud committed by the previous BPSL managemet.
Economic slowdown hits jobs sector: SBI report
India is projected to create 16 lakh less jobs in FY20, according to a SBI research report.
NCLAT seeks clarity from govt, agencies on JSW Steel immunity
ED had in October last year attached Bhushan Power and Steel’s Rs 4,025-crore w...
IL&FS plans equitable distribution of sale proceeds to creditors
Uday Kotak-led board has also proposed to release 55 group firms from moratorium
Liquidation process: Secured creditor cannot sell assets to entities ineligible for insolvency plan
The Insolvency and Bankruptcy Code (IBC) provides for time-bound and market-linked resolution process for stressed corporates.In case the resolution process does not materialise, then the entity goes for liquidation. An official release on Tuesday said the IBBI has notified changes to liquidation process regulations.
Bad loan provisioning may swell by Rs 30,000 crore in Q3
DHFL, Reliance Home Finance, KKR-backed CCD and CG power could add to the woes of Indian banks .
Complete Alok Industries takeover: SBI to RIL
In March 2019, the Ahmedabad bench of the National Company Law Tribunal (NCLT) had approved the sole RIL-JM Financial ARC bid for Alok for Rs 5,050 crore. RIL wants to raise about Rs 4,550 crore through bank loans while infusing Rs 500-crore equity in the company.
The ‘headline-making’ judge: Of Tatas, Tagore, God and law
Meet NCLAT's Justice Sudhansu Jyoti Mukhopadhaya, whose Mistry ruling will soon be heard by the SC.
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 years even as strict regulatory action hits audit operations.
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 debt burden by about Rs 43,000 crore.
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.
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.
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.
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.
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