Amtek Auto

Sebi comes out with circular with changes, also tweaks policy to deal with non-cooperating issuers

The Ministry sought to recover funds from former promoters by moving the Chandigarh bankruptcy court last month

Rs 90,000-crore NPAs of 22 firms to be transferred in first tranche

Amtek owes lenders Rs 12,641 cr and was on RBI's first list of NPAs mandated for resolution under Bankruptcy Code. The DVI bid is said to be Rs 2,615 cr, of which Rs 500 cr is upfront cash

Infosys, Wipro, Amtek Auto, GTPL Hathaway and six other firms are slated to release their Q3 numbers today

Sanjeev Gupta acquired a burgeoning UK empire in five years; in India, he has secured a one-million-tonne plant after two years of trying

The issue of personal guarantee of a corporate debtor under Insolvency and Bankruptcy Code has been challenged in various high courts

After an encouraging start, the IBC, launched by the Modi government in 2016, is losing momentum. The first of a 5-part series looks at Amtek Auto's resolution process

Lenders must fulfill conditions that they signed with the auto parts maker, says Vinit Bodas.

While a force majeure clause is common in commercial contracts, in an IBC case, the committee of creditors (CoC) generally doesn't agree to including such a clause in the resolution plan

Bone of contention is long-term lease of ACE Complex Land. Resolution applicant has moved NCLAT, which is likely to start hearing on Thursday against NCLT order

Castex Tech started its resolution process in December 2017 with a debt of Rs 6,000 crore

Three of Amtek group companies, including Castex Technologies, Amtek Ring Gears and Metalyst Forgings are each undergoing separate insolvency resolution process

Court gives RP 21 days to call new bids, CoC 2 week thereafter to decide; to hear the case again on November 5

The Supreme Court, while agreeing to hear the IBBI, said there would be no persecution of Liberty House group for now

NCLAT had cleared Amtek Auto liquidation after no appropriate resolution plans remained for the company

Amtek Auto's total debt stands at Rs 12,603 crore, liquidation value of assets nearly Rs 4,120 crore

Appellate tribunal says CoC, RP free to renegotiate with bidders for improving on original bids

Deccan Value Investor's bid was second highest with a bid of Rs 3,150 crore

NCLAT listed the matter for next hearing on April 22 and said "CoC would not approve any other plan" in between