The Supreme Court on Wednesday directed Jaiprakash Associates Ltd (JAL), the holding company of infrastructure giant Jaypee, to produce on record details of each and every one of its housing projects spread across the country. With the direction the SC has now made clear that it is committed to protecting the lower middle-class homebuyers who…
MUMBAI: India is likely to consider expanding its bankruptcy law to include cross-border insolvency, which helps lenders tap defaulters’ assets overseas, as a top panel at the Insolvency and Bankruptcy Board of India (IBBI) meets Thursday to help strengthen the framework dedicated toward recovering bad loans. “Cross-border insolvency is on top of the agenda. The…
Macquarie Group is chasing $US40.7 million ($52 million) from an American family that ran a billion-dollar-plus cocoa trading business, after emails between staff allegedly revealed one of the biggest fraud cases in recent US history. Macquarie has joined forces with several other banks including Dutch financial giant ABN AMRO to sue the father-son duo that ran one of the world’s largest suppliers…
The Supreme Court on Wednesday said that the it will decide on Reserve Bank of Indias plea seeking to start insolvency proceedings against JAL on the next date, February 5, and that the central bank should not act on it, legal sources said. It also ordered that the parent company Jaiprakash Associates (JAL) to submit…
, ET Bureau| Jan 09, 2018, 07.13 PM IST A consortium of Aion Capital Partners and JSW Steel had emerged as the sole bidder for Monnet. MUMBAI: The Mumbai bench of NCLT on Tuesday granted the resolution professional of debt ridden steel company Monnet Ispat and Energy an extension of 90 days to complete its…
January 4 2018, 12:01am, The Times Ross Maguire Once lawyers get hold of a system there will inevitably be unnecessary delays and expenses The new personal insolvency system had some spectacular successes last year. It was set up to deal with unsustainable personal debt in Ireland, which in the main means mortgage debt, particularly on family…
The Reserve Bank of India on Monday knocked on the doors of the Supreme Court (SC) with a plea to start insolvency proceedings against infrastructure major Jaiprakash Associates Ltd (JAL). The firm has been embroiled in a Rs 29,000 crore debt case. According to a report in Moneycontrol.com, more than 25,000 people who had bought homes constructed…
Textile company E. Miroglio to start production in Serbia’s Pirot in 2018 – VIDEO Edoardo Miroglio headquarters in Sliven, Bulgaria; Source: Edoardo Miroglio BELGRADE (Serbia), January 8 (SeeNews) – Bulgarian-based textile company Edoardo Miroglio plans to start production in Pirot, in eastern Serbia, in 2018, the mayor of Pirot said. Edoardo Miroglio is expected to start production…
Omega Sibanda Petros Kausiyo and Eddie ChikamhiZIFA are confident they will stage smooth elections this year, with the soccer mother body insisting yesterday that they would be guided by their constitution as they take steps to hold the polls. The association will outline the elections roadmap after their annual meeting slated for February 17 in Harare…
Omega Sibanda Eddie Chikamhi, Harare BureauAFTER weeks of incessant attacks during which their authority appeared to be challenged, Zifa have directed that all the associations members should fulfil their statutory obligations by registering their constitutions with the association to avoid any clashes. Zifa vice-president Omega Sibanda yesterday told the media in Harare that it was…