INSOLVENCY: A new way to acquire an Indian Company but not everyone is welcome – Brought to you by Shardul … – Legal Business Online
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Congress alleges PM Modi not allowing GSPC to be declared bankrupt – Times of India
NEW DELHI: Congress on Monday alleged that government-run Gujarat State Petroleum Corporation (GSPC) owed over Rs 12,000 crore in loans to various banks, and accused the Narendra Modi-led BJP government of trying to prevent the company from being declared bankrupt. Congress MP and spokesperson Jairam Ramesh alleged that a Rs 20,000 crore scam had been…
Debtors distress for Wyndham – Star Weekly
Wyndham recorded the highest number of debtors entering personal insolvency within the greater Melbourne area in the June quarter this year. There were 93 personal insolvencies recorded in Wyndham between April and June, according to the Australian Financial Security Authority. That compares with 80 personal insolvencies between January and March. Elsewhere in the west, Melton…
Power companies with Rs 1.7 crore stressed loans face insolvency proceedings – Times of India
MUMBAI/NEW DELHI: Private power companies defaulting on an estimated Rs 1.7 lakh crore loans to 34 projects ran out of time to avoid insolvency proceedings on Monday, with the Allahabad high court refusing to grant interim relief. The court’s decision leaves no other option for lenders but to initiate insolvency proceedings according to the Reserve…
NPA account: Allahabad High Court refuses to give interim relief to … – Economic Times
NEW DELHI: The Allahabad High Court declined to give private power companies any interim relief on the Reserve Bank of India (RBI) circular that tightened bad loan norms on Monday, the deadline for finalising resolution plans for the stressed assets. The court suggested the government could use a special dispensation that has never been used…
China’s Sanan Optoelectronics in Talks to Buy Israeli Communication Chips Company ColorChip – Caixin Global
(CTech) China’s chip designer and manufacturer Sanan Optoelectronics Co. Ltd. is in talks to acquire Israel-headquartered communication chips company ColorChip Ltd., according to people familiar with the matter. The deal discussed values the latter at around $300 million, the people familiar with the matter said. Based in Xiamen City in China’s Fujian province, Shanghai-listed Sanan…
Modi government protecting GSPC from being declared bankrupt: Jairam – Business Standard
Citing an RBI notification, Congress leader Jairam Ramesh on Monday demanded that the SBI should declare Gujarat State Petroleum Corp (GSPC) bankrupt and said the company owed Rs 12,000 crore to several banks. He accused the Modi government of trying to protect the company from being declared bankrupt. Ramesh said that on February…
Modi govt putting ‘pressure’ to stop GSPC from being declared bankrupt: Cong – Business Standard
The Congress today claimed that public-sector Gujarat State Petroleum Corporation (GSPC) owes Rs 12,000 crore in loans to various banks, and accused the Narendra Modi government of trying to prevent the company from being declared bankrupt. Senior Congress leader Jairam Ramesh claimed at a press conference that a Rs 20,000-crore scam has come to…
Indata declared bankrupt – Warsaw Business Journal
Warsaw District Court has declared the WSE-listed IT company Indata bankrupt. The creditors now have 30 days to submit their claims (if they were not disclosed in the proper registry). Among the companys debt are two series of bonds issued late last year worth PLN 1 million each. Indata is a holding of IT companies.…
PM Narendra Modi government putting ‘pressure’ to stop GSPC from being declared bankrupt: Congress – Moneycontrol.com
The Congress today claimed that public sector Gujarat State Petroleum Corporation (GSPC) owes Rs 12,000 crore in loans to various banks, and accused the Narendra Modi government of trying to prevent the company from being declared bankrupt. Senior Congress leader Jairam Ramesh claimed at a press conference that a Rs 20,000-crore scam has come to…