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The National Company Tribunal (NCLT), Mumbai Bench comprising of Ms. Lakshmi Gurung (Member (Judicial) and Shri Anil Raj Chellan (Member (Technical) disposed a Section 60(5) application filed by the Applicant against the approval of the Resolution Plan, stating that the same lacked the desired voting percentage to be approved as a resolution plan. Background The…
New Delhi: The Supreme Court on Friday ordered the liquidation of cash-strapped Bhushan Power and Steel Limited (BPSL), holding that JSW Steel’s resolution plan for the bankrupt company was not in consonance with the provisions of the Insolvency and Bankruptcy Code (IBC), 2016. A bench of Justices Bela Trivedi and S.C. Sharma came down heavily…
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Sigma Finance Corporation – RNS Announcement Business Wire Read the original article here
Sigma Finance set for dissolution after asset liquidation By Investing.com Investing.com India Read the original article here
The court quashed and set aside the judgment and orders dated 05.09.2019 and 17.02.2022 passed by the NCLT and the NCLAT The Supreme Court rejected the Resolution Plan submitted by JSW Steel for Bhushan Steel and Power Ltd holding that the Resolution Plan was illegal and contrary to the provisions of the Insolvency and Bankruptcy…
Sigma Finance set for dissolution after asset liquidation Investing.com Australia Read the original article here
Sigma Finance set for dissolution after asset liquidation Investing.com Read the original article here
The Supreme Court on May 2 rejected the resolution plan submitted by JSW Steel for Bhushan Steel and Power Ltd (BSPL) on May 2 and ordered the liquidation of BSPL under the IBC. A bench comprising Justice Bela M Trivedi and Justice Satish Chandra Sharma criticised the conduct of all key stakeholders in the resolution…