SEBI plans addl disclosure norms for cos facing insolvency proceedings – Business Line

SEBI plans to bring in additional disclosure requirements for listed corporates undergoing insolvency resolution process as well as amend norms pertaining to minimum public shareholding norms and other provisions for such entities, a senior official said. The proposal comes at a time when there are increasing number of cases coming up under the Insolvency and…

NCLT on late submission of bids and exaggerated insolvency resolution costs – Bar & Bench

While dismissing two applications filed against a resolution professional for wrongful conduct, Judicial Member Jinan K.R of the Kolkata Bench of NCLT has also reflected his views on the exaggerated insolvency resolution cost of a dying corporate debtor. On an application filed by Punjab National Bank, Divyajyoti Sponge Iron Ltd. was placed under the corporate insolvency…

Binani Cement RP moves court alleging Rs 2400 crore fraudulent transactions – Economic Times

MUMBAI: In a fresh twist to the ongoing takeover battle over Binani Cement, resolution professional (RP) Vijaykumar V Iyer has moved the National Company Law Tribunal (NCLT), Kolkata, alleging fraudulent transactions of about Rs 2,400 crore involving the corporate debtor (Binani Cement) that are undervalued, extortionate, preferential. In his March 13 application, the RP asked…