Mithun Dasgupta

All secured Binani creditors receive dues

All secured creditors of bankrupt Binani Cement (BCL) received their dues on Tuesday, a day after the Supreme Court allowed UltraTech Cement to acquire the cement firm under the corporate insolvency resolution process (CIRP).

Binani Cement resolution professional , binani cement, National Company Law Tribunal , nclt News

Liquidity stress: MFIs hope to retain loan disbursement growth in Q3

Although flow of credit from lenders to mid-size microfinance institutions (MFIs) has improved significantly since last week, small MFIs are still facing the challenging situation on the back of liquidity stress. Microfinance

mfi, cash flow News

Bengal Chemicals logs highest-ever profit, income in H1

The company has three divisions—home care & personal care, pharma and industrial chemicals — with pharma, and home care & personal care divisions contributing around 65% and 30% of its total sales, respectively.

Markets News

How Huawei is betting big on Artificial Intelligence

On Wednesday, during the opening day of the event, another rotating chairman of the company Eric Xu announced the company's AI strategy as well as its full-stack, all-scenario AI portfolio.

Industry News

NCLT dismisses insolvency petition against Duncans Industries

The petition was filed by a Surat-based firm against the ailing tea company as the latter was unable to pay Rs 41.55 lakh towards the supply of various pesticides and herbicides.

Industry News

RBI restrictions not to impact business growth, says Bandhan Bank

Bandhan Bank on Saturday said the restrictions imposed by the Reserve Bank of India (RBI) on its branch expansion is not likely to impact its business growth.

bandhan bank, rbi News

NCLT admits insolvency case against West Bengal government undertaking

The Kolkata bench of the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against West Bengal Mineral Development & Trading Corporation (WBMDTC), a government of West Bengal undertaking.

NCLT, WBMDTC, Hiranmaye Energy, India Power Corporation, Insolvency & Bankruptcy Code, Committee of Creditors News

In no rush to float equipment finance IPO in current ‘weak’ market: Srei

Srei Infrastructure Finance will not rush into launching an initial public offering (IPO) of its wholly-owned subsidiary Srei Equipment Finance (SEFL) as it feels the current overall market sentiments are ‘weak’.

Srei, Srei Infrastructure Finance, initial public offering, Srei Equipment Finance, market News

Huge write-off: Banks to take 92% haircut in Adhunik Metaliks case

Lenders to Adhunik Metaliks (AML) will take a haircut of around 92% and settle for Rs 410 crore against their outstanding dues of Rs 5,370 crore after the Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday a

Industry News

Exide sees ‘big leap’ in online battery sales as it steps up offerings

The country’s largest storage battery maker Exide Industries has said it is witnessing a “big leap” in online sales of its products, with the company stepping up its offerings for online sales channel.

Exide Industries, largest storage battery maker, exide battery online sakes, Tudor India, online sales channel News

Adhunik Metaliks: Liberty House resolution plan gets CoC go-ahead

The committee of creditors (CoC) of Adhunik Metaliks approved UK-based Liberty House’s resolution plan for the insolvent company on Thursday


Adhunik Metaliks CoC meets to mull clearing Liberty’s resolution plan

The committee of creditors (CoC) of Adhunik Metaliks (AML) met on Monday to consider approving the resolution plan for the insolvent company submitted by UK-based Liberty House, the highest bidder.

steel, steel industry, steel setor News

Jai Balaji case: HC recalls winding-up order; SBI to pursue insolvency plea

Providing relief to State Bank of India in the case of defaulting Jai Balaji Industries (JBIL), the Calcutta High Court has recalled its winding-up order against the debt-laden steel producer.

India News

Insolvency professionals may step down only on health, legal grounds

There have been a few instances where the NCLT has expressed concerns over resignation or unwillingness of IPs to continue as RP or act as liquidator.

