The National Company Law Tribunal (NCLT) today approved JSW Steel Ltd.’s $2.7 billion bid for Bhushan Power & Steel Ltd., the second major steel asset the mill has bagged under the nation’s new insolvency process.
The National Company Law Tribunal Wednesday cleared the sale of IL&FS’s seven wind energy assets to Japan’s Orix Corporation for Rs 4,800 crore, which will partially help reduce its debt burden of over Rs 99,000 crore.
The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed the banks to declare as non-performing assets the accounts of IL&FS and its group companies that have defaulted on payments.
The principal bench of the National Company Law Tribunal (NCLT) on Tuesday reserved its order on approval of the JSW Steel’s resolution plan for Bhushan Power and Steel (BPSL). Sources said NCLT is likely to pronounce its final order on JSW Steel’s Rs19,700-crore bid in the next 15 days.
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.