DRT Recovery Certificate Gives Fresh Limitation Period for Initiating CIRP: NCLT Admits ₹17.54 Cr Insolvency Plea Against Sunbeam Dealers [Read Order]

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The National Company Law Tribunal (NCLT) Kolkata Bench has admitted a Section 7 insolvency application filed by Bank of India against Sunbeam Dealers Private Limited, holding that a Recovery Certificate issued by the Debt Recovery Tribunal (DRT) constitutes a fresh cause of action and extends the limitation period for initiation of CorporateInsolvency Resolution Process (CIRP).…

Adani Ports to acquire Jaypee fertilizers for ₹1,500 crore in insolvency deal – The Indian EYE

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Our Bureau Ahmedabad India’s largest private ports operator, Adani Ports and Special Economic Zone (APSEZ), announced on Thursday that it will acquire 100% stake in Jaypee Fertilizers & Industries Ltd (JFIL) from Jaiprakash Associates Limited for ₹1,500 crore. The deal is part of the National Company Law Tribunal (NCLT)-approved insolvency resolution plan for Jaiprakash Associates.…

No Cookies | Daily Telegraph

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Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…

Mortgage of Property Without Actual Disbursal Does Not Constitute Financial Debt under IBC: NCLAT Rejects Financial Creditor Classification [Read Order]

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The National Company Law Appellate Tribunal (NCLAT) New Delhi Bench has ruled that mortgaging property to facilitate a loan transaction without actual disbursal of money to the corporate debtor cannot be treated as a financial debt under the Insolvency and Bankruptcy Code, 2016 (IBC). The Tribunal rejected the appellant’s plea seeking recognition as a financial…

ConCourt grants Centaur appeal in Gupta-era Trillian case

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The Constitutional Court has partly ruled in favour of mining company Centaur. Nicolene Olckers/Gallo Images Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your mind and heart with our FREE 14-day subscription trial. Dive into a world of inspiration, learning, and empowerment. You can only trial once. Read the…

Dalmia Bharat Set to Acquire Jaiprakash Associates’ Cement Assets for Over Rs 2,500 Crore After Adani Group Takeover, ETRealty

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NEW DELHI: Dalmia Bharat Ltd will acquire the cement assets of Jaiprakash Associates Ltd (JAL) for more than Rs 2,500 crore, sources said, as the Adani Group moves to carve up and integrate key businesses of the infrastructure conglomerate following its acquisition under the insolvency process. The proposed transaction would give Dalmia Bharat control of…

The Book Helping UK Directors Facing Insolvency Find a Way Out

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A Lancaster construction director who had spent autumn watching his company’s cash flow tighten, his HMRC arrears climb, and his accountant’s advice grow increasingly bleak, hadn’t slept in months. By December, James had accepted the reality many UK directors facing insolvency eventually confront behind closed doors: after eleven years of building the business, it could…

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To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a…