From NCLT to upper circuit: The comeback of Alok Industries
The stock was listed on February 27 at Rs 14 and declined to a low of Rs 3.92 on March 31.
Tax sop to be boon for SBI in Yes Bank rejig
SBI’s executive committee approved of this purchase in mid-March.
NCLT approves sale of IL&FS stake in GIFT City to Gujarat govt
A two-member NCLT bench headed by acting president B S V Prakash Kumar allowed...
Canara Bank plunges 6% on Rs 3,259 crore Q4 loss
Kotak Securities said that the lender's losses were primarily on account of higher provisions for staff costs and bad loans. Net non-performing loans, it said, were at a 5-year low.
Companies invoking ‘MAC Clause’ to renegotiate or exit deals
Over half a dozen transactions in the past three months are being reviewed or reworked.
NCLT reserves order against Anil Ambani in a plea filed by SBI
The public sector lender had approached the Mumbai-bench of the National Company Law Tribunal (NCLT) under Section 97(3) of the Insolvency and Bankruptcy Code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional (RP) to assess and submit a report on the assets owned by Ambani.
IL&FS sells 50% stake in GIFT City to Gujarat govt, reduces consolidated debt by over Rs 1,200 crore
As per the resolution framework for IL&FS Group, the offer by GUDCL was placed before the committee of creditors (CoC) of the group for its approval, the release said.
NCLT posts SBI, Anil Ambani case hearing to June 30
Last week, SBI had moved the insolvency court to recover more than Rs 1,200 crore from Ambani under the personal guarantee clause of the bankruptcy law.
NCLT allows Jet Airways to sell office in Bandra Kurla Complex
Jet Airways' insolvency resolution professional Ashish Chhawchharia had moved the NCLT to seek approval to sell its third and fourth floor in Godrej BKC building to clear overseas debt to transfer the title of six aircraft under Export-Import Bank of the US to the corporate debtor, which would help in maximising value of the defunct airline.
SBI takes Anil Ambani to NCLT to recover Rs 1,200 crore
Anil Ambani had given personal guarantee to the loans given to RCom & Reliance Infratel.
NCLT allows changes in payment schedule to the successful bidder on account of COVID-19
The order will set a precedent since lenders and the tribunal have allowed the successful bidder to change the payment schedule after the approval due to pandemic COVID-19 and subsequent lockdown.
NCLT OKs Aircel resolution plan, lenders to take sharp haircuts
Asset reconstruction firm UVARCL was the shortlisted buyer for Aircel's assets and according to people aware, NCLT's Mumbai bench approved the plan but with some modifications. Aircel, which declared bankruptcy in March 2018, for failing to repay debt of Rs 20,000 crore had received claims worth Rs 20,000 crore from lenders and a claim for a similar amount from operational creditors.
NCLT transfers 3 more members with immediate effect
According to a notification issued by the NCLT Registrar on Tuesday, the new list comprises three judicial members.
NCLT refuses petition against India Steel
The National Company Law Tribunal has refused to admit an insolvency petition filed by India Resurgence Asset Reconstruction Company, a joint venture between Piramal Enterprises and Bain Capital, against Indian Steel Corporation, calling it “defective”.
NCLT approves IL&FS stake sale in GIFTCL to Gujarat government
The order said that IL&FS had sought that an amount of Rs 61.84 lakh is excluded as resolution process costs incurred for meeting various expenditures, other applicable taxes from the sale proceeds of the applicant's shareholding in GIFTCL to the Gujarat government.
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