Rare Asset Reconstruction Pvt Ltd.s resolution plan got approval of 14.31 percent of the financial creditors against the minimum requirement of 75 percent. The employees of the company, who feared liquidation and loss of livelihood, sought to repay the secured lenders and address issues of all other stakeholders, the order said. Chief Commercial Officer Pawan…
Binani Cement owes close to Rs3,042.93 crore to a consortium of lenders. Photo: Mint Mumbai: At least two lenders of Binani Cement Ltd, currently undergoing insolvency proceedings, have moved the appellate bankruptcy tribunal after the insolvency resolution professional (IRP) rejected their claims on corporate guarantees worth Rs2,000 crore issued by the company to some subsidiaries…
Fri, Jan 12, 2018 – 8:15 PM INVESTMENT holding company k1 Ventures Limited (k1) announced on Friday that it intends to undertake a proposed members’ voluntary liquidation of the company. This comes after k1 completed the disposal of its entire interests in Chicago-based financial services and investment management holding company Guggenheim Capital for approximately US$221…
IVRCL was locked at 5% upper circuit at Rs 6.45 at 15:00 IST on BSE, with the stock extending surge triggered by the company announcing that its lender, State Bank of India has initiated corporate insolvency resolution process against the company. The announcement was made during market hours yesterday, 11 January 2018. The stock…
Jan 12 (Reuters) – Indias National Company Law Tribunal (NCLT) has ordered liquidation of Gujarat NRE Coke Ltd after the companys debt resolution plans failed. The Kolkata bench of the NCLT, the designated court for bankruptcy cases, on Thursday passed the order, which was filed with the stock exchanges on Friday. NCLT-appointed liquidator will first…
Reuters Friday January 12, 2018 3:25 AM Kitco News Share this article: Jan 12 (Reuters) – India’s National Company Law Tribunal (NCLT) has ordered liquidation of Gujarat NRE Coke Ltd after the company’s debt resolution plans failed. The Kolkata benc… Read the full article at: http://www.kitco.com/news/2018-01-12/Indian-tribunal-orders-liquidation-of-Gujarat-NRE-Coke.html
A Callala Bay woman charged with failing to submit a report as company director within 14 days as required has been fined $2000. Christina Margaret Koch, 41, did not attend Nowra Local Court prior to Christmas to answer the charge in a case brought by the Australian Securities and Investment Commission. Court papers said between July…
A resolution professional has filed a case against an Insolvency and Bankruptcy Board of India (IBBI) order in the National Company Law Tribunal (NCLT), marking a first, said people aware of the matter. Mukesh Mohan, the resolution professional for bankrupt car service company Carnation Auto India, challenged the IBBI for asking him to seek expressions…
One of the major media agencies of the healthcare industry, Hammond & Thackeray, has gone into liquidation with creditors including major publishers and agencies expected to be $4.4 million out of pocket. The 35-year-old agency which also serviced agricultural clients from its Sydney, Melbourne and Auckland offices, was wound up by its directors on December 22.…
Gujarat NRE Coke Ltd founder Arun Kumar Jagatramka. Photo: Indranil Bhoumik/Mint Kolkata: The Kolkata bench of the National Company Law Tribunal (NCLT) on Thursday ordered the liquidation of Gujarat NRE Coke Ltd, while appointing insolvency resolution professional Sumit Binani as the official liquidator. Considering the appeal of around 1,200 permanent workers, the bench has asked…