IBC: Ruias Offer To Repay Over Rs 54000 Crore To Withdraw Essar Steel From Insolvency – BloombergQuint

Promoters of Essar Steel Ltd., the Ruia family, have offered to repay creditors of the steel firm in an attempt to withdraw it from the insolvency resolution process. In a press statement on Thursday, the companys shareholders said they are willing to pay Rs 54,389 crore to creditors. The company said that Essar shareholders will…

Mumbai court to hear bankruptcy petitions against 15 Videocon companies – Economic Times

NEW DELHI: A single court in Mumbai will hear matters pertaining to bankruptcy proceedings of 15 Videocon group companies pending in multiple courts, the National Company Law Tribunal (NCLT) ruled on Wednesday. NCLT president, Justice MM Kumar, directed that all insolvency proceedings initiated by the State Bank of India against the Videocon group be adjudicated…

NCLT Principal bench directs to move Videocon insolvency pleas to one court – The Hindu BusinessLine

The principal bench of the National Company Law Tribunal (NCLT) on Wednesday directed to transfer all insolvency petitions related to Videocon group being heard in Mumbai courts to a single court there. NCLT President Justice M M Kumar directed to transfer all insolvency petitions related to Videocon group to one court headed by M K…

SBI seeks adviser to streamline insolvency of 15 Videocon firms – Livemint

Videocons businesses, especially in consumer electronics and home appliances segment, are dependent on each other, according to State Bank of India. Photo: Pradeep Gaur/Mint Mumbai: The State Bank of India (SBI) wants to appoint an adviser to liaison among the separate resolution professionals (RPs) and prospective bidders for the 15 Videocon group entities that it…