Category Archives: Liquidation

BRIEF-India’s Alok Industries Says Application Filed With NCLT For Liquidation of Co – Reuters

April 16 (Reuters) – Alok Industries Ltd: * SAYS APPLICATION HAS BEEN PREFERRED BY RESOLUTION PROFESSIONAL FOR LIQUIDATION OF COMPANY * ALOK INDUSTRIES SAYS APPLICATION FILED WITH NATIONAL COMPANY LAW TRIBUNAL AT AHMEDABAD ON APRIL 16 Source text for Eikon: bit.ly/2H4u1NG Further company coverage: (Mumbai newsroom) Read the full article at: https://www.reuters.com/article/brief-indias-alok-industries-says-applic/brief-indias-alok-industries-says-application-filed-with-nclt-for-liquidation-of-co-idUSL3N1RT4WU

SB360 Capital Partners Unveil New Liquidation And Asset Realization Platform – PR Newswire (press release)

In addition to liquidation and asset realization services, SB360 provides financing solutions for mid-market companies, and advisory services for retail and wholesale businesses and lenders. Other business units of SB360 focus on real estate advisory and commercial real estate investments, as well as operating SBC Logistics’ Asset Recovery Center in Columbus, Ohio. SB360 operates from…

BRIEF-India’s Alok Industries Says Application Filed With NCLT For Liquidation of Co – Reuters UK

April 16 (Reuters) – Alok Industries Ltd: * SAYS APPLICATION HAS BEEN PREFERRED BY RESOLUTION PROFESSIONAL FOR LIQUIDATION OF COMPANY * ALOK INDUSTRIES SAYS APPLICATION FILED WITH NATIONAL COMPANY LAW TRIBUNAL AT AHMEDABAD ON APRIL 16 Source text for Eikon: bit.ly/2H4u1NG Further company coverage: (Mumbai newsroom) Read the full article at: https://uk.reuters.com/article/brief-indias-alok-industries-says-applic/brief-indias-alok-industries-says-application-filed-with-nclt-for-liquidation-of-co-idUKL3N1RT4WU

A Year Later, the Insolvency and Bankruptcy Code is Still Work-in-Progress – The Wire

New Delhi: The Insolvency and Bankruptcy Code (IBC) introduced by the Narendra Modi government in December 2016 to fix the banking sectors bad loans problem has over the last 16 months been a mixed bag, with borrowers and disgruntled bidders increasingly exploiting vagueness in some key provisions of the code to stall bankruptcy proceedings. The…

Updates on Corporate Insolvency Resolution Process – Hindu Business Line

Alok Industries Ltd has informed BSE that the Corporate Insolvency Resolution Process for the Company expired on April 14, 2018 and the Resolution Professional has not received the approval of the Committee of Creditors for Resolution Plans within the time period prescribed under the Insolvency and Bankruptcy Code, 2016. Pdf Link: Updates on Corporate Insolvency…

Court of Appeal cuts Pearse Farrell’s fees for liquidation of Mouldpro – The Times

A 1.8m bill for a six-year company liquidation has been cut by almost 261,000 after the Court of Appeal ruled the number of hours billed was neither reasonable nor necessary. The court said the number of hours work claimed by liquidator Pearse Farrell in the later stages of winding up Mouldpro, a Dublin firm, was…

Jamie Oliver Restaurant Group placed into voluntary administration – Ten Eyewitness News

Jamie Oliver Restaurant Group placed into voluntary administration Published: 16 April 2018 Image credit: Reuters The Jamie Oliver Restaurant Group has confirmed that it has been placed into voluntary administration less than two years after the company assumed control of Jamies Italian restaurants in Australia. According to the statement, Jamies Italian Canberra will close with…

UltraTech ups offer for Binani Cement; ICICI Lombard leads race for Star Health – VCCircle

UltraTech Cement has increased its offer to acquire debt-laden Binani Cement to Rs 7,990 crore from the earlier Rs 7,266 crore, a financial daily reported. The Economic Times said the increased bid for Binani Cement will cover the interest on loans forgone by the lenders when the company was admitted to the bankruptcy court. Citing…

Alok Industries update on corporate insolvency resolution process – Myiris.com

Alok Industries announced that the Corporate Insolvency Resolution Process for the Company expired on April 14, 2018 and the Resolution Professional has not received the approval of the Committee of Creditors for Resolution Plans within the time period prescribed under the Insolvency and Bankruptcy Code, 2016. The stock had outperformed the market over the…

The joint bid by Reliance and JM Financial rejected for Alok Industries – Indiainfoline

The bid submitted by Reliance Industries Ltd in conjunction with JM Financial Asset Reconstruction Company Limited (JMFARC) has been rejected by committee of creditors (CoC) of Alok Industries. Earlier both the companies had submitted a resolution plan for Alok Industries Limited. The Insolvency and Bankruptcy Code(IBC) requires CoC approval for a resolution plan. JMFARC is…