According to sources, Sebi is planning to reduce the timeline for completion of takeover from six months to 30 days for acquirers in case of insolvency proceedings. Price discovery and disclosure-related rules in such takeovers are also expected to be relaxed. Sources said the regulator is considering doing away with the price…
Hyderabad, June 20: Shares of Lanco Infratech continued to witness a steep fall, touching an all-time low of 1.70, down 9.57 per cent, on the BSE on Tuesday. This is in addition to the fall of over 20 per cent over the past two days on news of bankruptcy proceedings making the rounds. RBI move…
MUMBAI: Bankers and metals maker Monnet Ispat & Energy agreed on Tuesday to reorganise the company under the Insolvency and Bankruptcy Code after it defaulted on its Rs. 12,000 crore even as its equity valuation remained less than a 12th of its total obligations to banks. But the agreement gave a sense of hope to…
Advocate Joseph Benkel, the special manager for businessman Eliezer Fishman’s assets, today informed Tel Aviv District Court president Eitan Orenstein that Fishman’s creditors – Bank Hapoalim (TASE: POLI), Bank Leumi (TASE: LUMI), Israel Discount Bank (TASE: DSCT), Mercantile Discount Bank, Mizrahi Tefahot Bank (TASE:MZTF), Union Bank of Israel (TASE: UNON), and the Israel Tax Authority…
Lanco Infratech – File Photo New Delhi : Infrastructure major Lanco Infratech became the first company to face insolvency proceedings among the twelve entities identified by IDBI Bank to recover its dues by taking the resolution to insolvency courts, said a person familiar with the matter. The bank has fund based exposure of Rs…
As news that Channel 10 is to be placed into voluntary administration echoes around Australia, many are asking what this really means for the network and concern is rife for some Aussie favourites including Offspring, Neighbours, MasterChef and The Project. What happened? Channel 10s billionaire shareholders made the decision that they would no longer guarantee a…
Plus: the Insolvency Service and Kids Company, and the Charity Commission issues financial prompts and reminders Now the election is past, it will be important for charities to keep track of the various tax changes that will inevitably follow. VAT rises will usually be a straight additional cost for most charities. Corporation tax increases make…
Global rating agency Moodys has said the effectiveness of a resolution under the Insolvency and Bankruptcy Code (IBC) is expected to be limited as the existing management may continue to play a role even after transferring control to insolvency professionals. Once a resolution under IBC is initiated, control of the company shifts from…
As reported in our previous pieces, the Barrows presidency has been shrouded in secrecy, characterized by back channel deals, and documented evidence of an unabated constitutional assaults, the Freedom Newspaper can reveal. Much has been said and reported about this Senegalese Sarahule multimillionaire in the person of Kallilou Waggeh, who is today Barrows chief political…
The stock plummeted 20 per cent to close at Rs 1.88 its lowest trading permissible limit for the day as also its 52-week low on BSE. At NSE, shares of the company tanked 19.14 per cent to end at Rs 1.90 its lower circuit limit. “Lanco Infratech Limited…