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Total 17 results found. Search for [ IBC deadline ]

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BusinessToday.In
September 12, 2018
Defaulting companies in the power sector as well as some sugar, shipping and textile companies that had seemed destined for bankruptcy court under the RBI's new norms on stressed assets got a last-minute breather from the Supreme Court yesterday.


BusinessToday.In
New Delhi, September 7, 2018
Numetal's first bid was rejected due to the 25% share owned by Rewant Ruia, the son of Essar Steel founder Ravi Ruia, since he was deemed a related party.


BusinessToday.In
New Delhi, July 25, 2018
A Boston Consulting Group report reveals that economies like US, UK, Singapore, Hong Kong, Germany and Japan have a recovery rate of 80% and a resolution time frame of under one-and-half years. India has posted a sub-par recovery rate of 26.4% and an average resolution time of 4.3 years.


Nevin John
New Delhi, June 16, 2018
Under the Insolvency and Bankruptcy Code, the sale process has almost been completed in three cases -- Bhushan Steel, Electrosteel Steels and Monnet Ispat and Energy. There is less clarity in the other cases when the 270 day timeframe for resolution ends around now.


BusinessToday.In
May 16, 2018
Last week, Essar Steel's Committee of Creditors (CoC) told both suitors, ArcelorMittal and Numetal, that their bids would only be considered if they repaid all pending dues owed by people/entities connected to them within a week.


BusinessToday.In
May 16, 2018
Tata Steel will implement the resolution plan through its wholly-owned subsidiary Bamnipal Steel Limited (BNPL).


Nevin John
April 20, 2018
It's tough to conclude the resolution process in at least half of the 12 big loan defaulters within the 270 days time frame allowed under the Insolvency and Bankruptcy Code (IBC).


BusinessToday.In
New Delhi, April 20, 2018
Both the petitioners, Numetal and ArcelorMittal, welcomed the verdict for the prize is a big one, despite the fact that Essar Steel boasts the third biggest debt pile (over Rs 44,000 crore) among the initial 12 companies identified by the RBI for insolvency proceedings.


BusinessToday.In
April 16, 2018
RIL-JM Financial ARC was the sole bidder and its initial offer of Rs 4,950 crore on April 12 had reportedly been rejected by 30 per cent of the CoC on the grounds that it was too low.


BusinessToday.In
New Delhi, March 21, 2018
Last month, the RBI completely revamped the NPA resolution framework. It not only ditched all its past schemes for dealing with bank bad loans but also implemented stricter timelines for implementation of resolution plans.


PTI
New Delhi, March 16, 2018
Numetal, an SPV floated by the PE arm of Russian lender VTB Bank andRewant Ruia, a Ruia family member, has claimed that its bid for EssarSteel has \"solid legal backing\" and if need be, \"the other shareholderswill buy out Rewant's\" 25 per cent stake in the company


Prosenjit Datta
New Delhi, March 13, 2018
As the 12 big cases referred under the Insolvency and Bankruptcy Code (IBC) to the National Companies Law Tribunal (NCLT) approach the 180 day deadline for resolution


Nevin John
New Delhi, February 26, 2018
When the UK-based Liberty House questioned the rejection of its bid for Bhushan Power and Steel, the promoter holding firm of Binani Cement challenged the liquidation value set by Interim Resolution Professional (IRP).


Dipak Mondal
New Delhi, January 30, 2018
The government has been reposing a lot of hope in the Insolvency and Bankruptcy Code (IBC) to address the issue of non performing assets of the banks.


Prosenjit Datta
New Delhi, December 11, 2017
For the big 12 debtors that the banks referred to the NCLT at the Reserve Bank of India's (RBI) behest, there is still a fair amount of interest from bidders.


BusinessToday.in
New Delhi, December 11, 2017
Helped by three products launched in 2017, the Hexa, Tigor, and Nexon and the Tiago, Tata Motors has zipped past Honda in domestic volumes sold


Anand Adhikari
Delhi, August 4, 2017
Insolvency professionals backed by banks are taking over the headquarters of some of the biggest corporate defaulters. Their success will be key to solvingthe NPA problem.


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