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UV ASSET RECONSTRUCTION
SC rejects insolvency plea against ECLThe Supreme Court has dismissed appeals by UV Asset Reconstruction Co and Electrosteel Castings Ltd (ECL), upholding a NCLAT ruling. The ap...- Supreme Court rejects Bharti companies' pleas on Aircel paymentsSeeking a clarification of the SC's January 3 order that asked them to pay Aircel Rs 112 crore, the Bharti entities told a Bench led by Jus...
- NCLAT approves settlement plan for Asian hotelsThe promoters, who operate the Hyatt Regency hotel near Mumbai airport, offered to pay the entire claims of lenders, trade creditors, emplo...
- NCLT allows Reliance Communications to substitute its resolution applicantRcom had changed its resolution applicant to UV Stressed Asset Management Private Limited (UVSAMPL) from the original UV Asset Reconstructi...
- Income Tax Dept searches Alchemist and UV ARCs for suspected tax evasionThe Mumbai investigation wing of the IT department had in December 2021 had carried out searches on four other ARCs, probing transactions o...
- Finally giving ARCs financial muscleThe revised rules require ARCs to have a minimum net- owned fund of Rs 1,000 crore to qualify as an RA. They should also make additional di...
- RBI's new norms for ARCs may further delay Aircel & RCom debt resolutionsAsset Reconstruction Company of India (Arcil), Edelweiss ARC and government-promoted National Asset Reconstruction Company, which have NOFs...
- Reliance Communications resolution professional seeks buyers for non-core assetsThe winning bidder for RCom, UV Asset Reconstruction Company, and lenders have given in-principle consent to the RP to explore the sale of ...
- Welcome changes to rules for ARCsThe performance of ARCs has been suboptimal. Data shows that banks and other investors could recover only about 14.29% of the amount owed b...
- UV pips Arcil for IFIN loan portfolioUV is offering Rs 370 crore in an all cash transaction to take over Rs 4,300 crore of loans at a 91% haircut from IFIN, beating Arcil's Rs ...
- Regulations must remove the fetters on asset reconstruction companiesAn ARC should not be limited to buying and selling financial securities, but must be free to buy and sell the underlying assets of bad loan...
- State Bank of India seeks meeting with Finance Minister to save Aircel's resolution planThe request from the lead lender to the bankrupt mobile operator comes days after UV Asset Reconstruction Company - which has proposed to b...
- SBI to meet RBI brass on dismissal of UV Asset Reconstruction Co. Ltd bidThe RBI’s opposition to ARCs becoming resolution applicants (RA) could scuttle not just the Aircel plan but that of others such as Reliance...
- Asset reconstruction companies ask RBI to address regulatory gaps between IBC and Sarfaesi ActThis comes after the RBI rejected UV Asset Reconstruction Company’s resolution proposal for bankrupt Aircel on the grounds that ARCs cannot...
- RCom's committee of creditors to meet on MondayUV Asset Reconstruction Company is learnt to have placed a bid of around Rs 14,700 crore, while Reliance Jio has made an offer of Rs 4,700 ...
- NCLT reserves order on resolution plan of AircelIn the resolution plan mentioned in National Company Law Tribunal on Monday, this realisation of Rs 6,600 crore will happen when UVARCL man...
- Lenders may net Rs 20,000 crore: Jio, UV Asset Recast Co top bidders for RCom assetsBankers have named Jio as the preferred bidder for the tower and fibre assets housed in Reliance Infratel, while UVARCL will acquire the sp...
- All or nothing? It's Hobson's choice for Anil Ambani's lendersThe bids have offered very little upfront cash or are unworkable in the current form, said bankers.
- RCom shares rally 6% to hit upper circuitOn the BSE, the stock opened at 69 paise and rose 4.34 per cent to 72 paise apiece.
- UV ARC takes possession of Electrosteel Castings' land at Elavur under SARFAESI ActARC has made the move under the SARFAESI act and the pipes maker has said that it is contemplating legal action to dispute its move.
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