Anil Ambani’s Telecom Defaults In Closely-Watched India Test – NDTV

Billionaire Anil Ambani controls mobile phone operator Reliance Communications The first default on US dollar bonds by an Indian company in 15 months may become a closely-watched test case for how international creditors will fare under the country’s new bankruptcy laws. Reliance Communications Ltd., the mobile phone operator controlled by billionaire Anil Ambani, failed to…

JP Associates-JSW keen to complete Jaypee Infra’s real estate projects under insolvency resolution plan – Firstpost

New Delhi: Debt-ridden Jaiprakash Associates said on Monday that alongwith JSW group, it has shown interest in completing real estate projects of group firm Jaypee Infratech as per the insolvency resolution plan. Jaiprakash Associates Ltd (JAL), part of the Jaypee group, also said that the Jaypee Infratech Ltd (JIL) has more assets than liabilities and…

Big tweak in insolvency law on cards, defaulters may be barred from bidding – Economic Times

NEW DELHI: The government is considering amending its insolvency law to prevent existing promoters of bankrupt companies from reacquiring them during the resolution process at a steep discount. The current Insolvency and Bankruptcy Code, passed last year, does not prevent promoters from bidding for these stressed assets during the resolution process. Some owners are reported…

Man found dead in Barmah – Riverine Herald

UPDATE 9.45pm: LATE last year the former wife of Boutique nightclub owner Darren “Razzle” Thornburgh was left shaken after shotgun fire peppered her luxury Port Melbourne house in a drive-by shooting in the early hours of Friday morning. Police say Denise Thornburgh and her teenage daughter were asleep inside the upmarket, cream-coloured home on Beacon Vista,…