In a big relief to power, sugar, shipping and other companies, the Supreme Court on Tuesday set aside a February 12, 2018 circular of the Reserve Bank of India via which the banking sector regulator had asked banks to take defaulting power, sugar, shipping and other sector companies to insolvency.
Lenders to Essar Steel have decided to move the Supreme Court in the event the National Company Law Appellate Tribunal pressures them to pay unsecured financial creditors more than they are inclined to.
National Company Law Tribunal (NCLT) Ahmedabad is expected to pass its order Friday in the high-profile insolvency and bankruptcy code (IBC) case of Essar Steel in which ArcelorMittal has emerged as the winning bidder with Rs 42,000-crore offer.
NCLT to pass order on Essar Steel insolvency case later today; ArcelorMittal favourite, all eyes on Ruias
The Ahmedabad bench of the National Company Law Tribunal (NCLT) will on March 8 deliver its verdict on the Essar Steel insolvency case. The case is listed to be heard in the second half of the day, and is number 10 on the Cause List.
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on Thursday rejected two pleas by lender Karur Vysya Bank (KVB) which sought to reject ArcelorMittal’s resolution plan for Essar Steel India Limited (ESIL) citing pending dues from ArcelorMittal in KSS Petron.
State-run power giant NTPC has decided to acquire only those stressed power projects undergoing insolvency proceedings in the National Company Law Tribunal (NCLT), with an aim to get fairer deals.
The National Company Law Appellate Tribunal (NCLAT) has set aside an order by the Kolkata bench of the National Company Law Tribunal which allowed initiation of insolvency proceedings against Eastern Coalfields (ECL), a subsidiary of India’s largest miner Coal India.
The National Company Law Appellate Tribunal (NCLAT) has set aside the National Company Law Tribunal (NCLT) Kolkata bench’s order to start insolvency proceedings against Eastern Coalfields (ECL), a subsidiary of Coal India, said an official on Thursday.
Pension funds and provident fund trusts, which collectively have invested ‘thousands of crores in bonds issued by IL&FS group, have filed intervening petitions in the National Company Law Appellate Tribunal
The Ahmedabad Bench of the NCLT on Wednesday reserved its order on a plea filed by the Ruias, the promoters of the distressed Essar Steel. The promoters had sought to claim their right to participate in the meetings of Essar Steel