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BANKRUPTCY ANNULMENT
Lalit Modi apologises for 'biggest fugitives' remark, calls it 'misconstrued' after video with Vijay Mallya goes viralIPL founder Lalit Modi has apologized for his remarks about being a fugitive. He stated his comments were misconstrued. Modi and Vijay Mall...- Vijay Mallya slams Indian banks, says they should be ‘ashamed’ over recovery transparencyFugitive businessman Vijay Mallya has criticized Indian public sector banks for allegedly withholding details of asset recoveries. He state...
- Vijay Mallya discontinues bankruptcy annulment application in UKVijay Mallya has stopped his attempt to cancel a UK bankruptcy order. This allows the Trustee in Bankruptcy to continue seeking assets. The...
- Bhushan Power creditors weigh legal options after SC scraps JSW Steel dealBhushan Power & Steel's creditors, including SBI and PNB, are evaluating legal options after the Supreme Court overturned JSW Steel's resol...
- Vijay Mallya claims banks have recovered Rs 14,131 crore in case, double debt he owedIndian banks have recovered assets worth Rs 14,131.6 crore linked to Vijay Mallya, surpassing the Debt Recovery Tribunal's 2017 award. Mall...
- Vijay Mallya challenges bankruptcy proceedings in London HC, seeks annulmentVijay Mallya is seeking an annulment of a bankruptcy order by Indian banks in English courts following Finance Minister Nirmala Sitharaman'...
- Govt calls off strategic sale of helicopter service provider Pawan HansIn April last year, the government had decided to sell Pawan Hans for Rs 211.14 crore to Star9 Mobility, a consortium of Big Charter Pvt Lt...
- Supreme Court declines to stay NCLAT order to hold second round of auction for RCap assetsThe Supreme Court on Monday declined to stay the National Company Law Appellate Tribunal's (NCLAT) order to hold a second round of auction ...
- Supreme Court agrees to hear Torrent's appeal against fresh auction of Reliance CapitalRCap's committee of creditors (CoC) is scheduled to conduct the second round of auction next Monday. However, the CJI orally said they may ...
- Sri Lankan PM Wickremesinghe makes special reference to India while advocating more powers to ParliamentIn his special televised statement on the current constitutional reforms, Wickremesinghe said there is a need to change the structure of Pa...
- Essar Steel: Mittals seek immunity from probesWorries stem from BPSL case, where ED attached assets of the company after it was taken over by JSW Steel.
- Reach consensus on Bhushan Power assets, NCLAT asks ED, MCAThe Ministry of Corporate Affairs and the Enforcement Directorate have locked horns over attachment-of-assets issue of Bhushan Power and St...
- NCLAT asks ED to release BSPL assets, stays Rs 19,700-cr sale to JSW SteelNCLAT says agency’s move to seize properties without any jurisdiction undermines IBC.
- Videocon requests NCLT to include overseas oil assets in insolvency processThe move comes after a consortium of lenders led by the SBI have invited bids for the group's Brazilian and Indonesian assets via ads.
- NCLT approves Dhanuka Lab’s Rs 1,116 crore plan to buy debt-hit Orchid PharmaA consortium of 24 banks has lent a total of over Rs 3,200 crore to the drug maker and the lenders will be taking a haircut of around 65%.
- NCLAT annuls voting on NBCC’s Jaypee bidTribunal rules on IDBI plea for stay on the process, asks for fresh voting on May 31.
- NCLAT annuls lenders' voting on NBCC's bid to acquire Jaypee InfratechThe appellate tribunal also allowed the Committee of Creditors (CoC) to renegotiate on NBCC's bid by May 30.
- ET View: Repo rate cut welcome, but rigidity and constraints remainRBI did well to reiterate its backing for the process of resolving bad loans under the Bankruptcy Code, notwithstanding the SC's annulment ...
- NCLAT turns down Tata's plea to bid for Bhushan Power and SteelThe asset has been hotly contested with JSW submitting a bid higher than that of Tata's and Liberty House much later in the process.
- JSW Steel, promoters acquire around 88% stake in Monnet IspatMIEL had recently said the insolvency resolution plan approved by NCLT was completed under which JSW Steel provided a working capital advan...
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