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JBF BANKRUPTCY
IOC acquires Mercator Petroleum for Rs 148 croreIndian Oil Corporation (IOC) has acquired Mercator Petroleum for about Rs 148 crore in an insolvency proceeding. As per the resolution plan...- Interest compounding pulling down recovery in IBC casesThe addition of penal interest and other charges in stressed accounts have brought down recovery ratios even though recovery of the princip...
- GAIL infuses Rs 2,100 crore in JBF PetrochemicalsGAIL, India's largest gas company, has infused INR 2,100 crore ($283.7m) in JBF Petrochemicals Ltd, a private sector chemical company it ac...
- Bankruptcy court approves Gail India’s resolution plan for JBF PetrochemicalsThe sale of JBF Petrochemicals will equate to a 41% recovery for financial creditors. The resolution professional, Sundaresh Bhat, backed b...
- GAIL to take over debt-laden JBF Petrochemicals in a rare deal for a PSUThe letter of intent was issued on Sunday, following which Gail has to deposit 10% of its bid value or about Rs 200 crore as bank guarantee...
- ONGC-IOC hikes JBF Petro bid over 2-fold, but still trails GailLenders had allowed all three bidders to increase their offers after the first round. MPCI chose not to submit a revised bid, said people i...
- GAIL makes highest bid for JBF Petro at ₹1.8k crGAIL has outbid an ONGC-Indian Oil consortium and the Kolkata-based MCPI, the two other bidders.
- ONGC, Indian Oil to make joint bid for JBF PetrochemicalsET had first reported on May 27 that Reliance Industries, HPCL-Mittal Energy, Jindal Poly Films, Gail, Jindal Power, MCPI Ltd, and a consor...
- JBF Petro lenders extend deadline to get better valuePublic sector companies GAIL and an ONGC-Indian Oil consortium are likely to compete with Reliance Industries, HPCL-Mittal Energy, Jindal P...
- RIL, HPCL-Mittal Energy, Jindal group among JBF Petro suitorsSeparately, 98% of the lenders of JBF Industries exited by selling their loan exposure to CFM ARC last year. Listed JBF Industries does not...
- Lenders invite bids to buy out stressed JBF petrochemicalsIn the process document issued by banks, prospective buyers with a minimum net worth of ₹300 crore and a consolidated group turnover of ₹2,...
- JBF Petro admitted to NCLT after settlement talks with bidders collapseLenders have received separate offers from Reliance Industries, KKR, Edelweiss, Indian Oil Corporation, Dubai based Citax Energy and Assets...
- CFM Asset Reconstruction Company sole bidder for debt laden JBF IndustriesJBF has been marked as a non performing asset (NPA) for many years now and a bid for the company has come amid a surge in commodity prices ...
- BoB-led lenders, JBF Industries to sign inter-creditor pactBank of Baroda had filed an insolvency resolution petition against the maker of polyester-based products at the Ahmedabad bench of the Nati...
- JBF Petro dragged to NCLT as KKR deal falls throughBoth these conditions have not been met, stalling the KKR infusion.
- RBI deadline ends: Many power(less) plants may fall into bankruptcyNearly 40 cos have defaulted on loans of more than Rs 2K-cr but escaped getting into the resolution process.
- Lenders will have 15-days to resolve the stressed accounts that come within RBI's Feb 12 circularThe general consensus among bankers and analysts is that majority of the cases would be referred to bankruptcy court due to lack of unanimi...
- Axis to sell 12 NPA accounts to ARCsThe total loans on the block is about Rs 1,000 crore and include large borrowers.
- JBF Industries rallies 5% on likely capital infusionAll lenders have to agree to the KKR deal for the restructuring plan to go through.
- KKR to throw another lifeline to JBF IndustriesAll lenders have to agree to the KKR deal for the restructuring plan to go through.
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