A company bidding for a stressed asset in the same sector in which it is operating will now have to get the Competition Commission of India’s (CCI’s) approval ahead of finalisation of bids during insolvency process, sources said. This is a part of the latest round of amendments proposed by the government in the Insolvency…
By PTI NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) today asked the resolution professional (RP) of Jaypee Infratech to submit details on the progress of the insolvency resolution process of the debt-ridden firm. A two-member bench of the appellate tribunal, headed by Chairman Justice S J Mukhopadhaya, has asked the RP to list…
Graeme Boyd Motorcycles goes into liquidation NEWCASTLE motorcycling identity Graeme Boyd says market conditions are to blame for the liquidation of the business he has run under his own name for more than 20 years. Mr Boyd, who has also been an enthusiastic promoter of moto-cross events in the Hunter over the years, said that if there…
Under the Insolvency and Bankruptcy Code, the CoC and resolution professional have to complete the corporate insolvency resolution process in 180 days. This can be extended for another 90 days by the NCLT, failing which the stressed firm goes for liquidation. “The entire period staring from April 19, 2018 to the final disposal of the…
Ricoh India Limited is hereby submitting to your good Office a Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015. This is regarding Expression of Interest published in Mint Newspaper of 9th July 2018 Edition. The disclosure so being submitted to you also contains as an Annexure the `Expression of Interest Pdf Link: Ricoh India…
Melbourne builder Bayside Construct, which won a national award last year for the country’s best medium-rise residential development, has collapsed under debts of about $20 million. Cor Cordis administrator Sam Kaso made 49 people redundant from the Port Melbourne-based company upon being appointed as voluntary administrator on Thursday and has retained seven staff to help…
The future of dockless share bikes in Australia is in doubt, with at least one company announcing it is ceasing operations here, and the future of two more is under a cloud. Several companies have faced a backlash from local residents and councils in several capital cities. The bright yellow and red bikes of…
The long wait is finally over. More than a month after classifying home buyers as financial creditors, the insolvency regulator IBBI has now spelt out the mechanism, albeit indirectly, through which these home buyers voice would be heard in the committee of creditors. The Insolvency and Bankruptcy Board of India (IBBI) has made changes to…
The Fourth meeting of the Committee of Creditors of the Corporate Debtor was held on Friday, 4 May, 2018 at 2:00 PM at Conference Hall, Asset Reconstruction Company (India) Ltd, The Ruby, 10th Floor, 29, Senapati Bapat Marg, Dadar (West), Mumbai, 400 028.The outcome of the meeting is summarized as herein below:l . The last…
The Seventh meeting of the Committee of Creditors of the Corporate Debtor was held on Friday, 15 June 2018 at 3:30 PM at Grant Thornton India LLP, 16th Floor, Tower Il, India bulls Finance Centre, Senapati Bapat Marg, Elphinstone (W), Mumbai 400013.The outcome of the meeting is summarized as herein below:l. Reviewed and discussed the…