Binani Cement is currently undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (IBC). Photo: Bloomberg New Delhi: The Competition Commission of India (CCI) on Wednesday unconditionally approved the proposed acquisition of Binani Cement Ltd by Rajputana Properties, subsidiary of Dalmia Bharat Cement Ltd. Binani Cement is currently undergoing a corporate…
DetailsSTAMFORD, Conn., March 7, 2018 /PRNewswire/ — Cenveo, Inc. (OTCPK: CVOVQ) (the “Company”), a diversified manufacturer of print-related products including envelopes, custom labels, commercial print, and publisher solutions, today announced that the U.S. Bankruptcy Court for the Southern District of New York, White Plains has given final approval of the Company’s $290 million debtor-in-possession (“DIP”)…
DetailsLiberty House, part of Sanjeev Gupta’s global industrial group GFG Alliance, has been chosen as highest preferred bidder for Amtek Auto’s assets, which include 35 automotive component plants across India, Japan, Thailand and Spain, employing 6,000 people. The announcement of Liberty House as the successful preferred bidder was made in the committee of creditors…
Details… Read the full article at: https://www.stamfordadvocate.com/business/article/Bankrupt-Cenveo-gets-court-OK-for-financing-12735434.php
DetailsLiberty House, part of Sanjeev Guptas global industrial group GFG Alliance, said it has emerged as the successful highest bidder for Amtek Auto Pvt Ltd., paving the way for the formers entry into the Indian market. Liberty House…is set to make a dramatic entry into India after being chosen as preferred H1 bidder for Amtek…
DetailsIllustration: Luo Xuan/GT India’s banking system has restructured more than 6 trillion rupees ($92.34 billion) in bad debts over the past three years. The recent $2 billion Punjab (PNB)-Nirav Modi fraud has made it worse. Though statistical methods vary, even the lowest estimate of the bad debt ratio exceeds 10 percent. But it is unlikely…
DetailsBetsy DeVoss Education Department has mistakenly kicked student loan borrowers out of forbearance. (Ted S. Warren/AP) Chad Godfroy has saved every email from the U.S. Department of Education since submitting an application to have his federal student loans cancelled in 2015. Despite the continued wait, Godfroy, 38, took comfort in knowing his payments would be postponed as…
DetailsSimon Mundy March 7, 2018 Tata Steel said it had been selected as the winning bidder for troubled rival Bhushan Steel, in one of the largest cases to be dealt with under Indias new insolvency system. Bhushan, a mid-sized Indian steelmaker with annual revenue of around $2bn, was put into bankruptcy proceedings last year after…
DetailsThis press release was orginally distributed by ReleaseWire Buffalo, NY — (ReleaseWire) — 03/07/2018 — Question: What industry receives the top number of consumer complaints at the Federal Trade Commission (FTC) every year? Answer: Debt relief. Each year the FTC goes to bat for debtors by taking companies in the debt relief industry to court.…
DetailsBulgarian MPs voted on March 7 to overturn President Roumen Radevs veto on the bill of amendments to the Bank Insolvency Act. The motion carried with 129 MPs in favour, 40 opposed and no abstentions. The two parties in the government coalition, Prime Minister Boiko Borissovs GERB and the United Patriots group of nationalist parties, were…
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