NCLAT upheld the sale of Bhushan Steel to Tata Steel, rejecting allegations of its ineligibility by the promoters of the debt-ridden firm.
Israel’s largest mobile phone operator Cellcom said it signed a memorandum of understanding to invest in the Israel Electric Corp’s (IEC) fibre optic venture.
The gross bad loans of public sector banks (PSBs) hit 15 per cent of advances in 2017-18, government said in Parliament today.
India Infrastructure Finance Company said it was hopeful of speedy recovery in accordance with the resolution procedure of IBC.
IBBI Chief M S Sahoo today said the process to put in place a framework for cross-border insolvency cases is underway.
Scam-hit PNB's recovery of over Rs 7,700 crore in bad loans during the first quarter in the current fiscal has surpassed the total amount it recovered in the entire 2017-18 financial year, indicating that it has embarked on the turnaround path, the bank's top official has said.
With growing GDP, legislative reforms such as GST and IBC (Insolvency and Bankruptcy Code), India will hit double-digit growth rates soon," Chauhan told IANS.
The govt will soon start a short-term programme to train individuals as insolvency and bankruptcy associates, officials said.
IBBI) has mandated that a resolution professional should determine whether a corporate debtor had indulged in fraudulent transactions within a specified time period.
Saddled with a whopping debt of Rs 9,000 crore, the ownership of Hyderabad-based Deccan Chronicle Holding would soon change hands.
Aircel moves SC to make Airtel clear dues
Alleges that the co withholding Rs453 Cr of bank guarantees paid on its behalf
Bank guarantees have lapsed and Aircel wants Airtel to pay the money
Alleged that Airtel is trying to usurp the sum
Aircel says without the money it may get liquidated
Bain joins KKR in race for Max Healthcare stake
PE firms look to buy 47% stake from Life Healthcare for $450-540 Mn
To decide on buy back of shares on Aug. 20
JET AIRWAYS CLARIFIES
Co planning $400 Mn stake sale is speculative in nature
Jet Auditor BSR may quit if issues are not resolved is factually incorrect
Have been pro-actively working on multiple revenue enhancements
Evaluating various funding options to meet liquidity requirements on priority
Relationship with Etihad Airways very strong
No delays in discharging any loan obligations to any of the lenders
Default status in tabular statement only due to technical errors, rectified now
Clarifies that reports of stake sale are purely speculative
Also Clarifies that rumors of auditor quitting if issues not solved are factually incorrect
Seeks lenders help in bid to avoid default
Airline wants waiver of loan covenant on existing debt facility of $185mn
Co has to repay or refinance at least $500mn of existing debt to avoid default
Told lenders it won’t be able to meet min $50mn profit condition for FY19
Consortium of lenders yet to decide on Jet’s request
Airline’s total debt was Rs 9430 Cr as on 31st March 18
NSE TO JET AIRWAYS
Have noticed a difference in your responses dated August 9 & 10
Clarify whether mgmt extension from audit committee as per Aug 10 response
Or did Audit Committee not recommend results to board as per Aug 9 response?
In Aug 10 response, details of "Certain Matters Not Closed" not provided
Provide exact reasons for which audit committee has not approved results
Again ask you to give us date when board meet to consider results will be held