Any move on Facor liquidation only after NCLT ruling – Economic Times

KOLKATA: Any move to liquidate Facor, one of Indias oldest producers of ferro alloys undergoing insolvency resolution, can be implemented only after the National Company Law Appellate Tribunal (NCLAT) rules on Facors appeal against an NCLT Kolkata order for initiation of bankruptcy resolution process. Facors committee of creditors (CoC) rejected all resolution plans and conveyed…

Supreme Court to hear Binani Cement’s plea for out-of-court settlement – Livemint

Binani Cements lenders have asked for necessary permissions to be obtained before they proceed with the settlement. Photo: Mint New Delhi: Binani Cement Ltd moved the Supreme Court on Monday seeking permission for an out-of-court settlement and end insolvency proceedings against it. The companys lenders have asked for necessary permissions to be obtained before they…

Linc Energy found guilty of serious environmental harm at controversial UCG plant – ABC Online

Gas company Linc Energy has been found guilty of causing serious environmental harm at its underground coal gasification (UCG) plant on Queensland’s western Darling Downs. Linc Energy was charged with five counts of wilfully and unlawfully causing environmental harm between 2007 and 2013 at Chinchilla. The corporation pleaded not guilty to the offences at…

Amending IBC: Need clarity how home buyers will be protected, says expert – Business Standard

Need clarity how home buyers will be protected The recommendations of the Insolvency Law Committee appointed by the Ministry of Corporate Affairs if accepted will give a fresh boost to the Insolvency and Bankruptcy Code 2016. In many of the companies where the Corporate Insolvency Resolution Process (CIRP) has been initiated, liquidation process has…

ArcelorMittal vs Numetal: NCLT to pronounce judgement no later than Apr 12 – Business Standard

Having concluded hearing from all the parties in the Essar Steel insolvency case, the Ahmedabad bench of National Company Law Tribunal (NCLT) is likely to pronounce the order no later than April 12. On Friday, legal counsels of VTB-backed Numetal, ArcelorMittal, resolution professional (RP) and Essar Steel’s Committee of Creditors (CoC) presented their concluding…