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NCLT ERA INFRA
Bankruptcy court approves resolution plan for Era Infra EngineeringThe successful bidder has proposed to pay around Rs 525 crore, where the admitted liabilities of the company is about Rs 22, 200 crore. Bef...- Punj Lloyd founder seeks to reclaim company from bankruptcyPunj Lloyd initially attracted interest from as many as 13 prospective bidders, according to people in the know. These included an arm of t...
- NCLT dismisses ICICI insolvency plea against Hyderabad Ring Road ProjectsHyderabad Ring Road Projects Private Ltd, is a special purpose vehicle related to Era Infra Engineering Ltd and raised an amount of Rs 193....
- NCLT dismisses ICICI Bank's plea to initiate insolvency proceedings against Era InfrastructureThe tribunal held that "on account of duplicacy" of the claims, the petition filed by ICICI Bank "can not be entertained".
- Era infra lenders get more time to assess fresh bidsA consortium of lenders led by Union Bank of India are owed Rs 12,000 cr by the company.
- Era Infra lenders get 215-day breather for insolvency resolutionRelief from NCLT will give creditors time to evaluate fresh bids; other options.
- NCLT directs Era Infra RP to admit ICICI Bank as financial creditorThe resolution professional (RP) had declined to accept ICICI Bank's claims worth Rs 700 crore.
- IFCI to raise Rs 3,000 crore from debt to fund business growthThe company has also lined up some of its non-core fixed assets for sale in 2018-19.
- Financial bids for all 12 large NPA accounts by month-end: SBI"Financial bids of Electrosteel and Monnet Ispat have already come. We hope to receive bids for remaining cases during this month itself," ...
- How companies will change hands to the next generationIn November, through an ordinance, the Centre tweaked the IBC to debar wilful defaulters and those with NPA accounts from bidding for their...
- Bankers review progress of 12 large NPA accounts under IBCThe Internal Advisory Committee (IAC) of the Central bank had on June 13 directed the banks to refer 12 non-performing accounts to the Nati...
- Big financial blow for NPA-laden banks on cards as RBI unlikely to ease provisioning loadThe central bank will soon direct lenders to set aside 50% of bad debt as soon as a referral happens, and 100% if the tribunal orders liqui...
- Defaulters may follow Essar route to block bankruptcyThe steelmaker got a stay on hearings on an insolvency petition moved by a bank. Other large loan defaulters may soon follow in its footste...
- Jyoti Structures first case to be admitted for bankruptcy proceedingsAt the end of March 2017, the company posted a net loss of Rs 730 crore.
- Made ample provisions towards the accounts referred by the RBI to NCLT: Axis BankIn a sudden missive to banks last week the regulator demanded a steep increase in provisioning requirements for loans being referred to the...
- Insolvency resolution: SBI ropes in A&M, EY, Deloitte and PwCThe firms will be paid Rs 1.25-1.50 cr for a term of 6 to 9 months depending on the account size and complexity involved, said involved sou...
- Banks may have to take 60% haircut on 12 largest NPAs: CrisilThe state-run Corporation Bank also last week sent the Delhi-based auto ancillary maker Amtek Auto, which is in default of Rs 14,075 crore,...
- 12 large NPA cases yet to come before IBBI: Chairman MS SahooThe Reserve Bank of India's internal advisory committee had last week sent the list of 12 accounts to bankers for immediate reference under...
- Amtek Auto, Bhushan Steel shares tank up to 20% ahead of bankers meetAccording to the Reserve Bank of India, these 12 accounts owe Rs 2.5 lakh crore to the system.
- Bankers to meet from Monday to decide on large defaultersThe first set of six troubled accounts are Bhushan Steel, Essar Steel, Bhusan Power and Steel, Alok Industries, Amtek Auto and Monnet Ispat...
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