The Supreme Court on Monday ordered a status quo on the liquidation proceedings of Bhushan Power and Steel Ltd (BPSL), granting relief to JSW Steel Ltd and allowing the company to file a review petition against the court’s 2 May verdict that quashed its ₹19,300 crore resolution plan. A bench comprising Justices B.V. Nagarathna and…
Notably, in December 2024, the ED decided not to pursue its appeal before the Supreme Court against JSW Steel’s takeover of Bhushan Power and Steel under the IBC. It also returned attached assets valued at ₹4,025 crore to JSW Steel so that it could take control of Bhushan Power pursuant to the insolvency resolution process under IBC. The restitution…
[SINGAPORE] Former Park Hotel Management (PHMPL) director Allen Law, who is being sued by liquidators of the company, has failed to reduce his potential liabilities by S$6.8 million after the High Court rejected his application to amend his defence and introduce a counterclaim. In a landmark judgment last year, Justice Goh Yihan dismissed Law’s application…
NEW DELHI: Lenders of Jaiprakash Associates have approved budgeted cash outflow of Rs 936.27 crore for the current quarter to ensure that the company remains as a going concern. Jaiprakash Associates, which is facing insolvency proceedings, also informed that the Enforcement Directorate initiated searches on May 23 and the company is cooperating with the agency.…
Three England Rugby Legends Declared Bankrupt in the Last Year – Page 2 of 3 Ruck.co.uk Read the original article here
An Aussie IT manager has detailed the startling string of events that led her into bankruptcy and how she managed to turn things around and become a successful investor and homeowner. Liz Porter was told she would never amount to anything and, by her 20s, was spiralling – emotionally broken, flat broke and branded a…
The Insolvency and Bankruptcy Board of India (IBBI) has made it mandatory for resolution professionals (RPs) to inform the national company law tribunal (NCLT), if a personal guarantor fails to submit a repayment plan. The new rule will effectively increase the accountability of personal guarantors, make it difficult for them to escape culpability. “Where no…
In the lead-up to the United Kingdom’s famous Glastonbury festival this summer, well-heeled partiers shelled out for fancy “glamping” yurts — those tent-like dwellings with ancient origins in Central Asia that have been appropriated by hippies in recent decades — and the people who took their money are now telling them they’re out of luck. As the…
Jaiprakash Associates lenders approved Rs 936.27 crore cash outflow for the current quarter to keep the company operational during insolvency proceedings. The company is also cooperating with the Enforcement Directorate. New Delhi, May 25 (PTI) Lenders of Jaiprakash Associates have approved budgeted cash outflow of Rs 936.27 crore for the current quarter to ensure that…
Liz Porter, 54, who has bought a home after being bankrupt in her 20s. An Aussie IT manager has detailed the startling string of events that led her into bankruptcy and how she managed to turn things around and become a successful investor and homeowner. Liz Porter was told she would never amount to anything…