Industry News

Adhunik Metaliks: Lenders negotiating with UK-based Liberty House to raise offer

After Adhunik Metaliks (AML) received additional time to complete the ongoing insolvency resolution process, lenders are now negotiating with UK-based Liberty House for exploring opportunity to raise its offer for the bankrup

Adhunik Metaliks,  insolvency, bankruptcy, Liberty House, National Company Law Tribunal, NCLT News

UltraTech: Dalmia Bharat delaying Binani resolution

With Dalmia Bharat-controlled Rajputana Properties (RPPL) sticking to its demand for getting a copy of UltraTech Cement’s revised resolution plan, the Aditya Birla Group-owned cement major on Monday alleged that its rival b

UltraTech cement, Dalmia Bharat, binani cement, Aditya Birla Group News

SBI in a fix over High Court order on defaulting steel firm

The Calcutta High Court’s winding-up order against the defaulting Jai Balaji Industries (JBIL) has put State Bank of India (SBI) in a fix as its insolvency petition against the steelmaker is pending before the National Comp

SBI, calcutta high court, Jai Balaji Industries, National Company Law Tribunal, nclt News

Adhunik Metaliks: NCLT allows 20 more days to complete insolvency process

Bankrupt Adhunik Metaliks has received an additional 20 days to complete the ongoing insolvency resolution process.

Industry News

IBBI Regulation: Resolution professionals directed to charge fee that is ‘reasonable’

Insolvency and Bankruptcy Board of India (IBBI) has come out with a regulation to ensure that fees payable to an insolvency professional and expenses incurred by him during the corporate insolvency resolution process (CIRP) a

Economy News

Bankruptcy litigation taking focus away from resolution process, says President of MN Dastur & Co

Too many litigations in insolvency resolution process are consuming time and it will eventually dilute the focus of putting the insolvent steel companies back on a productive track.

Commodities News

Uco Bank to recover ‘major amount’ via NCLT

State-run Uco Bank expects to recover a “major amount” from its bad assets through NCLT route as accounts eligible for insolvency resolution are being explored ‘vigorously’.

Uco Bank, Uco Bank net loss, Uco Bank NPA News

Adhunik Metaliks case: NCLT reserves order on extra time

As per the Insolvency and Bankruptcy Code norms, an insolvent company is to be liquidated if during the moratorium of nine months no successful resolution plan is in place.

Adhunik Metaliks case, NCLT, RP News

Binani Cement’s lenders opt for UltraTech’s bid

Will mean all financial, operational creditors will get complete dues

Binani Cement, UltraTech, Electrosteel Steels, NCLT, Dalmia Bharat, supreme court,  Insolvency and Bankruptcy Code News

Binani Cement: Dalmia Bharat again moves apex court on NCLAT order

While the committee of creditors (CoC) of Binani Cement is expected to consider a revised offer from UltraTech Cement along with the company’s resolution plan for the debt-laden cement maker on Monday, rival Dalmia Bharat-c

The appellate tribunal on May 15 was hearing UltraTech's plea, seeking its direction to the RP to call a creditors' meet in order to consider its revised bid of around Rs 7,900 crore for the insolvent cement maker. News

Binani RP postpones creditors’ meet

The resolution professional (RP) of insolvent Binani Cement has postponed the creditors’ meet, which was scheduled for Thursday, citing that the resolution plan submitted by UltraTech Cement in the “format acceptable” t

ultratech, binani News

Binani Cement: UltraTech moves NCLAT for direction to RP for calling CoC meet

UltraTech Cement on Monday filed an application before the National Company Law Appellate Tribunal (NCLAT), seeking its direction to the resolution professional (RP) of Binani Cement to call a committee of creditors (CoC) mee

Binani Cement, Binani, Supreme Court, Insolvency and Bankruptcy Code, Binani Industries  News

Adhunik Metaliks: NCLT keeps issue of additional time open

According to a source close to the development, “Edelweiss ARC's plan was rejected in the first round of bidding for Adhunik Metaliks, and in the second round, the company did not submit its plan.”

Adhunik Metaliks, NCLT, RP, IBC News
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