The Gujarat power distribution company had moved Supreme Court saying that neither the National Company Law Tribunal (NCLT) nor the NCLAT had the jurisdiction to stay the termination, which was done as per the clauses of the agreement

The 15 most-indebted non-BFSI companies had a combined debt of Rs 10 lakh crore in FY20, a 15 per cent increase over the previous year, and their troubles seem to be far from over

Era Infra sees no immediate closure even after three years, as litigation and procedural delays slow down the insolvency process

Majority of the claims were submitted by financial creditors having corporate guarantee or charge on shares of special purpose vehicles

The committee of creditors is yet to approve either of the two resolution plans that the Era Infra resolution professional has received so far - the reason being legal disambiguity of the resolution plans submitted

With the post-lockdown economy still to pick up, highly leveraged companies are looking at ways to reduce debt

Of this, 1,604 cases have been settled by the tribunals across the country by finding a new buyer, commencing liquidation, or allowing voluntary withdrawals

More tribunals, more resolution professionals, a higher threshold for the default process to set in from the current level of Rs 1 lakh and streamlining of the appeal process to cut down delays are needed to make the Insolvency and Bankruptcy Code (IBC) more efficient

Irrespective of resolutions, companies going through the insolvency process are seeing large number of direct and indirect job losses

India, the 7th largest hydropower making country in the world, had an installed hydro capacity of around 45,400 MW by end 2018

More than half of India's coal-fired power plant units ordered to retrofit equipment to curb air pollution are already set to miss the deadline

What is the fate of the 12 large NPA accounts referred by the Reserve Bank of India (RBI) to the then newly-implemented Insolvency and Bankruptcy Code (IBC) for resolution?

Besides, Lanco Infratech and Moser-Baer, the other seven firms that will be delisted are - Amar Remedies, Supreme Tex Mart, Samtel Color, Hindustan Dorr-Oliver, Servalakshmi Paper, LML and Hanung Toys and Textiles

Of the 12 big cases, just three companies - Bhushan Steel, Monnet Ispat and Electrosteel Steels - have been sold so far and the court ordered liquidation of Lanco Infratech and ABG Shipyard

The third largest lender had put Bhushan Power & Steel on sale in December 2018 but could not find a buyer

Meanwhile, 64 of these companies (or more than 16%) have received bids which are higher than the liquidation value of their assets under the Insolvency and Bankruptcy Code till March 31, 2019, according to the latest data from the Insolvency and Bankruptcy Board of India (IBBI).

The outstanding dues of the Unity Appliances Ltd are over Rs 153.77 crore, plus interest, from January 5, 2018. The Tamil Nadu-based company manufactures air conditioners and LED and LCD Television.

Briefing media after the meeting of the Cabinet Committee on Economic Affairs (CCEA), Finance Minister Arun Jaitley said approval has been given to an investment of Rs 10,439.09 crore for the 2x660 MW Buxar Thermal Power Project (Buxar TPP) in Bihar.