NEW DELHI: The National Company Law Tribunal has admitted the insolvency petition filed by IDBI Bank against debt-ridden Jaypee Infratech. The Allahabad bench of NCLT has admitted the petition filed by IDBI Bank under Section 7 of Insolvency and Bankruptcy Code 2016, Jaypee Infratech said in a regulatory filing. “Consequent upon withdrawal of objections filed…
NEW DELHI: Economic Affairs Secretary Subhash Chandra Garg today said the introduction in the Lok Sabha of the bill seeking to deal with insolvency of financial service providers is a significant step. The Financial Resolution and Deposit Insurance Bill, 2017 was today introduced by Minister of State for Finance Arun Ram Meghwal. Soon after, it…
NOIDA: Jaypee Wishtown homebuyers have pushed the panic button with the company presently listed for insolvency hearing at the Allahabad bench of the National Company Law Tribunal. The buyers have started a social media campaign on micro-blogging site, Twitter with hashtag, Jaypeescam where the buyers are upholding the plight of the buyers invested in Jaypee…
Video PlayerClose BERLIN, Aug. 10 (Xinhua) — Incidents of insolvency among German firms and individuals are on the rise, figures released on Thursday by the Federal Statistical Office show. A total of 1,764 firms were declared insolvent by German district courts in May 2017, an increase of 1.6 percent compared to last year. Most insolvencies…
Galway Bay fm newsroom 208 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years.Thats according to the latest report from the Insolvency Service of Ireland.The report covers the period from the beginning of 2014 to the second quarter of this year.It reveals that 88…
The insolvent joint-stock company KVV Liepajas Metalurgs posted EUR 26.145 million in losses in 2016, while the company’s turnover amounted to EUR 14.163 million, writes LETA, according to Firmas.lv. In 2015, KVV Liepajas Metalurgs turned over EUR 69.356 million and posted EUR 8.366 million in losses. As reported, Liepajas Metalurgs metallurgical plant based in the…
Galway Bay fm newsroom 208 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years. Thats according to the latest report from the Insolvency Service of Ireland. The report covers the period from the beginning of 2014 to the second quarter of this year. It reveals that 88 people…
The Hyderabad bench of NCLT accepted the petition against Lanco Infratech moved by IDBI Bank and appointed Savan Godiawala as the interim insolvency professional. Mumbai: The National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Lanco Infratech Ltd, among the 12 identified cases referred to the tribunal following the Reserve Bank of Indias 13…
By: ENS Economic Bureau | New Delhi | Published:August 9, 2017 6:42 am The NCLT bench in Ahmedabad had observed in the SBI versus Alok Industries case that since the winding-up petitions had not been admitted, the Insolvency and Bankruptcy Code (IBC) could be invoked. (representational Image) Related News The Principal bench of the National…
Dhirendra Tripathi Moneycontrol News The Allahabad bench of the National Company Law Tribunal on Wednesday accepted lender IDBI Banks plea and classified Jaypee Infratech as an insolvent company. With this, the board of directors of the company remains suspended. The Tribunal will now appoint an insolvency resolution professional — an official from one of the…