This is in continuation of our earlier intimation dated 07th June, 2019, the Resolution Professional of the Company has submitted the resolution plan of Kals Distilleries Pvt. Ltd, as approved by the committee of creditors under sub-section (4) of section 30, with Honble National Company Law Tribunal, Jaipur Bench for approval under section 31 (1)of…
Notice for the 13th Meeting of Committee of Creditors of Southern Online Bio Technologies Limited (under Corporate Insolvency Resolution Process) under the provisions of The Insolvency and bankruptcy Code, 2016 read with Insolvency and bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016.Day & Date: Monday, 17th June, 2019Time: 4.00 P.MVenue: Bank…
Mandatory retirement savings in Australia are worth $2.7 trillion and growing. Equity markets are arguably looking fully priced, particularly as the rhetoric of a trade war between the US and China ramps up again. To top it off, bank deposits and bond yields are offering circa 2% yields at best. Finding investment opportunities that are…
With reference to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it may please be noted that as per the instructions of Sri Parag Sheth, Interim Resolution Professional, the first meeting of the Committee of Creditors was held on Friday, May 24, 2019.Thereafter, E-Voting was conducted from June 3, 2019 (11.00…
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to inform you that the Court 2 of the Chennai Bench of the National Company Law Tribunal (NCLT) has, Vide its order dated June 07,2019 admitted the Petition/Application No.1BA 243/2019 filed by State Bank of India under Section 7 read…
CAM GETS IBC PARTNER Cyril Amarchand Mangaldas has hired Richa Roy as a partner in its insolvency and bankruptcy and policy practice in Mumbai. Roy recently worked as a graduate research fellow at the University of Oxford in the UK on a range of public policy projects in trade policy and banking regulation. Roy was…
SEBI has moved the Supreme Court against an order by the National Company Law Tribunal (NCLT) in the matter of collective investment schemes (CIS) where the tribunal ruled that the Indian Bankruptcy Code (IBC) will prevail over the SEBI Act. The SC has issued a notice to the parties involved and the next hearing is…
The Supreme Court, in the recent case of JK Jute Mill Mazdoor Morcha v Juggilal Kamlapat Jute Mills Company Ltd through Its Director & Ors, held that a trade union can file as an operational creditor for the purpose of the Insolvency and Bankruptcy Code, 2016 (IBC). The court said that a trade union is…
Chennai: Integrated sugar maker Thiru Aarooran Sugars (TA Sugars) has knocked the doors of the National Company Law Tribunal (NCLT) to kick-start the process of corporate insolvency resolution plan after SBI moved the tribunal upon default of loans.The petition for resolution under the Bankruptcy Code was filed by SBI claiming dues of Rs 149.36 crore.…
In their April 29 report to creditors, Mr Hosking and Mr Hathway said they were also investigating a number of potentially voidable transactions including payments totalling $9.28 million made to Merhis Finance (a wholly owned subsidiary of Merhis Corp, which is wholly owned by Mark Merhi) and $18.46 million transferred to related companies in the…