PANDEMIC costs and the high price of cattle have been named as key impacts leading to the placing of prominent live cattle exporters the North Australia Cattle Company, and its southern counterpart, into voluntary administration. The company, once the live export logistics business of Elders, has accumulated debts owed to trade creditors of approximately $3.6…
Centuria Capital Group has launched a new fund that invests solely in a $224 million building in Victoria. The Centuria Government Income Property Fund (CGIPF) will become the new owner of 1 McNab Avenue, a 14-storey building located in Footscray. CGIPF will raise $133 million to fund the transaction. State Trustees, City West Water and…
State-owned NBCC and Suraksha group are in the fray to acquire the debt-laden realty firm Jaypee Infratech Ltd (JIL) and complete over 20,000 pending flats for homebuyers TopicsJaypee Infra|Jaypee Infra insolvency Jaypee Infratech’s Interim Resolution Professional (IRP) Anuj Jain has filed an application before the Supreme Court seeking extension of timeline for completion of its…
Written by Karunjit Singh , Edited by Explained Desk | New Delhi | June 8, 2021 10:15:44 am The Mumbai bench of the Nation Company Law Tribunal (NCLT) on Monday approved the Piramal Groups Rs 37,250 crore bid for debt-ridden Dewan Housing Finance Ltd (DHFL). The NCLT gave a conditional nod to the bid, which…
International air crew were eligible for the vaccine in phase 1A of the rollout. A spokesman for the Department of Prime Minister and Cabinet said: Throughout the pandemic, the Australian government has regularly engaged with key partners in the business sector to ensure we maximise economic and social opportunities as the vaccine rollout progresses. Mr…
As part of his firms latest advice on the topic, Sam Pedley, a partner and award-winning insolvency expert at mfg Solicitors, runs through the main changes and the delicate balancing act of helping businesses to survive. The Corporate Insolvency and Governance Act 2020 brings into effect the most significant changes to UK insolvency law in…
MUMBAI : Financial creditors may realise 55,000-60,000 crore in fiscal 2021-22 through successful resolution plans from the Insolvency and Bankruptcy Code (IBC), credit rating agency Icra has said. The realisation for financial creditors from the resolution of Corporate Insolvency Resolution Process (CIRP) under the IBC declined significantly in FY2021 with a total resolution amount of…
The agency believes that there have been some positive outcomes from the presence of the IBC despite the delays that are becoming common. TopicsIBC|IBC resolution|debt resolution Financial creditors may realise Rs 55,000-60,000 crore in fiscal 2021-22 through successful resolution plans from the Insolvency and Bankruptcy Code (IBC), credit rating agency Icra has said. The realisation…
While its committee of creditors as well as the RBI and the CCI, have given their approval to the resolution plan put forward by the Piramal Group, the plan is awaiting the NCLT TopicsDHFL|Housing Finance|NCLT Mortgage lender Dewan Housing Finance Limited (DHFL) has reported a net profit of Rs 97 crore on a standalone basis…
Dewan Housing Finance Ltd (DHFL) on Sunday reported widening of its FY21 consolidated net loss to Rs 15,051.17 crore as compared with a loss of Rs 13,426.85 crore in FY20. Total income declined to Rs 8,802.79 crore in FY21 from Rs 9,578.85 crore in FY20. However, the company, which is under corporate insolvency process, posted…