National Company Law Tribunal’s Kolkata chapter has ordered liquidation of Gujarat NRE Coke, a company that failed to resolve the Rs. 4,900 crore default case. But, there is twist! For the first time under Insolvency and Bankruptcy Code, the dedicated bankruptcy court has mandated to liquidate the company as an “on-going concern”, which is aimed…
IVRCL was locked at 5% upper circuit at Rs 6.15 at 14:36 IST on BSE after the company announced that its lender, State Bank of India has initiated corporate insolvency resolution process against the company. The announcement was made during market hours today, 11 January 2018. Meanwhile, the S&P BSE Sensex was up 24.39…
KOLKATA | MUMBAI: Visa Steel, which was taken to the National Company Law Tribunal (NCLT) on January 5 by lead lender State Bank of India for defaulting on Rs 3,600 crore of loans, is pursuing a resettlement plan with its bankers. The proposal includes selling its loans to asset reconstruction companies. “While SBI has filed…
Absas liquidation of Markus Joostes company Mayfair Speculators is likely to see his friend Christo Wiese take a R200m fall, Moneyweb reported on Thursday. Court papers filed by Absa said the bank was made aware on December 8 that Jooste had left Mayfair insolvent with R1bn in liabilities against R350m assets by transferring other assets…
Alfred Angelo went bankrupt last summer, but a liquidation company has re-opened the Garland store. Kevin Reece , WFAA 6:27 PM. CST January 10, 2018 A bankrupt bridal gown company that left distraught brides in its wake in July is open again in one location in Dallas. But if prospective brides want a heavily-discounted dress, they’d…
About NYRT NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. NYRT’s shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and winding down and, in connection therewith, is seeking to…
NEW DELHI: The National Company Law Tribunal (NCLT) has directed initiating insolvency proceedings against Bhushan Energy Ltd after admitting a plea from the country’s largest lender State Bank of India (SBI). A two-member bench of NCLT has appointed Navneet Kumar Gupta as the interim resolution professional (IRP) to initiate insolvency proceedings. Bhushan Energy Ltd, the…
Read more on From Around The Web More from The Economic Times #pd#’;var orghtmlD = ‘”{{titleLength}}60{{titleLength}}”,#og##og#’;*/function tWpxIGIKfHF(par) { if(typeof otab == ‘function’){ otab(par,”); } else{if(typeof canRun == ‘undefined’ || (typeof canRun != ‘undefined’ && !canRun)) { window.open(par,’_blank’);}else{window.op… Read the full article at: https://economictimes.indiatimes.com/markets/stocks/news/will-gujarat-nre-be-liquidated-in-new-manner/articleshow/62433510.cms
ICONIC Australian footwear, clothing and accessories label Diana Ferrari will close all bricks-and-mortar stores within months. In a statement to shoppers, the company announced the brand’s 23 retail boutiques and 11 clearance outlets will all shut down in the coming months. The label will continue to maintain an online presence. “All Diana Ferrari stores will…
PTI| Updated: Jan 09, 2018, 07.20 PM IST The company said in a BSE filing that the RP has on close of business on January 4, 2018 received 4 resolution plans. NEW DELHI: Debt-laden Electrosteel today said four companies including Vedanta and Tata Steel have submitted bids to its Resolution Professional (RP), under the insolvency…