The Mumbai Bench of the National Company Law Tribunal has admitted ICICI Banks plea to initiate corporate insolvency resolution process against Unimark Remedies Ltd to recover an outstanding loan of about Rs 149 crore. Corporate insolvency resolution process (CIRP) is the process of resolution of insolvency of a corporate debtor (other than a financial service…
The Nifty50 is expected to open flat on Tuesday tracking muted trend seen in other Asian markets. The index closed 20 point higher at 10,584 on Monday. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 47 points or 0.44 percent. Nifty futures were trading around 10,575-level…
Insolvency and Bankruptcy Code provides for approval of the resolution plan first by the CoC with 75% majority and then by NCLT. Photo: AFP It is unfortunate that the Insolvency and Bankruptcy Code (IBC) is mired in so much controversy. Part of the problem is that the important players in IBC, namely the committee of…
TROUBLE HITS: Contractor goes bust, workers unpaid on $53m Coast project THE principal of a major Sunshine Coast painting contractor has claimed the business which left trade creditors out of pocket $284,439 also owes him $883,366. In its first report to creditors into the collapse of Freestyle F.C. Pty Ltd trading as Coastgard, liquidator Worrells has…
Bharti Infratel | Ceat | Coal India | Tech Mahindra | Bharti Airtel | Jet Airways | Thomas Cook | Shilpi Cables | Music Broadcast | MOIL | Swaraj Engines | Astron Paper are the stocks which are in news today ‘); $(‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]); if(resData[stkKey][‘percentchange’] > 0){ $(‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); $(‘.arw_red’).removeClass(“arw_red”).addClass(“ar… Read the full article at: https://www.moneycontrol.com/news/business/stocks/stocks-in-the-news-bharti-infratel-ceat-coal-india-tech-mahindra-airtel-jet-airways-2555381.html
State-run Bank of India (BoI) today said it has entered into an agreement with National E-Governance Services (NeSL) for information utility (IU) arrangement under the Insolvency and Bankruptcy Code (IBC). As per the agreement, BoI will avail NeSL service to expedite corporate insolvency resolution process. Under the IBC 2016, IU is proposed to offer services…
Shares of toy maker Hasbro plummeted in premarket trading Monday after the company posted weaker-than-expected earnings following the liquidation of Toys R Us. “As we discussed earlier in the year, our first quarter was expected to be difficult,” CEO Brian Goldner said in a statement Monday. “We are working to put the near-term disruption from…
State-run Bank of India (BoI) today said it has entered into an agreement with National E-Governance Services (NeSL) for information utility (IU) arrangement under the Insolvency and Bankruptcy Code (IBC). (PTI) State-run Bank of India (BoI) today said it has entered into an agreement with National E-Governance Services (NeSL) for information utility (IU) arrangement under…
Recently, the Reserve Bank of India (RBI) introduced the ‘Resolution of Stressed Assets – Revised Framework’, replacing the regime of voluntary restructuring for Indian banks. Since restructuring had become the default go-to option for banks and defaulting borrowers, this move, which puts banks under very stringent disclosure and deadline schedules, has created a significant stir…
Mumbai: Tata Steel, which emerged as the successful bidder for stressed alloy maker Bhushan Steel in the bankruptcy process, is raising up to Rs 17,000 crore in loans from a consortium of about six private and foreign financiers, said three people with direct knowledge of the matter. The company is in talks with lenders including…