Hindustan Dorr-Oliver owes banks over Rs1,400 crore, as of March 2017. Mumbai: Eight Capital Group and Centrum Capital Ltd are in a race to pick up a majority stake in Hindustan Dorr-Oliver Ltd (HDO), which is currently facing corporate insolvency proceedings, two people familiar with the development said. Debt-laden IVRCL Ltd, in which banks own…
NEW DELHI: The government is looking at a proposal to give higher priority to the claims of small operational creditors in cases of liquidation under the bankruptcy code, an official said. This comes after representations that small and medium enterprises (SMEs), which are suppliers of goods or services to a defaulting company, face huge losses…
By Davide Barbuscia and Tom Arnold DUBAI (Reuters) A detained Saudi billionaire who led the collapsed Saad Group is seeking to repay part of a multi-billion dollar debt to creditors under a deal that could allow his release, people familiar with the matter told Reuters. The businessman, Maan al-Sanea, was detained in October in the…
The government will come up with a new framework for valuation professionals by the end of the current fiscal, he said. (PTI) Amid differences between lenders and bidders on the proper valuation of a stressed company, the government is considering a proposal to ask insolvency resolution professionals to get the enterprise valuation of the firm…
NEW DELHI: The regulations for grievance handling procedure under the Insolvency and Bankruptcy Code have been notified, wherein the filing fee will be refunded to the stakeholder in case the complaint is found to be not “frivolous or malicious”. The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Code, has notified the…
A-League came to Coffs COFFS Coast sport fans played ball for the Newcastle Jets v Melbourne City football double header at C.ex Coffs International Stadium as one of the biggest crowds made their way through the gates. Before the AFL season kicked off, last year’s minor premiers Sydney Swans locked horns with the North Melbourne…
A-League came to Coffs COFFS Coast sport fans played ball for the Newcastle Jets v Melbourne City football double header at C.ex Coffs International Stadium as one of the biggest crowds made their way through the gates. Before the AFL season kicked off, last year’s minor premiers Sydney Swans locked horns with the North Melbourne…
A Tauranga builder who went into liquidation leaving behind 30 unfinished houses owes at least $4.35 million. This has been revealed in liquidator Tom Rodewald’s first report into the financial affairs of Bella Vista Homes Ltd. Rodewald’s report on the Pyes Pa-based company was as at November 1 – the date Bella Vista went into…
A Tauranga builder who went into liquidation leaving behind 30 unfinished houses owes at least $4.35 million. This has been revealed in liquidator Tom Rodewald’s first report into the financial affairs of Bella Vista Homes Ltd. Rodewald’s report on the Pyes Pa-based company was as at November 1 – the date Bella Vista went into…
HYDERABAD: In an order involving insolvency process of Kamineni Steel, NCLT exercised discretionary powers in determining voting share of lenders for approving resolution plan, while indicting three dissenting banks for their ambiguous stand. The NCLT bench at Hyderabad has passed strictures on officials of PSBs while approving the resolution plan involving one time settlement submitted…