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NICCO INSOLVANCY
Bandhan Employees’ Welfare Trust and Angshuman Ghosh together buy a 25% stake in Nicco Parks & ResortsThey acquired the shares for Rs 35.5 crore from Nicco Corporation, the insolvent cable maker placed for liquidation in 2017 by the National...- SC upholds NCLT order throwing out Nicco promotersRajive Kaul and Pallavi Priyadarshini Kaul were directors of Nicco Parks' board as nominees by Nicco Corp.
- Under IBC, 378 companies owing Rs 2.5 lakh crore sent for liquidationAs many as 378 companies with total creditor claims of Rs 2,57,642 cr have so far been sent into liquidation.
- Market Movers: What changed for D-Street while you were sleepingLet us check out the factors that may bring all the action on Dalal Street on Wednesday.
- Slump sale of Nicco Corp fails, assets are put on bloc separatelyThe lenders with a cumulative exposure of Rs 325 crore in Nicco Corp had to take about 40% haircut going by the reserve price of Rs 232 cro...
- Nicco Corporation's liquidation: Lenders, workmen may have to accept huge haircut on claimsBanks including State Bank of India has non-performing loans of Rs 325 crore while 650 workmen have about Rs 14 crore admitted claims.
- NCLT orders liquidation of Nicco as recast failsThe NCLT's Kolkata bench passed the order Tuesday as lenders led by State Bank of India rejected the debt resolution plan prepared by the c...
- About 400 workers to lose jobs as NCLT puts Nicco Corporation under liquidationNicco Corporation had 400 workers engaged at its two facilities at Shyamnagar in West Bengal and at Baripada in Odisha.
- MBL Infra promoters may infuse Rs 50-100 crore to escape liquidationRBL Bank had dragged the once sought-after road builder to the NCLT for failing to repay a loan.
- Nicco Corporation faces liquidation as lenders reject revival planIf NCLT passes order for liquidation, stakeholders and lenders of the Kolkata-based firm may get a month’s time to submit their claims.
- Innoventive gets 3 months to fix debtThe company manufactures steel tubes and auto parts for various large auto companies.
- Will Innoventive Ind see the first light of insolvency resolution?If the company fails to resolve the debt problem in the next three months with banks taking a haircut and promoters bringing in equity, it ...
- Nicco Corporation gets 90 days more for debt resolutionNicco was one of the first few companies to begin debt resolution after the introduction of the Insolvency and Bankruptcy Code (IBC) in 201...
- Lenders ask Nicco to rework recast planAccording to IBC rules, the powers of the board of the company cease on the appointment of a resolution professional.
- Lenders tell Nicco Corporation to rework resolution planThe committee of creditors for Nicco has agreed to seek a three month extension, reflecting a failure in completing resolution within the s...
- Insolvency board registers seven casesICICI Bank’s application for insolvency resolution against Innoventive was the first to be registered by the Board.
- New era: Insolvency resolution begins for seven Indian companiesICICI Bank’s application for insolvency resolution against Innoventive was the first to be registered by the Board.
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