New Delhi: Tata Steel on Saturday announced it had completed the acquisition of debt-ridden Bhushan Energy Ltd. The announcement came after the National Company Law Tribunal (NCLT) approved the resolution plan of Tata Steel to acquire Bhushan Energy for around 800 crore. “We wish to inform you that Tata Steel BSL Ltd has successfully completed…
DetailsThis is to inform you that, the 7th meeting of the Committee of Creditors of Jaihind Projects Limited is held on today, Friday, May 31, 2019 at 3.00 P.M. IST at 5A Vardan Tower, Near Vimal House, Lakhudi Circle, Ahmedabad 380014 and decided to extend the time for submission of Resolution Plans by the resolution…
DetailsPursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) and in accordance with the requirements of sub-clause 16(g) of Clause A of Part A of Schedule III of Listing Regulations, we wish to inform you that the First meeting of the Committee of Creditors (CoC) was conducted on 30…
DetailsWe hereby intimate you that CIRP has been initiated in respect of Silveroak Commercials Limited (the company) under the provisions of Insolvency and code 2016 (IBC) by an order of National Company Law Tribunal with effect from 2nd May 2019.As per section 17 of IBC 2016, the powers of the board of directors stands suspended,…
DetailsA vulture fund objected to a financial rescue plan for a heavily indebted Co Offaly firefighter, arguing that he could pay more off his mortgage from his familys child benefits. The High Court overruled the objections of Promontoria, owned by US private equity giant Cerberus, on Monday, approving a 75,000 write-down on the debts of…
DetailsA vulture fund objected to a financial rescue plan for a heavily indebted Co Offaly firefighter, arguing that he could pay more off his mortgage from his familys child benefits. The High Court overruled the objections of Promontoria, owned by US private equity giant Cerberus, on Monday, approving a 75,000 write-down on the debts of…
DetailsCFO Ralph Khoury FCPA is based in Dubai, where he runs the ruler over the numbers and strategies for the Middle East media and advertising operations of Omnicom Media Group and TBWARAAD. Fact file Joined Omnicom Inc in August 2008 as the CFO of TBWARAAD Middle East, which was later expanded to the role…
DetailsTHE CASE of Mr Ke, a carpenter from the eastern city of Taizhou who fell deep into debt, may one day be noted in histories of Chinas financial evolution. On May 9th a local court announced that it had arranged for Mr Kes liabilities to be written off. This was made possible by what state…
DetailsWhat are the consequences of bankruptcy? Stephanie McGrath looks at the effects on pharmacy owners On 18 February 2019 AJP reported that the National Health Amendment (Pharmaceutical Benefits) Bill 2019 would enable PBS medicines supply to continue when a pharmacy owner enters bankruptcy. The Bill lapsed at dissolution on 11 April 2019 and is not…
DetailsLaw firm OSM Partners has appointed Andrew Croughan as new partner and head of personal insolvency, and Raymond Lambe as new partner in the corporate and commercial litigation department. Andrew Croughan brings more than 10 years experience in commercial litigation, dispute resolution and insolvency and has acted in cases before all courts including the Supreme…
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