Insolvency Guardian Media Centre
“Since the appeal has not been disposed of until Feb. 21, 2025, as per the instruction of the Supreme Court, the order passed by NCLAT regarding the stay on the CIRP of the Corporate Debtor stands vacated. Therefore, the CIRP of the Corporate Debtor recommences/resumes and the powers of the IRP are hereby reinstated with effect from Feb. 22, 2025,” it said.
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Haydale places “loss-making” US arm into corporate insolvency process Insider Media
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NEW DELHI: Adani Power Limited (APL) on Monday said it has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited.
The power firm was selected as the successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of Vidarbha Industries Power Ltd.
The Committee of Creditors approved Adani Power’s resolution plan, as confirmed by the Adani Group company in its stock exchange filing.
“The Committee of Creditors of Vidarbha Industries Power, a company undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016, has approved the Resolution Plan submitted by Adani Power, ” APL said in the filing.
The firm further added that APL received a Letter of…
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New Delhi : Adani Power Limited (APL) on Monday said it has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited.
The power firm was selected as the successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of Vidarbha Industries Power Ltd.
The Committee of Creditors approved Adani Power’s resolution plan, as confirmed by the Adani Group company in its stock exchange filing.
“The Committee of Creditors of Vidarbha Industries Power, a company undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016, has approved the Resolution Plan submitted by Adani Power,” APL said in the filing.
The firm further added that APL received a Letter of Intent…
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Strandline enters voluntary administration Creamer Media’s Mining Weekly
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Insolvency proceedings against Coffee Day Enterprises Ltd. resume after the NCLAT failed to issue a ruling within the Supreme Court’s deadline. The company faces debt issues stemming from the death of its founder in 2019.
Last week, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) completed the hearing and reserved its order over the appeal filed by the director of its suspended board, CDEL informed through a regulatory filing.
“Since the appeal has not been…
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New Delhi, Feb 24 (PTI) Insolvency process against Coffee Day Enterprises Ltd (CDEL), which owns the Cafe Coffee Day chain, has resumed as appellate tribunal NCLAT could not pass the order within the specified deadline of February 21, set by the Supreme Court.
Last week, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) completed the hearing and reserved its order over the appeal filed by the director of its suspended board, CDEL informed through a regulatory filing.
“Since the appeal has not been disposed of until February 21, 2025, as per the instruction of the Supreme Court, the order passed by NCLAT regarding the stay on the CIRP of the Corporate Debtor stands vacated. Therefore, the CIRP of the Corporate…
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WA builders, restaurants among the hardest hit as insolvencies surge MSN
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The German startup Lilium has faced several difficult turns lately, and was already heading towards insolvency when an investor stepped in on Christmas Eve last year to save the company. At the time, Lilium stated that the investor consortium Mobile Uplift Corporation signed a purchase agreement for the assets of the Lilium subsidiaries, and all 750 employees that had been let go would be rehired.
It was then revealed that the investor consortium would fund Lilium with €200 million to continue operations, however, the funds were conditional, based on a restructuring process that had not been completed. By the sixth of January, four investors had already transferred an initial €5 million to the consortium, but this still maintained…
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FTI Consulting Bolsters Cross-Border Restructuring and Insolvency Offering with Hire of Jo Hewitt GlobeNewswire