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SUMIT BINANI
NCLT okays JSW Energy's buyout of KSK MahanadiThe NCLT Hyderabad has approved JSW Energy's revival plan for the bankrupt KSK Mahanadi Power Company, which has liabilities exceeding ₹32,...- UPPCL's plea may delay KSK Mahanadi resolution processThe Uttar Pradesh Power Corp has filed a writ petition to consolidate insolvency proceedings of KSK Mahanadi and its subsidiaries, potentia...
- KSK Mahanadi lenders may ask NCLT to speed up firm's sale processOn February 6, a requisite majority of KSK Mahanadi lenders passed a resolution to appeal to the National Company Law Tribunal (NCLT) to va...
- Jindal Power offers $1.68 bln for distressed coal-based power plant, say sourcesJindal Power has submitted a bid for the distressed KSK Mahanadi project in Chhattisgarh, a coal-based power project that is being eyed by ...
- Lenders confused over the status of non-admitted IBC casesThe government on March 24 raised the threshold for invoking IBC proceedings to Rs 1 crore from Rs 1 lakh, to prevent triggering of insolve...
- Resolution professionals for Ballarpur Ind, KSK namedLenders have appointed resolution professionals (RP’s) to run the insolvency proceedings of Ballarpur Industries Limited (BILT) and KSK Mah...
- Liberty falters, suitors line up for Adhunik MetaliksKalyani Steel, Maharashtra Seamless and Shyam Sel & Power have shown interest in the company that owes Rs 5,371 crore to banks.
- Lenders accept misra & sons’ bid for Orissa ManganeseThe others are Zion Steel, Adhunik Metalliks and Adhunik Alloy & Power. Ghanashyam Misra will retain debt of Rs 150 crore in the mining uni...
- Srei Infra’s Rs 215-cr offer for Adhunik Alloy disqualifiedSrei Infrastructure had bid with three other applicants for Adhunik Alloy, one of the four companies of Adhunik group facing bankruptcy pro...
- Monnet Ispat CoC approves AION-JSW Steel plan by 98.97% favourable votingFollowing a CoC meeting that was held on April 7 in which the resolution applicant presented the resolution plan, the same was put through ...
- Adhunik group company gets new life after NCLT orderThe corporate borrower has a mining lease at Patmunda Manganese Mines, which helps the company being run as a “going concern”, a key factor...
- Three Adhunik companies get 90-day extensionThe extension comes at a time when the group companies have collectively received about 20 expressions of interest. However, the companies ...
- NCLT gives extension to Adhunik companiesAdhunik Metaliks, Zion Steel, and Orissa Manganese and Minerals had failed to hammer out a debt resolution plan within the initial deadline...
- Will Gujarat NRE be liquidated in new manner?Staff unions said that their jobs, upon the company’s liquidation, should be saved as Gujarat NRE Coke is a running company and has made op...
- NCLT to deliver final order on NRE Coke’s liquidation todayTribunal has sought company's data on human resources before it takes the final call.
- NCLT seeks employee details from Gujarat NREThe resolution professional, Sumit Binani, has submitted his report to the Kolkata chapter of the dedicated bankruptcy court in the case in...
- Insolvent Adhunik firms get 20 EoIsBinding bids for the resolution plans must be submitted in the next two weeks.
- Will Gujarat NRE go down the drain under Bankruptcy Code?Gujarat NRE Coke received expressions of interest from 4 entities, including Suraksha Asset Reconstruction Company, but none translated int...
- Kolkata-based liquor seller RG Shaw & Sons faces liquidationThe promoters of the company did not submit resolution plans while it defaulted on a loan of about Rs 80 crore, where SBI has 95% exposure.
- Cement cos’ margins under pressure as freight rates riseDespite a rise in prices coupled with a high demand scenario, cement firms are reeling under input cost pressures.
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