Around 200 applications for resolution of stressed assets have been filed under the insolvency law since the suspension of fresh proceedings ended on March 24, according to IBBI. Amid the coronavirus pandemic that had significantly impacted economic activities, certain provisions under the Insolvency and Bankruptcy Code (IBC) were suspended with effect from March 25, 2020.…
Mantra Properties & Developers and Solitaire group are among the three companies which have submitted their bids to acquire Pune-based listed realty firm D S Kulkarni Developers through the insolvency process. In September 2019, the National Company Law Tribunal (NCLT), Mumbai Bench ordered the commencement of corporate insolvency resolution process (CIRP) in respect of D…
Bankruptcy tribunal NCLT has raised doubts over “confidentiality” of the liquidation valuation of the assets of Videocon Industries and its 12 group companies during the insolvency process. The tribunal has asked the Insolvency and Bankruptcy Board of India (IBBI) “to examine this issue in depth” to ensure that the confidentiality clause is followed without any…
The Mumbai bench of the National Company Law Tribunal (NCLT) has questioned the haircut that creditors have to take in the Videocon Industries Ltds (VIL) resolution plan. The resolution applicant was paying close to the liquidation value to acquire the company, the tribunal noted in the order approving the resolution plan submitted by Anil Agarwals…
Bellway’s Share Price Looks Well Supported House builder Bellway’s share price should be well underpinned by the expected delivery of growth over the medium term and a decent dividend payout, Canaccord Genuity says. Bellway has guided for a higher average selling price for fiscal 2021 and pretax profit consensus forecasts for the year are likely…
The FTSE 100 index closed higher on Tuesday, with Associated British Foods PLC leading the sessions risers list and Antofagasta PLC the fallers. “The FTSE is edging higher, lifted by large dollar-earning companies such as Diageo, Unilever and British American Tobacco as the pound falls. However, gains in the index are being capped by delays…
SINGAPORE (BLOOMBERG) – Asset sales in a liquidation process at Hyflux, Singapore’s highest-profile distressed company, would likely bring in less than $200 million, a person familiar with the matter said, a fraction of the amount creditors are claiming. Hyflux’s judicial manager Borrelli Walsh filed a court application earlier this month to wind up the water…
Administrators appointed to manage the affairs of live exporter North Australian Cattle Co and its sister company, Southern Australian Cattle Co have called for expressions of interest from investors interested in buying the businesses. Administrators Melissa Lau and Jimmy Trpcevski from Jirsh Sutherland are seeking urgent expressions of interest from parties interested in acquiring the…
14 June 2021 Consultancy.com.au 2 min. read Virgin Australia has announced the appointment of Bain & Company senior partner Dave Emerson as its new Chief Commercial Officer, with Emerson having been aiding the carrier since last year. Dave Emerson is the head of Bains global airline practice and has been leading many of Virgins business…
A day before the start of the voting process, the two contenders NBCC and Suraksha held separate webinars on Sunday with hundreds of homebuyers to explain their resolution plans and address doubts of flat owners. In the webinar, NBCC expressed confidence that it will get approval from Yamuna Expressway Industrial Development Authority (YEIDA) to hive…