Zee Group settles Rs 6,500 crore Yes Bank debt; bank takes 75% haircut
Zee Group and Yes Bank have reached a one-time settlement (OTS) for the outstanding debt of ₹6,500 crore, according to...
Month: August 2023
Resolution plan can terminate related party contracts: NCLT
A recent NCLT ruling has clarified that the successful resolution applicant (SRA) in a corporate insolvency resolution process has the...
NCLAT clarifies contentious issues on Jaypee Infratech resolution order
The National Company Law Appellate Tribunal (NCLAT) gave its observation on two petitions filed against an NCLT order dated 07th...
Why US supreme court halted Purdue Pharma bankruptcy plan
The US Supreme Court blocked bankruptcy plan of Purdue Pharma on 10 August 2023, pending review of the legality of...
Ujaas Energy resolution back on track after NCLAT reverses NCLT order
The National Company Law Appellate Tribunal (NCLAT) in a recent verdict overturned a January 2023 order of NCLT, in which...
Net4India acquired by consortium led by Open Platforms for Rs 196 crore
India’s largest website domain company – Net4India – has been acquired by a consortium of Open Platforms Private Limited, Sudhanshu...
Recovery rate for operational creditors stands at mere 24%: Study
The average recovery rate for financial creditors in corporate insolvency cases which ended in resolution is about 38.5%, while those...
76% increase in sales of resolved firms in 3 yrs since resolution: Study
An IIM Ahmedabad study shows those firms which have undergone resolution under Insolvency and Bankruptcy Code (IBC) have significantly improved...
ED arrests Maltese citizen in Moser Baer loan fraud case
Directorate of Enforcement (ED) on 22 August 2023 arrested Nitin Bhatnagar, a Maltese Citizen, for his involvement in the offence...
NCLT approves Ramkrishna Forgings Rs 125-cr resolution plan for JMT Auto
The New Delhi bench of NCLT has approved the Rs 125-crore resolution plan submitted by Ramkrishna Forgings Limited for the...