Insolvency Guardian Media Centre
Following this acquisition, Adani Power’s operating capacity has risen to 18,150 MW.
“The acquisition of VIPL is a key milestone in Adani Power’s strategy to unlock value through the turnaround of stressed assets,” Chief Executive Officer SB Khyalia said in a statement.
The company said it is further undertaking expansion of its base load power generation portfolio through a mix of brownfield and greenfield projects.
The Adani Group company is currently constructing six brownfield ultrasupercritical power plants of 1,600 MW each at its existing locations at Singrauli-Mahan in Madhya Pradesh, Raipur, Raigarh, and Korba in Chhattisgarh, and Kawai in Rajasthan, in addition to a 1,600 MW greenfield USCTPP at Mirzapur, Uttar Pradesh.
Besides,…
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Lenders Reject Jaypees Request To Accept Bid To Acquire Bankrupt Jaiprakash Associates NDTV Profit
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Balancing resolution efficiency and criminal accountability, section 32A of the Insolvency and Bankruptcy Code, 2016 (IBC), shields the assets of corporate debtors from being attached by prosecuting authorities. Such protection depends on two conditions. These conditions are that on approval of a resolution plan by the National Company Law Tribunal (NCLT) there has been a change of management and the incoming management has neither abetted nor conspired in the alleged offence before the corporate insolvency resolution process (resolution process) started.
Partner
Bharucha & Partners
This is a vital safeguard, particularly when agencies such as the Enforcement Directorate (ED) begin asset attachment proceedings…
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Alton worked in corporate insolvency in Australia for seven years prior to moving to Singapore in 2014, where he worked on several of Singapore’s high-profile corporate insolvency and restructuring engagements. Notable assignments Alton has worked on include the receivership of Singapore Flyer Pte Ltd, liquidation of the California Fitness Clubs in Singapore, and restructuring of Hyflux Ltd, a Singapore-listed water and energy conglomerate with over USD 2.24 billion debt.
Alton joined Kroll in 2022, where he has worked on the receivership of a Singapore-headquartered global logistics group with operations throughout Southeast Asia, China, the U.S., Australia and New Zealand and over SGD 400 millon debt. Alton has also worked on the…
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Lodha Developers Ltd. has been directed to deposit Rs 520.80 crore as security in relation to an ongoing case in the Supreme Court against V Hotels Ltd., which the company acquired last year through an insolvency process.
In a regulatory filing on Wednesday, Lodha Developers informed that this matter is related to proceedings initiated by the Enforcement Directorate against the erstwhile promoter of V Hotels. This was in relation to a transaction of Rs 520.80 crore, allegedly routed through VHL before the start of the insolvency process.
Lodha expects that the matter will be heard expeditiously in the apex court and the deposit will be released.
In April last year, Lodha Developers announced the takeover of VHL through the Corporate…
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Begbies Traynor Group promotes new director in Yorkshire Yorkshire Post
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Nexus Corporate Solutions Limited continues to be a trusted partner for UK businesses facing financial difficulties. Based in Doncaster, the company offers professional insolvency advice and tailored solutions to help directors and stakeholders navigate periods of corporate distress.
One of the core services of Nexus Corporate Solutions Limited is company administration, a strategic solution for restructuring insolvent businesses. Acting as the appointed administrator, Nexus guides clients through the entire process, helping safeguard the business, protect its assets, and lay the foundation for a successful recovery.
In situations where the…