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…
Japanese fast fashion casual wear chain Uniqlo is to open its first WA outlet, Uniqlo Plaza Arcade, on the Murray Street mall by mid-year. News of the 1290sqm flagship store, with its LifeWear clothing for men, women, children and babies, coincides with this weeks profit turnaround. The clothing retailer declared it had notched up a…
TNN | Jan 12, 2018, 01:30 IST Hyderabad: Beleaguered Hyderabad-based infra player IVRCL Ltd on Thursday informed the bourses that its lender State Bank of India had initiated corporate insolvency proceedings against the company under the Insolvency and Bankruptcy Code 2016 (IBC). The company said SBI had initiated Corporate Insolvency Resolution Process (CIRP) against the…
National Company Law Tribunal’s Kolkata chapter has ordered liquidation of Gujarat NRE Coke, a company that failed to resolve the Rs. 4,900 crore default case. But, there is twist! For the first time under Insolvency and Bankruptcy Code, the dedicated bankruptcy court has mandated to liquidate the company as an “on-going concern”, which is aimed…