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...
NCLT
EoI for Xalta Food and Beverages invited by Oct 7
The corporate insolvency resolution process (CIRP) for Xalta Food and Beverages Private Limited has entered a significant phase with the...
BoI classifies Reliance Communications loan accounts as fraud
Reliance Communications Limited (RCOM) has disclosed that Bank of India has classified the loan accounts of RCOM, its subsidiary Reliance...
NCLT appoints new liquidator for Uniply Industries amidst suspension of previous one
The National Company Law Tribunal (NCLT), Chennai Bench, has approved the appointment of Ms. Santhanam Rajashree as the new Liquidator...
Diverse recovery mechanisms SBI uses to deal with stressed loans
The State Bank of India (SBI), India’s largest lender, has demonstrated remarkable success in its concerted efforts to recover Non-Performing...
New committee to look into fresh list of accounts to be transferred to NARCL
The finance ministry has set up a committee under the chairpersonship of SBI chairman examine and submit a fresh list...
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 approves Rs 9,661 cr IIHL resolution plan for Reliance Capital
The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the Rs 9,661 crore resolution plan submitted by...
Ex-CEO’s insolvency petition against eSmart Energy Solutions gets rejected
In an intriguing case, the former CEO of a company files an insolvency petition against the company citing non-payment of...
IBC should be used as last option for stressed real estate projects: Panel
Judicial interventions such as Insolvency and Bankruptcy Code (IBC) should be used only as a last resort in case of...