MUMBAI : Financial creditors may realise 55,000-60,000 crore in fiscal 2021-22 through successful resolution plans from the Insolvency and Bankruptcy Code (IBC), credit rating agency Icra has said. The realisation for financial creditors from the resolution of Corporate Insolvency Resolution Process (CIRP) under the IBC declined significantly in FY2021 with a total resolution amount of…
The agency believes that there have been some positive outcomes from the presence of the IBC despite the delays that are becoming common. TopicsIBC|IBC resolution|debt resolution Financial creditors may realise Rs 55,000-60,000 crore in fiscal 2021-22 through successful resolution plans from the Insolvency and Bankruptcy Code (IBC), credit rating agency Icra has said. The realisation…
While its committee of creditors as well as the RBI and the CCI, have given their approval to the resolution plan put forward by the Piramal Group, the plan is awaiting the NCLT TopicsDHFL|Housing Finance|NCLT Mortgage lender Dewan Housing Finance Limited (DHFL) has reported a net profit of Rs 97 crore on a standalone basis…
Dewan Housing Finance Ltd (DHFL) on Sunday reported widening of its FY21 consolidated net loss to Rs 15,051.17 crore as compared with a loss of Rs 13,426.85 crore in FY20. Total income declined to Rs 8,802.79 crore in FY21 from Rs 9,578.85 crore in FY20. However, the company, which is under corporate insolvency process, posted…
Tata Steel Mining Limited (TSML) has been declared as the successful resolution applicant by the creditors of Rohit Ferro-Tech Limited, steel major Tata Steel said on Sunday. TopicsTata Steel|Mining industry Tata Steel Mining Limited (TSML) has been declared as the successful resolution applicant by the creditors of Rohit Ferro-Tech Limited, steel major Tata Steel said…
New Delhi: Dewan Housing Finance Corporation ( ) on Sunday reported a consolidated net profit of Rs 96.75 crore for the last quarter of fiscal ended in March 2021. The company, which is under corporate insolvency process, had posted a net loss of Rs 7,507.01 crore in the January-March quarter of the year-ago fiscal. The…
Dewan Housing Finance Corporation Ltd (DHFL) reported a consolidated net profit of Rs 96.75 crore for the fourth quarter of 2020-21 as against a net loss of Rs 7,507.01 crore a year ago. For the full fiscal 2020-21, it had a consolidated net loss of Rs 15,051.17 crore compared to a net loss of Rs…
Rakesh K Yadav says he got Rs 16 lakh as part of settlement TopicsOyo|NCLT Neha Alawadhi | New Delhi Last Updated at June 5, 2021 18:11 IST Gurugram-based hotelier Rakesh K Yadav, who filed a plea with the The National Company Law Tribunal against a unit of hospitality firm Oyo, has withdrawn the case after…
Controversy over two old houses catching fire on a block sited for a Brisbane townhouse development has come at a bad time for the developer high-profile property investor Sasha Hopkins. Key points: Sasha Hopkins owns a business that went into administration last year owing about $9 million to at least 70 creditors An investigation is…
The Insolvency Law Committee (committee), in its third report, recommended that section 32A be inserted into the Insolvency and Bankruptcy Code, 2016 (code). This granted immunity to the corporate debtor and its property from any action under penal laws following a successful corporate insolvency resolution process (CIRP). This section attempts to balance the codes goal…