MUMBAI: The insolvency professional supervising the Alok Industries bankruptcy process has called for fresh bids to resolve the Rs 29,000-crore default in the hope of attracting more bidders for the textile company, said two people with knowledge of the matter. “Alok was the only company among the 12 listed by Reserve Bank of India (RBI)…
The proposals include relaxing the requirement of a minimum 25% public shareholding and the stringent procedures to de-list a stressed company, if that is part of the resolution plan. (Reuters) The Securities and Exchange Board of India (Sebi) will consider a raft of proposals to ease various compliance procedures for listed insolvent companiesespecially with regard…
The tune of Jingle Bells is probably still stuck in your mind in the days after Christmas. But around this time a decade ago it was “jingle mail” that was starting to get attention in the US. Jingle mail is the term for home owners who simply hand the keys to their house back over…
The tune of Jingle Bells is probably still stuck in your mind in the days after Christmas. But around this time a decade ago it was “jingle mail” that was starting to get attention in the US. Jingle mail is the term for home owners who simply hand the keys to their house back…
December 26, 2017: The year 2017 was a watershed year for the Insolvency and Bankruptcy Code (IBC) which was notified in late 2016. The first insolvency petition was filed by ICICI Bank in December 2016. It was foreseeable that this laudable and long-overdue legislation, would undergo its share of trial by fire throughout 2017. In…
MUMBAI — Reliance Communications Chairman Anil Ambanion presented a revised debt resolution plan on Wednesday aimed at reducing the company’s liabilities from 450 billion rupees ($7 billion) to 60 billion rupees by March 2018 by withdrawing the company from the consumer wireless business and unloading assets, including real estate. Close Anil Amban, chairman of Reliance Communications,…
Keeping out wilful defaulters from bidding for stressed assets is not a “moral issue”, but a choice between certainty and uncertainty, IBBI Chairperson M S Sahoo has said. His comments come against the backdrop of the government, through an ordinance last month, barring wilful defaulters from bidding for stressed assets under the Insolvency and Bankruptcy…
Al-Watan newspaper JUSTICE is fundamental to everything in life. We often criticize societys negligence toward alleviating the suffering of the poor by meeting their basic requirements. We have started this criticism several years ago and it did not go waste as we are yielding its fruits day after day. Like we expressed our displeasure and…
Written by Sunny Verma | New Delhi | Published: December 26, 2017 2:47 am More than 500 applications for admission have been rejected, dismissed or withdrawn. Related News Even as the rate of recovery of bad loans has shrunk, the number of cases being filed for corporate insolvency resolution process (CIRP) under the Insolvency and…
Al-Watan newspaper JUSTICE is fundamental to everything in life. We often criticize societys negligence toward alleviating the suffering of the poor by meeting their basic requirements. We have started this criticism several years ago and it did not go waste as we are yielding its fruits day after day. Like we expressed our displeasure and…