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BusinessToday.in
New Delhi, May 22, 2018
Indian defence establishment is working towards developing artificial intelligence-based weapons and surveillance systems to be ready for the wars of the future; one of the objectives of the 270-day deadline to resolve all cases of insolvency under the Insolvency and Bankruptcy Act was to ensure time-bound resolution of cases, however, a spate of legal cases admitted by the courts and their intervention has been a dampener and fugitive fraudster Nirav Modi is now believed to be hiding in London on a Singaporean passport. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.


PTI
May 20, 2018



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).


PTI
May 16, 2018
The move to park about Rs 7,000 crore in an escrow account of State Bank of India (SBI) follows ArcelorMittal's bid for Essar Steel coming in for questioning because of its past shareholding in loan defaulter firm, Uttam Galva Steel.


PTI
May 15, 2018



Nevin John
New Delhi, May 9, 2018
India-born British industrialist Sanjeev Gupta plans to invest $10 billion (Rs 67,500 crore) in the Indian market in the next couple of years, including for buying bankrupt assets in steel and auto.


BusinessToday.In
May 8, 2018
The choice facing the Committee of Creditors (CoC) of the beleaguered Jaypee Infratech Ltd (JIL) today is reportedly between a haircut of Rs 230 crore and one of Rs 2,800 crore, and the ball will likely be passed to the Supreme Court.


PTI
April 29, 2018



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.


PTI
April 17, 2018



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, April 13, 2018
UltraTech's board had earlier agreed to issue a 'comfort letter' to provide the above-mentioned amount in return for 98.43 per cent stake in Binani Cement provided the company came out of insolvency proceedings.


BusinessToday.In
New Delhi, April 10, 2018
Lenders of Binani Cement are meanwhile looking forward to April 13, when the Supreme Court is scheduled to hear Binani Industries' petition.


PTI
April 2, 2018



PTI
April 2, 2018



BusinessToday.In
New Delhi, April 2, 2018
Tightening the noose further, the document states that trusts and the beneficiaries of such trusts will be considered as related parties.


Nevin John
New Delhi, March 29, 2018
ArcelorMittal, one of the two bidders who had submitted the bid in the first round, says it doesn't mind fresh bids.


BusinessToday.In
New Delhi, March 28, 2018
Three days ago, the big news in the Nirav Modi-Punjab National Bank drama was that the Ministry of Corporate Affairs was mulling legal options to try to stall Firestar Diamond's bankruptcy proceedings in the US.


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