Insolvency Guardian Media Centre
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Contemporary Delhi: Debt-ridden Essar Steel has registered an EBITDA (earnings sooner than curiosity, tax, depreciation and amortization) of Rs 4,229 crore in some unspecified time in the future of its Company Insolvency Resolution period (over 600 days).
In an affidavit filed sooner than the National Company Legislation Appellate Tribunal (NCLAT) last week, its resolution skilled has educated that the firm earned Rs 4,000 crore from its operations between August 2017 and February 2019. As neatly as, the RP moreover mentioned an incomes of Rs 229 crore for March this twelve months.
Moreover, this amount excludes Rs 734 crore EBITDA utilised for …
Read the full article at: https://nationaltimes.in/19/20133/essar-steel-reviews-rs-4229-crore-ebitda-in-some-unspecified-time-in-the-future-of-insolvency-period/
New Delhi: Debt-ridden Essar Steel has registered an EBITDA (earnings before interest, tax, depreciation and amortisation) of 4,229 crore during its Corporate Insolvency Resolution period (over 600 days).
In an affidavit filed before the National Company Law Appellate Tribunal (NCLAT) last week, the resolution professional said the company earned 4,000 crore from its operations between August 2017 and February 2019. In addition, the RP also mentioned an earning of 229 crore for March this year.
Moreover, this amount “excludes 734 crore EBITDA utilised for Finance Costs (Financial Lease, LC/BG Charges to banks and finance charges on payables to suppliers etc) for maintaining the Corporate Debtor (Essar Steel) as a going concern,” the…
Read the full article at: https://www.livemint.com/companies/news/essar-steel-reports-rs-4-229-cr-ebitda-during-insolvency-period-1558248737038.html
New Delhi, May 19 Debt-ridden Essar Steel has registered an EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 4,229 crore during its Corporate Insolvency Resolution period (over 600 days).
In an affidavit filed before the National Company Law Appellate Tribunal (NCLAT) last week, its resolution professional has informed that the company earned Rs 4,000 crore from its operations between August 2017 and February 2019. In addition, the RP also mentioned an earning of Rs 229 crore for March this year.
Moreover, this amount “excludes Rs 734 crore EBITDA utilised for Finance Costs (Financial Lease, LC/BG Charges to banks and finance charges on payables to suppliers etc) for maintaining the Corporate Debtor (Essar Ste…
Read the full article at: https://www.outlookindia.com/newsscroll/essar-steel-reports-rs-4229-cr-ebitda-during-insolvency-period/1537460
New Delhi [India], May 19 (ANI): Innumerable litigations, defiant promoters, failing sectors and over-burdened National Company Law Tribunals (NCLTs) have negatively impacted corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) over the past two years, according to investment information and credit rating agency ICRA.
Still, the process has chugged on, albeit at a slower pace than envisioned. Till the close of the financial year 2018-19 on March 31, a total of 715 cases of defaulting corporate debtors had been closed under the IBC.
Of these, a significant portion of corporate debtors (378 cases) was ordered into liquidation while only 92 yielded a resolution plan where companies continue to operate as goin…
Read the full article at: https://www.bignewsnetwork.com/news/261080904/creditors-expect-increase-in-realisations-through-ibc-despite-hiccups
The Copy of Order passed by the National Company Law Tribunal (NCLT), Kolkata Bench on 09.05.2019 in the matter of Company Petition (IB) No. 628/KB/2018 alongwith CA (IB) Nos. 366/367/KB/2019 (RITESH MORE Vs MARSONS LIMITED)is enclosed herewith.
Further more, as per Courts direction a Monitoring Committee has been formed to oversee the effective implementation of Resolution Plan.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/marsons-limited-corporate-insolvency-resolution-process-cirp-approval-of-resolution-plan-by-tribunal/article27170739.ece
Not least of which is how to finance the investments needed to achieve them.
Estimates suggest that developing countries face a $2.5 trillion annual financing gap to meet the SDGs. Other studies conclude that the challenge of meeting this annual financing gap is substantial in low-income countries, which would require additional annual spending of 15.5 percentage points of GDP in 2030, focused relatively evenly on infrastructure and education and health.
One way countries can make these increased investments is through debt financing.
Read the full article at: http://blogs.worldbank.org/voices/facing-substantial-investment-needs-developing-countries-must-sustainably-manage-debt
Elizabeth Warren.
Photo: @ewarren/Twitter
November 2020 may still be a year and a half away, but the presidential election cycle is in full swing. What feels like approximately 400,000 Democrats are already fighting for the nomination, and cable networks have already been airing town halls with various potential candidates.
One of the many (and we do mean many) politicians to have thrown their hat into the presidential race is Elizabeth Warren, the Massachusetts senator and former Harvard Law School professor. After announcing her campaign, Warren, a policy heavyweight who has spent her career going after bi…
Read the full article at: https://www.thecut.com/2019/05/elizabeth-warren-policies-2020-presidential-campaign.html
Highlights:
- Company begins to recognize initial revenues from April 1 management contracts
- New CEO initiates process to accelerate strategic transformation and facilitate financial restructuring
- Announces intent to reorganize around three core business divisions with performance measured at division-level EBITDA
- Implements Board and management changes in support of restructuring process; Transitions CEO responsibilities from Founder James Haas to government contract veteran Matthew Burden who also is Chairman of Independent Restructuring Committee
- Strategic initiatives underway should enable Company to achieve its strongest financial year since its inception
- 2019s restructuring enables GreenGro to capitalize on recently passed Farm Bill wh…
Read the full article at: https://globenewswire.com/news-release/2019/05/17/1827052/0/en/GreenGro-Technologies-Expects-Its-Restructuring-and-Strategic-Transformation-Should-Enable-Company-to-Achieve-Its-Strongest-Financial-Year-Since-Inception.html