Page 2 - Ibc Resolution

NCLT admits application for initiating CIRP against McLeod Russel

Once the world's largest tea producer, McLeod Russel, part of the Brij Mohan Khaitan group company, is now India's largest with about 31 estates

Decoded: What is prepackaged insolvency resolution & how does process work?

The prepackage process for resolution has been popular in Europe and the US over the past decade

Creditors may realise Rs 55,000-60,000 cr through IBC in FY22: Report

The agency believes that there have been some positive outcomes from the presence of the IBC despite the delays that are becoming common.

NBCC submits final bid to buy Jaypee Infra; Suraksha seeks more time

State-owned NBCC on Friday submitted its final bid to acquire Jaypee Infratech Ltd (JIL) while rival Suraksha group sought more time to make the final offer for the debt-laden realty firm

Voting on Suraksha offer for Jaypee Infra deferred; bidders get more time

Committee of Creditors gives Suraksha and NBCC India seven days to file revised bids.

DHFL gets no objection from RBI, files application with NCLT for resolution

DHFL on Thursday said it has received no objection from the Reserve Bank and has filed application with NCLT for submission of the resolution plan of Piramal Capital & Housing Finance. Earlier this week, DHFL had announced Piramal group's resolution plan getting approval from the RBI. Pursuant to the receipt of no objection from Reserve Bank of India as per Insolvency and Bankruptcy Rules, 2019, the administrator of Dewan Housing Finance Corporation Limited (DHFL) has filed an application for submission of resolution plan of Piramal Capital & Housing Finance Limited (PCHFL) with the adjudicating authority NCLT, Mumbai Bench, DHFL said in a regulatory filing. The resolution plan has been approved by the Committee of Creditors (CoC). In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings. It was the first finance company to be referred to NCLT by the RBI using ...

DHFL a test case whose successful resolution is critical for banking sector

Reports suggest a potential recovery of 35 per cent from the bid process compared to an average recovery of seven per cent

Nithia Capital, CarVal Investors complete purchase of two Uttam Group firms

Total consideration Rs 2,000 cr; companies were on RBI's second list of NPAs mandated for resolution under IBC

Videocon lenders, 12 other group companies to meet on Tuesday under IRP

The lenders of debt-ridden Videocon Industries and 12 other group companies will meet on Tuesday under the insolvency resolution process (IRP)

Not a penny to equity holders as DHFL bidders value firm's shares at zero

Investors baffled as DHFL had a market valuation of Rs 941 cr on Monday, with its stock trading at Rs 30 a share even after the company was sent for bankruptcy proceedings

Fresh IBC suspension, pandemic may hit stressed assets resolution pace

Suspension of fresh proceedings under the insolvency law as well as the NCLT switching to virtual hearings seem to have put the brakes on the pace of resolution process for stressed assets

Little relief in sight for RCom lenders 17 months after insolvency action

Insolvency against bankrupt telecom company and two arms restarted last May after NCLAT lifted stay on proceedings; Rs 91,000 crore worth claims have been admitted against the firm.

Path to restart Jet Airways operations tough, uncertain, says expert

He also said that the "terms" accepted by the Jet Airways creditors did not make sense to CAPA

NCLAT rejects plea challenging NCLT's resolution plan of Uttam Value Steel

Uttam Value Steels has an admitted debt of Rs 3,003 crore

IBC faces test again as top court hears Bhushan Power & Steel case

ED objected to the applicability of Section 32A of the Insolvency and Bankruptcy Code (IBC) to the JSW-Bhushan deal

Implementing approved resolution plans amid Covid a challenge for India Inc

Experts point out the basic philosophy of the Code is to refer to the commercial wisdom of the CoC

Resolution professionals latch on to older cases, new restructuring windows

Over 13,000 IBC applications are currently pending in NCLT, where only matters seen as urgent are being heard

Jet Airways: Insolvency resolution process deadline extended till Aug 21

According to a regulatory filing, 69 days of lockdown period from March 24 to May 31 would be excluded for computing the CIRP deadline

Systemic change: Hits and misses of India's bankruptcy reforms code

IBC has had a carrot-and-stick effect - making companies serious about governance and bringing stuck capital back into the economy. It seems to be a work in progress, but the system is surely working

A luxury yacht and 5-year-old firm in middle of an unusual insolvency case

The luxury vessel has been docked on the banks of Hooghly for nearly a year without generating any business for the company