NOIDA: Buyers of Jaypee Wish Town have started an online petition directed to the management of the Industrial Development Bank of India (IDBI), seeking amnesty for Jaypee Infratech from an impending declaration of bankruptcy. The appeal harps that invested buyers should not have to bear the brunt of Jaypee’s financial situation. The campaign, floated on…
HYDERABAD: In a major setback to Deccan Chronicle Holdings Ltd (DCHL), the National Company Law Tribunal (NCLT) in Hyderabad on Wednesday admitted an insolvency petition filed by Canara Bank against the beleaguered company. The tribunal posted the case to July 11 for announcing its decision on the consequential steps to be taken after admission of…
The debt-resolution process for Nicco Corporation, one of the first companies to approach the National Company Law Tribunal (NCLT), is still hanging in the balance with lenders asking the company to rework its resolution plan, according to sources close to the development. The committee of creditors has suggested some changes in the resolution plan. To…
The CBI had earlier charged the DC group, for criminal conspiracy and causing wrongful loss of Rs 357.77 crore to Canara Bank. In a blow to Deccan Chronicle Holdings Ltd (DCHL), the National Company Law Tribunal (NCLT) in Hyderabad on Wednesday, reportedly admitted an insolvency petition filed by Canara Bank. Reporting that a company is…