In the past couple of years, India has witnessed quick resolutions for tackling non-performing stressed assets (NPAs) and debts in India, including its restructuring thereof, by providing a powerful tool to the financial and operational creditors in the form of the Insolvency and Bankruptcy Code, 2016 (the IBC, 2016). The effective reforms in the IBC,…
Quick Take Cryptopia, a New Zealand based crypto exchange, filed for liquidation after suffering a serious hack and failing to recover the stolen assets The exchange stored its customer data with Arizona-based company PNAP, but after liquidation, did not receive satisfactory assurance that the data would remain secure without payment Cryptopia filed a Motion for…
New Delhi: Tata Steel on Saturday announced it had completed the acquisition of debt-ridden Bhushan Energy Ltd. The announcement came after the National Company Law Tribunal (NCLT) approved the resolution plan of Tata Steel to acquire Bhushan Energy for around 800 crore. “We wish to inform you that Tata Steel BSL Ltd has successfully completed…
This is to inform you that, the 7th meeting of the Committee of Creditors of Jaihind Projects Limited is held on today, Friday, May 31, 2019 at 3.00 P.M. IST at 5A Vardan Tower, Near Vimal House, Lakhudi Circle, Ahmedabad 380014 and decided to extend the time for submission of Resolution Plans by the resolution…
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) and in accordance with the requirements of sub-clause 16(g) of Clause A of Part A of Schedule III of Listing Regulations, we wish to inform you that the First meeting of the Committee of Creditors (CoC) was conducted on 30…
We hereby intimate you that CIRP has been initiated in respect of Silveroak Commercials Limited (the company) under the provisions of Insolvency and code 2016 (IBC) by an order of National Company Law Tribunal with effect from 2nd May 2019.As per section 17 of IBC 2016, the powers of the board of directors stands suspended,…
THE CASE of Mr Ke, a carpenter from the eastern city of Taizhou who fell deep into debt, may one day be noted in histories of Chinas financial evolution. On May 9th a local court announced that it had arranged for Mr Kes liabilities to be written off. This was made possible by what state…
RCom is estimated to have a total debt of over Rs 45,000 crore, which includes exposure of public sector banks also. PTINew Delhi Last Updated:May 30, 2019 |08:49 IST New Delhi, May 29 (PTI) The committee of creditors of debt-ridden telecom firm Reliance Communications is scheduled to meet on Thursday, the company said in a…
Staff Reporter|29 May 2019 The prestige Melbourne home builder Canny Buildershas entered voluntary administration. Builder Damian Canny called in the accounting firm PKF last Friday with the administratorsGlenn FranklinandJason Stone assessing whether the business can be sold. PKF said it is already aware of a number of parties interested in the business…
Sub: Extension of time for filing of Audited Financial Results to the Stock Exchanges under Regulation 33 of SEBI (LODR) Regulations 2015 Dear Sir/Madam, Request for seeking extension of time to submit Financial results under Regulation 33 of SEBI(LODR) Regulations, 2015, for Financial Year 2018 – 2019 due to appointment of IRP/RP in the Company…