JSW’s KSK Mahanadi bid gets NCLT nod

NEW DELHI: The Hyderabad bench of the National Company Law Tribunal (NCLT) on Thursday approved the Rs 16,084 crore resolution plan submitted by JSW Energy Limited for KSK Mahanadi Power Company Limited, a Chhattisgarh-based thermal power company. The corporate insolvency resolution process against KSK Mahanadi Power Company Limited was initiated by Power Finance Corporation Limited…

IBBI introduces key amendments to enhance liquidation process efficiency and transparency, ET LegalWorld

Highlights The Insolvency and Bankruptcy Board of India has implemented amendments to enhance the efficiency, transparency, and integrity of the Liquidation and Voluntary Liquidation processes, which include changes to auction timelines and stricter eligibility verification for bidders. Mandatory filing of a final report by liquidators when a scheme of compromise or arrangement is approved has…

NCLT nod to JSW’s Rs 16,000cr bid for KSK Mahanadi Power

The Hyderabad bench of the National Company Law Tribunal (NCLT) has officially approved the Rs 16,084-crore resolution plan proposed by JSW Energy Limited for the acquisition of KSK Mahanadi Power Company Limited, a Chhattisgarh-based thermal power producer. This significant development marks a crucial step in resolving the financial distress faced by the company. The corporate…

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Qld building company goes into liquidation

Up to 300 property owners have been left in the lurch by the insolvency of the Queensland-based residential construction company.  Oracle Building Corporation, which traded as both Oracle Platinum Homes and Oracle Hunter Homes, has called in administrators and entered liquidation. The company, which immediately ceased business and terminated all staff on Wednesday (24 August),…