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ABG Shipyard heads to junkyard as NCLT orders liquidation

Manufacturing

01 May, 2019

ABG Shipyard heads to junkyard as NCLT orders liquidation

A bankruptcy court has ordered liquidation of debt-laden ABG Shipyard Ltd after lenders rejected an offer by the sole bidder ......

CarVal Investors, Arcil get lenders' approval to buy two Uttam Galva units

Manufacturing

24 April, 2019

CarVal Investors, Arcil get lenders' approval to buy two Uttam Galva units

A consortium of US-based distressed assets investor CarVal Investors and Asset Reconstruction Company of India Ltd (Arcil) has moved a ......

Hotel Leelaventure's deal with Brookfield hits a wall as ITC moves NCLT

Consumer

23 April, 2019

Hotel Leelaventure's deal with Brookfield hits a wall as ITC moves NCLT

Cigarette-to-hotels company ITC Ltd has approached the National Company Law Tribunal (NCLT) against debt-ridden Hotel Leelaventure Ltd alleging oppression of ......

Ballarpur Industries unit dragged to bankruptcy court for second time

Manufacturing

17 April, 2019

Ballarpur Industries unit dragged to bankruptcy court for second time

Kotak Mahindra Bank has dragged BILT Graphic Paper Products Ltd to the bankruptcy court after the unit of Avantha group-promoted ......

Fugitive diamantaire Mehul Choksi's Gitanjali Gems heads for liquidation

Consumer

16 April, 2019

Fugitive diamantaire Mehul Choksi's Gitanjali Gems heads for liquidation

Absconding diamantaire Mehul Choksi-promoted Gitanjali Gems Ltd is headed for liquidation after a majority of its lenders decided not to ......

Govt may direct state-run banks on bad debt after court's rejection of RBI rules

Finance

04 April, 2019

Govt may direct state-run banks on bad debt after court's rejection of RBI rules

The government could issue directions to state-run banks to resolve corporate default cases and ensure there is no tampering with ......

NCLT says Sterling Biotech withdrawal a case for re-entry of defaulting promoters

Finance

27 March, 2019

NCLT says Sterling Biotech withdrawal a case for re-entry of defaulting promoters

Hearing the Sterling Biotech case, the National Company Law Tribunal (NCLT) said that withdrawal from proceedings can violate the rule ......

Jyoti Structures bankruptcy resolution back on track as tribunal quashes liquidation order

Infrastructure

26 March, 2019

Jyoti Structures bankruptcy resolution back on track as tribunal quashes liquidation order

A group of investors led by Sharad Sanghi, chief executive officer at Netmagic Solutions, will submit a revised resolution plan ......

Brookfield inks pact to acquire Leela hotels for $576 mn

Consumer

18 March, 2019

Brookfield inks pact to acquire Leela hotels for $576 mn

Canadian investment firm Brookfield Asset Management Inc. has signed an agreement with debt-laden Hotel Leelaventure Ltd to acquire its luxury ......

Tribunal questions lenders' acceptance of settlement offer for Sterling Biotech

Finance

15 March, 2019

Tribunal questions lenders' acceptance of settlement offer for Sterling Biotech

The National Company Law Tribunal has raised suspicion on the lenders’ acceptance of a one-time settlement offer from the absconding ......