Oaktree has appointed receivers to the fallen group, enforcing its rights under the note facility after Blue Sky failed to reach its minimum required recurring earnings for the first quarter. The administration is limited to the group and does not extend to its Alternative Access Fund along with its other subsidiaries. Blue Sky last week…
Innumerable litigations, defiant promoters, failing sectors and over-burdened National Company Law Tribunals (NCLTs) have negatively impacted corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) over the past two years, according to investment information and credit rating agency ICRA. Still, the process has chugged on, albeit at a slower pace than envisioned. Till…
Photos are for representational purposes only. Loading… Contemporary Delhi: Debt-ridden Essar Steel has registered an EBITDA (earnings sooner than curiosity, tax, depreciation and amortization) of Rs 4,229 crore in some unspecified time in the future of its Company Insolvency Resolution period (over 600 days).In an affidavit filed sooner than the National Company Legislation Appellate Tribunal…
New Delhi: Debt-ridden Essar Steel has registered an EBITDA (earnings before interest, tax, depreciation and amortisation) of 4,229 crore during its Corporate Insolvency Resolution period (over 600 days). In an affidavit filed before the National Company Law Appellate Tribunal (NCLAT) last week, the resolution professional said the company earned 4,000 crore from its operations between…
New Delhi, May 19 Debt-ridden Essar Steel has registered an EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 4,229 crore during its Corporate Insolvency Resolution period (over 600 days). In an affidavit filed before the National Company Law Appellate Tribunal (NCLAT) last week, its resolution professional has informed that the company earned Rs…
New Delhi [India], May 19 (ANI): Innumerable litigations, defiant promoters, failing sectors and over-burdened National Company Law Tribunals (NCLTs) have negatively impacted corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) over the past two years, according to investment information and credit rating agency ICRA. Still, the process has chugged on, albeit at…
The Copy of Order passed by the National Company Law Tribunal (NCLT), Kolkata Bench on 09.05.2019 in the matter of Company Petition (IB) No. 628/KB/2018 alongwith CA (IB) Nos. 366/367/KB/2019 (RITESH MORE Vs MARSONS LIMITED)is enclosed herewith. Further more, as per Courts direction a Monitoring Committee has been formed to oversee the effective implementation of…
With just over ten years until 2030, developing countries face important and complex challenges around the Sustainable Development Goals (SDGs). Not least of which is how to finance the investments needed to achieve them. Estimates suggest that developing countries face a $2.5 trillion annual financing gap to meet the SDGs. Other studies conclude that the…
Elizabeth Warren. Photo: @ewarren/Twitter November 2020 may still be a year and a half away, but the presidential election cycle is in full swing. What feels like approximately 400,000 Democrats are already fighting for the nomination, and cable networks have already been airing town halls with various potential candidates. One of the many (and we…
Highlights: Company begins to recognize initial revenues from April 1 management contracts New CEO initiates process to accelerate strategic transformation and facilitate financial restructuring Announces intent to reorganize around three core business divisions with performance measured at division-level EBITDA Implements Board and management changes in support of restructuring process; Transitions CEO responsibilities from Founder James…