The NCLT observed that the insolvency petition filed by ICICI Bank against infrastructure company was based on the similar facts and documents which the resolution professional (RP) of Era Infra Engineering had rejected in the past

Ruia has challenged the orders of the Ahmedabad bench of the National Company Law Tribunal (NCLT), which on Friday approved the Rs 42,000-crore takeover plan of Essar Steel by ArcelorMittal.

Confirming the development, Punj Lloyd said in a regulatory filing that the company was waiting for the copy of the full order to provide further details.

Data pertaining to BSE 500 constituent stocks reveal that 314 stocks slipped below their face value on February 18, 2019. Among the individual stocks, Adlabs Entertainment, IL&FS Transport, Punj Lloyd, Reliance Naval and Reliance Communication slipped below their face value on the bourses.

The company said there are delays/defaults in repayments of substantial dues to lender. Its current liabilities exceeded its current assets and its net worth has also been eroded as at September 30, 2018.

Evergreening is a practice whereby banks extend even more loans to debt-laden companies to help them repay previous loans and hopefully earn enough revenue along the way to get out of trouble.

Private lender ICICI Bank has dragged infrastructure major Punj Lloyd to National Company Law Tribunal (NCLT) seeking insolvency proceedings against the company under Insolvency and Bankruptcy Code (IBC).

It can be a pure-play `make-in-India' story in the making. Ever since the US has decided to pull out of the historic Paris Accord on Climate Change, the weather for the renewable sector in the country is turning out to be exciting. The reasons are many.

The S&P BSE Sensex was settled at 29,413.66, down 47.79 points while Nifty50 was ended at 9,139.30, 11.50 points lower.

Highway construction in India hits a record high but is still a long way off the governments ambitious target.

The 22nd edition of the Lloyd Business Today Pro Am of Champions 2017, one of India's most prestigious corporate Golf tournaments, was played at the Classic Golf & Country Club.