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Total 29 results found. Search for [ bankruptcy deadline ]

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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.

Anilesh S Mahajan
New Delhi, September 5, 2018
Thirty-four stressed power sector accounts that defaulted on Rs1.5 lakh crore worth of dues are now before the National Company Law Tribunal - yet again.
New Delhi, August 27, 2018
If the government of India's new defence procurement plan takes off, it will be a huge boost for Make In India; despite Kerala's worst floods in over a 100 years, about 40 per cent of 125 districts in the southern states of India have reported deficient rainfall; and sixty more companies will be referred for insolvency and bankruptcy as the deadline for their resolution expired today. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.

August 26, 2018
The RBI circular asks banks to identify projects with even a day's default as stressed assets, and conclude resolution proceedings in 180 days. The circular came into effect on March 1 and the 180-day deadline concludes on August 27.

Anand Adhikari
New Delhi, August 6, 2018
It has not given bankers the realisations they had hoped for. Now the government has unveiled a new approach even while they are modifying the act.
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.

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

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.

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.

April 29, 2018

April 17, 2018

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.

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.

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.

April 2, 2018

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.

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.

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

New Delhi, March 7, 2018
India's state-run banks - already bruised by the sprawling Punjab National Bank fraud case and soaring provisions for bad loans - are facing much higher losses on their bond holdings, said brokerage firm Credit Suisse.
March 7, 2018
UltraTech Cement approached the bankruptcy court questioning the rejection of its bid for Binani Cement Ltd.

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