The Centre is set to alter the insolvency code to shield new owners of bankrupt companies from criminal liabilities pertaining to the time when the entities were controlled by the outgoing promoters, three people...
Vardhman Industries case: NCLAT sets aside conditions imposed on JSW Steel
The National Company Law Appellate Tribunal (NCLAT) has set aside conditions imposed on JSW Steel by the Delhi bench of the National Company Law Tribunal, relating to unrecovered dues, carried forward losses and rights...
Work is on to amend IBC to address cross-border insolvency: MS Sahoo
Insolvency and Bankruptcy Board of India chairman M S Sahoo on Saturday said work is on to amend the Insolvency and Bankruptcy Code 2016 that will address cross-border insolvency. On Thursday, Sahoo had said the...
Sufficient interest for Air India, says DIPAM secretary
As the Centre gears up to invite fresh expressions of interest (EoIs) soon for the sale of its entire stake in debt-ridden Air India, the DIPAM (Department of Investment and Public Asset Management) secretary Tuhin...
SC restores CoC status, IBC process gets a leg-up
Friday’s landmark Supreme Court judgment in the Essar Steel case establishes the primacy of secured financial lenders as the final arbiters of how sale proceeds from a stressed asset under Insolvency and Bankruptcy...
BSNL-MTNL merger: Revival out of coverage area?
The early logic of public provision of telecommunications services in India was justified on grounds of market failure, and employment creation. Market failure meant the private sector would either not be interested in...
World’s biggest IPO: Saudi oil giant Aramco eyes $1.71 trillion valuation
Saudi Arabia put a preliminary valuation on its state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion, missing Crown Prince Mohammed bin Salman’s initial $2 trillion target. In an updated prospectus...
Yes Bank looking for $1.2 billion funding by December, give board seat to new investors
Private sector lender Yes Bank is aiming to finish a USD 1.2 billion (about Rs 8,462 crore) equity raising exercise by December and willing to give new investors a board seat, according to a top official. The bank...
Air India invites bids from law firms to review business contracts, legal, labour issues
Flag carrier Air India is looking to hire a law firm for due diligence process for proposed disinvestment of its three businesses — Air India Ltd, Air India Express Ltd, and Air India SATS Airport Services Ltd. Air...
GVK deposits Rs 1,248 crore in escrow account to acquire stake in Mumbai International Airport
GVK group on Thursday deposited Rs 1,248 crore in an escrow account for buying out Bidvest’s share in Mumbai International Airport (MIAL), people aware about the development said. The arbitration tribunal had directed...
M&A activity remains sluggish in September quarter: Grant Thornton
Mergers and acquisitions (M&A) deal activity in the third quarter of calendar year 2019 witnessed a downtrend, with total values falling by more than half as compared to the same period last year, according to the...
McNally creditor withdraws insolvency petition after out-of-NCLT settlement
Financially stressed Williamson Magor group, promoted by the Khaitan family, got a major relief on Friday as the Kolkata bench of the National Company Law Tribunal (NCLT) allowed a financial creditor to withdraw its...
