The Competition Commission of India (CCI) has approved the proposed acquisition of debt-laden Jaiprakash Associates Limited (JAL) by PNC Infratech Limited. Under the deal, PNC Infratech will acquire at least 95% and up to 100% of JAL, either directly or through a special purpose vehicle that it may incorporate as a wholly-owned subsidiary. JAL is…
CCI approves PNC Infratech’s proposal to acquire debt-ridden Jaiprakash Associates in insolvency proceeding. New Delhi, Sep 16 (PTI) Fair trade regulator CCI on Tuesday said it has given in-principle approval to PNC Infratech’s proposal to acquire debt-ridden Jaiprakash Associates, should it win a bid in the ongoing insolvency proceeding. “The proposed combination relates to the…
De Facto Director Liable for Insolvent Trading Lexology Read the original article here
Interim Plea Filed in NCLT Against Suraksha ARC Over Fraud Allegations A suspended director of Sapphire Land Development Pvt. Ltd. (SLDPL) has moved the National Company Law Tribunal (NCLT), Mumbai against Suraksha Asset Reconstruction Company (ARC) alleging fraud, irregularities, and violations of regulatory norms in the company’s insolvency process. The application was filed by Lakhminder…
Japan’s richest man and the founder and CEO of Fast Retailing FRCOY, which operates Uniqlo, Tadashi Yanai, warned that the United States could face the steepest costs from the tariffs imposed by President Donald Trump. Warns The World ‘Could Go Bankrupt’ Speaking at a Uniqlo event in New York City on Monday, Yanai said that…
Suraksha ARC deal with Yes Bank under spotlight, ex-director flags fund routing MSN Read the original article here
Suraksha Asset Reconstruction Company (ARC) is under scrutiny after a suspended director of Sapphire Land Development Pvt. Ltd. (SLDPL) accused it of fraud and regulatory violations in the company’s insolvency proceedings. The application, filed before the National Company Law Tribunal (NCLT) in Mumbai by former director Lakhminder Dayal Singh, alleged collusion between Suraksha ARC and…
The Insolvency and Companies Court, in A Company -v- Visionary Future LLC & ors. (unreported), has dismissed an application by a company seeking to strike out, or alternatively restrain advertisement of, a winding-up petition brought by creditors. The judgment underlines the critical importance of providing proper and substantiated evidence in insolvency proceedings. Lewis Silkin acted…
Texas insurer ordered into liquidation amid mounting losses Insurance Business America Read the original article here
To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a…