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ROLTA INSOLVENCY
Longevity of partners matters most in a Joint Venture: Tata Trusts Chairman Noel TataNoel Tata highlighted partner chemistry as key to successful joint ventures. He also outlined Tata Trusts' future plans for institution-bui...- NCLAT rejects DoT's 469-crore claim appeal in Rolta insolvency; upholds resolution planThe NCLAT has officially dismissed the Department of Telecommunications' (DoT) appeal against Rolta India's resolution plan, stating it has...
- Bankruptcy court clears Ashdan Properties’ acquisition of military-focused Rolta IndiaThe National Company Law Tribunal has approved Ashdan Properties' acquisition of Rolta India. Rolta India faced liabilities exceeding Rs 14...
- Banks can flag fraud despite IBC shield: NCLTThe National Company Law Tribunal (NCLT) has ruled that a moratorium under the IBC doesn't prevent banks from classifying accounts as fraud...
- Jai Corp's Virendra Jain, son acquire Kamachi Industries for ₹487 croreJai Corp's vice chairman Virendra Jain and his son Ankit Jain have acquired Chennai-based steel company Kamachi Industries for ₹487 crore. ...
- NCLT allows rebids in Rolta, opens door for PatanjaliPatanjali had pleaded with the NCLT to consider its offer late last month. Rolta is a defence focussed software company which was admitted ...
- Jaicorp’s vice chairman Virendra Jain emerges highest bidder for Kamachi IndustriesKamachi Industries defaulted on Rs 2,200 crore of loans granted by a consortium of five public sector banks. The company makes thermo-mecha...
- Pune realtor Ashdan's bid tops 8 offers for debt of Rolta IndiaPune-based real estate developer Ashdan Properties emerges as the highest bidder to take over the ₹14,000 crore debt of Rolta India with a ...
- Nine bidders submit plans for Rolta India which owes Rs 14,000 crorePeople aware of the development told ET that resolution plans have come from Rashmi Metaliks, United Biotech, Real Value Infotech Projects,...
- Rolta India unit lands in bankruptcy court"We are of the considered view that the operational creditor has been able to establish the existence of an operational debt and its defaul...
- Rolta India lenders invite fresh revival bidsThe exchange filing stated that the plan proposed by the sole resolution applicant was rejected by the CoC with 87.41% dissent and now it i...
- Rashmi Metaliks submits resolution plan for RoltaSecured creditors have an exposure of ₹7,086 crore to Rolta. The lenders are scheduled to meet on Wednesday to evaluate the Rashmi offer. T...
- A dozen foreign and local entities express interest in Rolta insolvencyThe resolution professional, Mamta Binani, received 12 expressions of interest (EoI) which included eight companies, one Singapore-based fu...
- NCLT admits Union Bank's insolvency plea against RoltaUnion Bank had approached the bankruptcy court in February 2020 after the Mumbai-based company defaulted on dues of over ₹1,413 crore to th...
- NARCL gives binding offer of Rs 600 crore for Rolta's local debtPromoted by Kamal Singh, Rolta India has an outstanding due of ₹5,712 crore with banks and senior notes (overseas borrowings) of ₹3,382 cro...
- View: Delay in implementing cross-border insolvency law is detrimental to Indian creditorsHere's a case for early implementation of cross-border insolvency law in India. All professionals in the field have been advocating introdu...
- NCLT dismisses insolvency resolution withdrawal application of Rolta India promotersOne of Rolta India’s employees had filed a petition under CIRP at the Mumbai bench of the National Company Law Tribunal (NCLT) after the co...
- For 9 quarters, HNIs are gung-ho on 22 smallcaps, including bankrupt firmsThis rich investor class is usually known for higher risk-taking ability than retail investors.
- LIC a big investor in many companies in bankruptcy processLIC has been an investor in several companies which are in the list of applications admitted by NCLT under the Insolvency and Bankruptcy Co...
- How effective is PM Modi’s drive to clean banks? RCom’s default will tellIt failed to pay a coupon on 2020 dollar notes before the expiry of a grace period on Monday.
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