Omkara Asset Reconstruction Company, the sister company of Areion Group ARC, announced on Friday that it has acquired the debt of bankrupt Wind World India from the National Asset Reconstruction Company Ltd (NARCL) in a ₹1,225-crore bid. NARCL, the state-run bad bank, originally purchased the debt of ₹3,763 crore about 18 months ago. The fresh…
– Advertisement – Mumbai– In a major setback for industrialist Anil Ambani, the Bombay High Court on Friday dismissed his plea challenging the State Bank of India’s decision to classify his loan account as “fraud.” A bench comprising Justices Revati Mohite Dere and Neela Gokhale upheld SBI’s action, ruling that the bank had complied with…
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The orchards at the centre of a liquidation of a fledging Central Otago fruit company are up for sale. Ardgour Orchards, Valley Orchards GP Ltd and Ardgour Valley Orchards LP went into liquidation in early August, although details were scant on why. The orchards had been situated on part of Ardgour Station, near Tarras. The…
The National Company Law Tribunal (NCLT) Kolkata bench admitted Rs 2,888 Cr Insolvency petition by Canara Bank against Gupta Power Infrastructure, holding that when a financial creditor consortium establishes a valid default exceeding the threshold limit under Section 4 of the IBC, supported by proper authorization and undisputed evidence of debt, the Adjudicating Authority is…
Omkara Asset Reconstruction Company has announced the successful acquisition of Rs 3,763 crore debt from the bankrupt Wind World India, secured with a bid of Rs 1,225 crore. The strategic move places Omkara in a pivotal role as the lead decision-maker in Wind World India’s Corporate Insolvency Resolution Process, securing an 80% voting share…
They have been launched to help Brits pay off their debt faster They have been launched to help Brits pay off their debt faster(Image: PA) TSB and Barclays customers can get a credit card deal which doesn’t pay interest for the first 35 months. They have been launched to help Brits pay off their debt…