New Delhi: Insolvency and Bankruptcy Board of India (IBBI) chairman Ravi Mital said on Friday that the planned amendments to the bankruptcy law will lead to faster resolution of stressed companies. Finance and corporate affairs minister Nirmala Sitharaman introduced amendments to the Insolvency and Bankruptcy Code (IBC) last week with a framework for creditor-initiated resolution…
New Delhi: Insolvency and Bankruptcy Board of India (IBBI) chairman Ravi Mital said on Friday that the planned amendments to the bankruptcy law will lead to faster resolution of stressed companies. Finance and corporate affairs minister Nirmala Sitharaman introduced amendments to the Insolvency and Bankruptcy Code (IBC) last week with a framework for creditor-initiated resolution…
One of the UK’s last remaining steel companies has been pushed into compulsory liquidation – and will fall into government control. Speciality Steels UK (SSUK), part of the Liberty Steel empire owned by metals tycoon Sanjeev Gupta, employs nearly 1,500 people at sites in Rotherham and several other locations across South Yorkshire. Behind Tata Steel…
UK Government to Take Control of Sanjeev Gupta Steel Assets Bloomberg.com Read the original article here
Liberty Steel has called a High Court decision to send its speciality steel business into compulsory liquidation “irrational” and says it put forward plans to create a “sustainable operational platform.” Rothbiz reported this week that a judge has approved an application from creditors to place the business, ehich has operations in Rotherham and Stocksbridge, into…
UK’s third-largest steel producer pushed into compulsory liquidation MSN Read the original article here
British Indian tycoon’s Speciality Steels UK pushed into compulsory liquidation by the UK government. 1500 jobs at risk. London, Aug 21 (PTI) Speciality Steels UK, the country’s third-largest steelworks part of British Indian metals tycoon Sanjeev Gupta group, was on Thursday pushed into compulsory liquidation. The UK government-run Insolvency Service confirmed it will be acting…
The National Company Law Appellate Tribunal (NCLAT), Principal Bench in New Delhi, has dismissed two appeals filed by the Central Bank of India, upholding the orders of the Adjudicating Authority that approved a resolution plan for Neptune Developers Private Limited. The Central Bank of India had challenged two orders, dated January 21, 2025, and March…
One of the UK’s last remaining steel companies has been pushed into compulsory liquidation. Speciality Steels UK (SSUK), part of the Liberty Steel empire owned by metals tycoon Sanjeev Gupta, employs nearly 1,500 people at sites in Rotherham and several other locations across South Yorkshire. Behind Tata Steel and British Steel, it is the third-largest…
On 21 August 2025, a winding-up order was made against Speciality Steel UK Limited, and the court appointed the Official Receiver, Gareth Jonathan Allen, as Liquidator. Following an application made by the Official Receiver, the court has also appointed Matthew James Cowlishaw, Hywel Phillips and Robert Fishman of Teneo Financial Advisory Limited as Special Managers…