A joint resolution plan submitted by JM Financial Asset Reconstruction Company Ltd. and Reliance Industries Ltd. has not met with approval of the committee of creditors of Alok Industries Ltd., RIL said in a late-evening stock exchange notification today. The 270-day deadline for the corporate insolvency resolution programme under the insolvency and bankruptcy code ended…
The Insolvency and Bankruptcy Board of India (IBBI) has imposed a monetary penalty on the resolution professional (RP) of insolvent Electrosteel Steels. The Insolvency and Bankruptcy Board of India (IBBI) has imposed a monetary penalty on the resolution professional (RP) of insolvent Electrosteel Steels for failure to consider the claim of an operational creditor, and…
Written by Mithun Dasgupta | Kolkata | Published: April 15, 2018 3:49:11 am National Sales claims fell in the category of 31 operational creditors for which claims are under dispute in the pre-corporate insolvency resolution process The Insolvency and Bankruptcy Board of India (IBBI) has imposed a monetary penalty on the resolution professional (RP) of…
The Insolvency Petition filed against SEL Manufacturing, the first company under the Reserve Bank of Indias (RBI) second list to have been referred to the National Company Law Tribunal (NCLT), has now been admitted. SBI referred the case to Chandigarh Bench of the NCLT on October 12, 2017 under Section 7 of the Insolvency and Bankruptcy…
GABORONE, April 11 (Reuters) – Botswanas High Court has taken Tati Nickel Mine out of provisional liquidation, dismissing a request for more time to negotiate with potential buyers, the liquidator said on Wednesday. Tati a subsidiary of the liquidated BCL mine group has since October 2016 been under provisional liquidation, which was twice extended after…
Piper Alderman welcomed a senior lawyer to the partnership today. Sarah Johnson, who is based in Sydney, has joined the national firms commercial law team. She moves from Kemp Strang, where she has been executive counsel since 2012. She made the move to Australia and Kemp Strang in 2006 when she joined the firm as…
Hopes of bankers of lesser haircuts along with resolutions of almost half of the 12 stressed assets under the insolvency proceedings, are close to realization in the next two months. Nearly ten months after the Reserve Bank of India identified 12 non-performing assets (NPAs), estimated to account for 25 percent of the gross NPAs of…
In a setback for Ultratech, the Supreme Court on Friday refused to allow out-of-court settlement for Binani Cement bankruptcy case. UltraTech Cement had informed the stock exchanges that it had obtained the Competition Commission of India’s (CCI) approval for its bid for the under-debt company and the company claimed the…
Reserve Bank confirms resilient financial system Financial Stability Review Reserve Bank Financial Stability Review: The Reserve Bank has handed down the latest review of the financial system. The Australian financial system remains resilient and its ability to withstand adverse shocks continues to be strengthened. Household borrowing risks ease: Concerns about riskier types of new housing…
ASIC cancels Octani Capital’s licence – InvestorDaily ASIC cancels Octani Capital’s licence Latest News Perth-based corporate advisory practice Octani Capital has had its Australian financial services licence cancelled by ASIC. By Reporter … Read the full article at: https://www.investordaily.com.au/regulation/42846-asic-cancels-octani-capital-s-licence