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SBI moves insolvency plea against Jaiprakash Associates before NCLT

SBI moves insolvency plea against Jaiprakash Associates before NCLT

[ad_1] Country's biggest lender SBI has moved the National Company Law Tribunal (NCLT) against Jaiprakash Associates Ltd for initiation of insolvency proceedings against the debt-ridden company. State Bank of India (SBI) in its plea filed before the Allahabad bench of NCLT has claimed a total default of Rs 6,893.15 crore

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Axis Bank turns down plan to distribute Sintex sale proceeds

Axis Bank turns down plan to distribute Sintex sale proceeds

[ad_1] Resolution of bankrupt textile company Sintex Industries is likely to be delayed as Axis Bank has objected to the proposed distribution of proceeds from its sale to Reliance Industries and Assets Care and Reconstruction Company (ACRE), two people in the know said. The RIL-ACRE team had emerged as the

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Debt recovery via insolvency cases at 31 pc; 47 pc cases liquidated: Report

Debt recovery via insolvency cases at 31 pc; 47 pc cases liquidated: Report

[ad_1] Nearly half of the 3,247 insolvency cases have been resolved through liquidation, and only a paltry 457 or 14 per cent of them through asset sale as per their lenders-approved resolution plans, a report said on Friday. Even the various resolution processes have witnessed the recovery of debt of

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HDFC moved NCLT against SITI Networks claiming default of Rs 296 cr

HDFC moved NCLT against SITI Networks claiming default of Rs 296 cr

[ad_1] Housing Development Finance Corporation Ltd (HDFC) has moved insolvency tribunal NCLT against the country's leading multi-system operator for an alleged default of Rs 296 crore. has received a notice issued by the Mumbai bench of the National Company Law Tribunal over the petition filed by HDFCL, the

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HDIL insolvency: Financial creditors to meet on March 9-10

HDIL insolvency: Financial creditors to meet on March 9-10

[ad_1] Financial creditors of HDIL will meet on March 9-10 to discuss bids for acquiring the crisis-hit realty firm through insolvency proceedings. In a regulatory filing on Saturday, HDIL's Resolution Professional Abhay N Manudhane informed that the "Twenty-Third meeting of Committee of Creditors will be held on 9th March 2022

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