Adani Power on Thursday said the NCLT Hyderabad bench has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of Rs 4,101 crore. LAPL is undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, a BSE filing said. According to the filing, the acquisition shall be…
The Insolvency and Bankruptcy Board of India (IBBI) has proposed amendments to the Insolvency Resolution Process for Corporate Process regulations, to enhance efficiency and reduce costs, and sought stakeholder inputs by July 10. These amendments are expected to enhance the efficiency and transparency of the Corporate Insolvency Resolution Process (CIRP), and benefiting creditors and other…
Adani Power gets NCLT nod to to acquire Lanco Amarkantak Power for ₹4,101 crore MSN Read the original article here
MUMBAI: In a widely expected step, Byju’s has moved the National Company Law Appellate Tribunal (NCLAT), challenging a court order which allowed insolvency proceedings to be initiated against the once high flying decacorn startup. Byju’s, sources said, has sought an urgent hearing on the matter. The Chennai bench of NCLAT may take up the matter…
In short: The company which operates the Peko mine in Tennant Creek has been placed into voluntary administration. Elmore has told the Australian Stock Exchange it is “insolvent or likely to become insolvent at some future time”. What’s next? Employees have been told they still have jobs and will continue to be paid a wage, as administrators assess…
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12…
Sign up to receive the Vogue Business newsletter for the latest luxury news and insights, plus exclusive membership discounts. In shock news to the industry, Australian New York-based designer Dion Lee has appointed voluntary administrators to the brand’s Australian business. The brand is the fourth independent label this week to raise alarm. Whereas the other three…
Major private debt collector Panthera Finance has appointed new directors and put parts of the company into administration as it seeks to sell off its scandal-plagued business. Last month, Guardian Australia revealed Panthera, one of the country’s biggest private debt collection firms, had circumvented a blacklisting designed to stop it from operating in Victoria and…
Constance Hall has put her online fashion business into voluntary administration. The mother-of-six took to Facebook late Thursday evening to announce she would be shutting up shop on Queen The Label after being ‘stressed out for seven years’. In a long-winded post, Constance, 40, said she ‘dreaded’ breaking the news, and that administrators will be coming…
On Thursday, the Supreme Court of India declined to defer or impose a stay on the operations of a Committee of Creditors (CoC) recently established to oversee the corporate insolvency resolution process (CIRP) for the ed-tech firm Byju’s [Glas Trust Company LLC v. Byju Raveendran and ors]. The Bench, comprising Chief Justice of India (CJI)…