Empowering legal heirs of debtors to participate in insolvency resolution
Prachi Apte a research associate at IBBI and Sushanta Kumar Das, deputy general manager at IBBI advocate for a revised...
Month: October 2023
ED raids premises of Opto Circuits in Rs 883-crore bank fraud case
Directorate of Enforcement (ED) has carried out search operations on 17 October 2023 under the provisions of the Prevention of...
NCLT approves Rs 74.81-crore resolution plan for Ujaas Energy
The Rs 74.81 crore resolution plan submitted by consortium of SVA Family Welfare Trust and M&B Switchgears for Ujaas Energy...
Amalgam Steel acquires Topworth Steel and Power for Rs 260 crore
The NCLT has approved the Rs 260-crore resolution plan of Amalgam Steel and Power Limited for bankrupt Topworth Steel and...
ED raids Ex-MD of Bhushan steel in Rs 56,000 loan fraud case
The Enforcement Directorate (ED) conducted search and survey operations on 13 October 2023 at 30 locations in Delhi NCR, Haryana,...
SBI to withdraw insolvency plea against Bajaj Hindusthan Sugar
State Bank of India has made a submission in NCLT regarding withdrawal of its application for initiating corporate insolvency resolution...
Reliance Capital resolution at risk as IRDAI rejects IIHL’s proposal to pledge insurance arm shares
After the insurance regulator --IRDAI -- rejected Hinduja Group-led IIHL's proposal to raise funds for the Reliance Capital acquisition by...
NCLT approves Steel Strips Wheels Rs 138-cr bid for AMW Auto Component
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has approved the Rs 138.15 crore resolution plan submitted by...
Naveen Jindal-owned firm expresses interest in buying out Go First
Naveen Jindal, the promoter of Jindal Steel and Power, has expressed interest in buying insolvent airline Go First. Go First...
NCLT approves Ebix’s Rs 325-crore resolution plan for Educomp Solutions
The New Delhi bench of the NCLT has approved the Rs 325-crore resolution plan submitted by Ebix Singapore Pte. Ltd...