REVEALED: Liquidator appointments for businesses in the Cairns council area for September 25 The Cairns Post Read the original article here
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The Supreme Court on Friday upheld steel major JSW Steel Ltd’s Rs 19,000 crore bid to acquire Bhushan Power and Steel Ltd (BPSL) through the Corporate Insolvency Resolution Process (CIRP) route. A bench of Chief Justice of India B R Gavai and Justices S C Sharma and K Vinod Chandran upheld the February 17, 2020,…
BPSL was one of the “dirty dozen” large corporate defaulters identified by the Reserve Bank of India (RBI) in 2017. Its CIRP commenced on July 26, 2017. Key issues addressed The Court addressed and ruled on several contentious issues raised primarily by the erstwhile promoters and a few Operational Creditors (OCs): EBITDA distribution confirmed to…
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REVEALED: Latest business liquidations in Brisbane The Courier Mail Read the original article here
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In a recent case, while admitting the application filed by Canara Bank, the Cuttack bench of the National Company Law Tribunal (NCLT) has held that institution of criminal proceedings against the concerned official of the Financial Creditor cannot be a ground to reject the application under Section 7 of IBC, 2016, unlike in a Section…
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