Long liquidation battle of Punj Lloyd — failed going concern sale offset by piecemeal asset auctions
The liquidation saga of engineering major Punj Lloyd Limited, once a powerhouse in the EPC sector, continues to be characterized...
ICICI Bank
Case study: Innoventive Industries Vs ICICI Bank
The case involved an appeal concerning the Insolvency and Bankruptcy Code of 2016. The appellant, Innoventive Industries Ltd., faced losses...
IL&FS Group to make interim payment of Rs 5,000 crore to creditors
IL&FS Group companies have initiated an interim distribution of Rs 5,000 crore – including Rs 3,500 crore of Infrastructure Investment...
Lenders reject one-time settlement proposal of Jaiprakash Associates promoters
Lenders of Jaiprakash Associates Ltd (JAL) led by ICICI Bank have rejected the modified one-time settlement proposal, in which the...
Financial creditors of Jaiprakash Associates submit claims of Rs 51k cr
The financial creditors of Jaiprakash Associates Ltd (JAL), which is undergoing corporate insolvency resolution process, have submitted claims worth Rs...
NCLAT asks ICICI to consider OTS proposal in Jaiprakash Associates case
Insolvency appellate tribunal NCLAT has issued a notice to ICICI Bank over the plea of Jaiprakash Associates Ltd and said...
NCLT gives nod to insolvency proceedings against Jaiprakash Associates
The National Company Law Tribunal (NCLT) on Monday directed to initiate insolvency proceedings against debt-ridden Jaiprakash Associates Ltd, admitting the...
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 79-crore resolution plan for Leela Trade Steel and Commodities
Ritzee-Pritesh Mehta JV, a Joint Venture of Pritesh Futarmalji Mehta and Ritzee Recycling Private Limited, has successfully bid for Pune-based...
2nd round of e-auction for sale of Punj Lloyd as going concern on 28 Aug
The liquidator of Punj Lloyd Ltd -- Ashwini Mehra – will hold the second round of e-auction on 28 August...